As of October 20, 2024, the cryptocurrency market continues to point to blended actions all the method thru varied coins, with Bitcoin (BTC) sustaining a solid dominance and definite altcoins experiencing considerable volatility. Here’s a breakdown of key statistics and occasions from the day, alongside with insights into market sentiment and liquidations.
Everyday Abstract on October 20, 2024$APE $JUP $IMX $BEAM $GALA $APE $BTC $DOGE $SOL $DIA#dailysummary #DeFi #Crypto pic.twitter.com/jHBez6KPwC
— PHOENIX – Crypto Details & Analytics (@pnxgrp) October 20, 2024
The full cryptocurrency market cap is $2.35 trillion, with over 30,646 currencies actively traded. Over the closing 24 hours, the market saw a trading quantity of $42.15 billion, signalling persisted hobby in crypto resources despite fluctuations in particular person coin prices.
Primarily based fully on PHOENIX, Bitcoin remains the frontrunner, with its tag at $68,391 and a dominance of 57.6%. Ethereum (ETH), on the assorted hand, is priced at $2,649 and holds a dominance of 13.6%. The ETH gas prices are reasonably low, at 10 GWEI, which continues to toughen decentralized finance (DeFi) assignment, as the total worth locked (TVL) in DeFi protocols is $142.91 billion.
Market Sentiment in “Greed” Territory
The Dread and Greed Index displays that investor sentiment scores 73, indicating that the market is currently within the “Greed” fragment. It is a unparalleled shift from the rating of 49% thirty days within the past, suggesting rising bullish self perception among traders. This sentiment is furthermore reflected within the balance between BTC longs (49.27%) and shorts (50.73%).
Several cryptocurrencies skilled considerable bounces and dips within the closing 24 hours. ApeCoin (APE) led the dip, which dropped by 6.09% however made a superb enhance of 70.12%. Jupiter (JUP) skilled a tiny dip of 1.28%however rebounded by 9.54%. Other altcoins enjoy Immutable X (IMX) and Beam (BEAM) confirmed minimal movement, dipping by 0.36% and 1.22%, respectively, and bouncing encourage by puny margins.
Relating to liquidations, APE led the checklist with full liquidations amounting to $5.53 million, adopted closely by BTC with $5.52 million. Other considerable liquidations integrated DOGE at $4.80 million, SOL at $3.89 million, and DIA at $2.22 million. These figures highlight the persisted volatility within the market as traders face margin calls on extremely leveraged positions.
The crypto market remains dynamic and volatile, with predominant resources enjoy Bitcoin and Ethereum sustaining their positions whereas altcoins enjoy APE and JUP trip principal tag swings. With the market sentiment currently within the “Greed” zone, traders may perchance simply restful remain cautious, namely in light of the high liquidation figures, which signal doable over-leverage within the market.
