- The crypto market continued to print mixed sessions, with BNB leading the way as XRP surrendered some of its gains.
- Trading volumes maintained downtrends during the Thanksgiving holiday, leaving market players with little direction.
- The cryptocurrency market cap increased by a minor $1.9B, closing yesterday at $790.8B.
The top ten digital tokens saw mixed moves on Saturday. BNB saw a breakout as XRP led the losers. Nevertheless, BNB saw another range-bound period, hovering around the $308 range. Meanwhile, Bitcoin avoided sub-$16K for a 4th successful session.
Thanksgiving holidays saw trading volumes maintaining their downtrends. That left the broad cryptocurrency market to experience sideways. The wait-and-see approach by investors before Monday’s FTX updates contributed to the low trading volumes.
Meantime, there weren’t FTX updates nor NASDAQ cues to offer market direction. Nevertheless, uncertainty over FTX’s downward extent had market participants on the sidelines. The cryptocurrency space remains primed for another steep fall due to FTX’s contagion.
Nevertheless, FTX’s assets, including the $1.24B cash reserve, which delivered the $16K support for BTC, will prevent the slump.
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Crypto Market Maintains Sideways Over Thanksgiving Holiday
The crypto market sees a somewhat choppy session. Saturday saw the market cap climbing to $807.6B before plunging to $784.5B. Nevertheless, late support saw the market closing the day inside a positive region, increasing by $1.9B to $790.8B. Nevertheless, the market remains $181B down for November.
Markets Shakers & Movers
As mentioned, the crypto space saw mixed movements this weekend. BNB led the marketplace with a 3.53% uptick, with Ethereum (+0.51%) and MATIC (+0.20%) also securing support. Nevertheless, XRP led the downside, losing 3.93%. Bitcoin and Dogecoin closed the day inside a hostile region, dropping 0.36% and 0.34%, respectively. ADA closed the day flat.
24Hr Liquidations at Low Levels Amid Falling Trading Volumes
Total 24hr liquidation plunged to lower levels amidst faded trading volumes. The market’s 24hr liquidations hovered at $41.75M during this publication, sliding from early Saturday at $45.76M. Moreover, liquidated market participants within the past day held steady. Liquidated traders were 15,290 during this writing, sliding from early Saturday levels of 15,477.
Stay tuned for the latest crypto updates.