{"id":25328,"date":"2022-09-30T09:59:40","date_gmt":"2022-09-30T04:29:40","guid":{"rendered":"https:\/\/coinswitch.co\/switch\/?p=25328"},"modified":"2024-10-21T15:35:37","modified_gmt":"2024-10-21T10:05:37","slug":"market-update-september-30-2022","status":"publish","type":"post","link":"https:\/\/coinswitch.co\/switch\/news\/market-update-september-30-2022\/","title":{"rendered":"Crypto market update: 30 September 2022"},"content":{"rendered":"<p>Are we heading towards yet another \u201cweakend\u201d? No pun intended, but the crypto market hasn\u2019t changed sides over the past 24 hours, trading mostly flat on Friday morning. Currently, the broader space is up by 0.11%, with the global market capitalization still trying to reclaim the psychologically important level of $950 billion ($942.70 billion at present).<\/p>\n<h2>Significant developments<\/h2>\n<p>It has been a lackluster week for crypto, barring a few key developments. These include:<\/p>\n<ul>\n<li>Bitcoin (BTC) trading volumes have been surging over the past few days, with a 42.5% gain reported on 29 September 2022 (compared to 26 September).<\/li>\n<li>The market dominance of Bitcoin holds steady at 39.46%, as of early Friday, down by 0.11%, day-on-day.<\/li>\n<li>Total market volume has declined by 16.29% over the past 24 hours, showing a dip in the daily trading action across altcoins.<\/li>\n<li>BTC\u2019s exchange inflow numbers have moved above the six-month average, which might indicate some selling pressure building up.<\/li>\n<li>CRE8, the onshore crypto rupee index, is currently trading at \u20b92,678.24\u2014 up by 1.26% in the last 24 hours.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-25329 size-large\" src=\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-30-at-8.17.14-AM-1024x516.png\" alt=\"Market update inflow\" width=\"800\" height=\"403\" srcset=\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-30-at-8.17.14-AM-1024x516.png 1024w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-30-at-8.17.14-AM-300x151.png 300w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-30-at-8.17.14-AM-768x387.png 768w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-30-at-8.17.14-AM-1536x773.png 1536w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-30-at-8.17.14-AM.png 1748w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<p style=\"text-align: center;\">Source: Chainalysis<\/p>\n<h2>Key coins<\/h2>\n<p>Most crypto assets in the top 10 list are trading flat\u2014 trying to stay in line with the market. BTC, trading at $19,401\u2014 still needs to breach $21,500 for a fresh rally at the counter. At present, it is trading below the 200 MA and 50 MA levels, on the daily basis, indicating growing bearishness.<\/p>\n<p>Ethereum (ETH) isn\u2019t euphoric either, down by 0.76% over the past day or so. However, even today Ripple (XRP) continues to be the show stealer. It is up by 8.55% at the time of writing\u2014on the back of growing user optimism about the outcome of the XRP-SEC legal battle.<\/p>\n<p>Following the top gainer (XRP) is Stellar (XLM). This smart contract-powered project is up by 5.49%, led by a 65% increase in daily trading volumes.<\/p>\n<p>Underperforming the market is AirSwap (AST)\u2014 down by 9.18%\u2014 at publishing time.<\/p>\n<h2>Crypto Fear and Greed Index (CFGI)<\/h2>\n<p>Buyers are still fearful, and even today, the market movements are being manipulated by the bears. The Crypto Fear and Greed Index, a gauge of market sentiment, hasn\u2019t changed much over the past week. The index continues to skirt the 21 levels, led by a drop in social euphoria and an increase in price volatility.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-25331 size-large\" src=\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-30-at-8.27.41-AM-1024x341.png\" alt=\"Market update CFGI\" width=\"800\" height=\"266\" srcset=\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-30-at-8.27.41-AM-1024x341.png 1024w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-30-at-8.27.41-AM-300x100.png 300w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-30-at-8.27.41-AM-768x256.png 768w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-30-at-8.27.41-AM-1536x512.png 1536w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-30-at-8.27.41-AM.png 1914w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<p>If you are a trader\/investor trying to make informed decisions, it is important for you to wait for the CFGI to move and sustain above 30. Till then, it is better to watch and prepare an airtight DYOR strategy to navigate market uncertainties.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Are we heading towards yet another \u201cweakend\u201d? No pun intended, but the crypto market hasn\u2019t changed sides over the past 24 hours, trading mostly flat on Friday morning. Currently, the broader space is up by 0.11%, with the global market capitalization still trying to reclaim the psychologically important level of $950 billion ($942.70 billion at [&hellip;]<\/p>\n","protected":false},"author":76,"featured_media":25333,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[7701],"tags":[6467,6602,6536],"class_list":["post-25328","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-market-update","tag-news"],"acf":{"json_ld_schema":"\n[{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#FAQPage\",\"headline\":\"Wall Street jottings: A personal, guided tour to investing in US stocks\",\"keywords\":\"Personal Guide, US Investing, \",\"datePublished\":\"2022-07-22T13:28:55+05:30\",\"dateModified\":\"2022-09-19T19:04:28+05:30\",\"dateCreated\":\"2022-07-22T13:28:55+05:30\",\"author\":{\"@type\":\"Person\",\"name\":\"Ananda Banerjee\",\"description\":\"Ananda Banerjee is a creative copywriter at heart, a technical writer by profession, and a multifarious Web 3.0 creator in his leisure time. 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