The crypto market is once again turning green and we have quite a few cryptocurrencies breaking out today. Sentiment is starting to turn cautiously positive, although analysts still warn of the poor macroeconomic situation. The total market cap of crypto is up 2% to $1,075 trillion.
?Market Overview#BTC price trades above $20K
The Top 10 are traded in red zone: $BNB +3.8%, $ADA +3.2%, $DOGE -8.1%.
Market cap: $1.08T (+1.66%) $BTC dominance: 36.61% (-0.24%)
Fear & Greed Index: 30 (Fear)Full Report?https://t.co/xr4UkAP0u1 pic.twitter.com/XBGfDpnDNj
— CryptoRank Platform (@CryptoRank_io) Nov 4, 2022
Bitcoin holds up stronger than stocks
Bitcoin (BTC) jumped towards the 100-day moving average this morning and is currently consolidating around $20,600. The share price is therefore up 1.6% today. Bitcoin is currently holding up stronger than stock markets while the number of new addresses is on an upward trend.
#FireCharts shows some large blocks of #BTC bids moving in to protect the 2017 Top. I’m always suspicious of new bid liquidity baiting in longs and then rugging, so watching this closely. If it’s legit, we should at least see a retest of resistance at the 100-DMA. pic.twitter.com/AowUj3JtS1
— Material Indicators (@MI_Algos) Nov 3, 2022
Ethereum rises slightly faster than bitcoin
Ethereum (ETH) made a bigger jump this morning and is back above USD 1,580, which means that the price is already 2.2% in the plus today. In the meantime, the message below is going around in the community, but please take it with a grain of salt.
Someone made a website to track what MSTR would have made if they longed ETH instead of BTC and it turns out they would be up $1.47 billion instead of down -$1.35 billion lmaooo pic.twitter.com/CKOqLLPKog
— Eric Wall X ? (@ercwl) Nov 4, 2022
BNB continues rally, XRP breaks out
Meanwhile, Binance coin (BNB) continues its rally strongly. The BNB price started to rise on Tuesday and now seems to be accelerating. BNB just broke through $350 and is up 5.2% today and even 22% in plus this week. Yet ripple (XRP) suddenly hits BNB this morning and is no less than 9.6% in the plus today. XRP is even testing the $0.5 mark at the time of writing and appears to be looking to break through it.
#XRPCommunity #SECGov v. #Ripple #XRP The SEC has filed a Motion to Extend the Time to file all parties’ Reply Briefs until November 30, 2022 and asks the Court to Order that any additional Amicus Briefs be filed by November 11, 2022. Ripple consents. New dates in motion. pic.twitter.com/vBUJV0fVk9
— James K. Filan ???? 124k (beware of imposters) (@FilanLaw) Nov 3, 2022
MATIC is no less than 16% in the plus
Despite this, XRP is not the strongest riser among the largest crypto. That honor goes to polygon (MATIC) again today. MATIC just touched $1.14, the highest price since early May and is up a whopping 16% today. Crypto Insiders analysts warned yesterday that the price is most likely to rise further.
? Do you believe in $MATIC? Today marked the highest amount of $100k+ whale transactions since February for the 11th ranked market cap #crypto asset. A mid-October spike in #Polygon holdings by 10m+ $MATIC whales may have foreshadowed this. https://t.co/LDWRvaJzPT pic.twitter.com/akJhLTXahq
— Santiment (@santimentfeed) Nov 3, 2022
Dogecoin drops 12%, Twitter plans postponed?
However, Dogecoin (DOGE) continues its decline. The DOGE price shot up last week because of the Twitter takeover of Elon Musk. However, it seems that plans for a crypto wallet for Twitter are being shelved, which is of course the exact opposite of what DOGE fans were hoping for. DOGE is currently falling below USD 0.12 and is down nearly 12%.
Fantom rises sharply after Andre Cronje return?
Then we have a significant increase in the top 100. Fantom is up a whopping 17% today and is currently testing the high around USD 0.28. Does that have to do with the return of controversial developer Andre Cronje?
— iamdefinitelyandre.ftm (@AndreCronjeTech) Nov 3, 2022
OKB fastest riser crypto top 100
Still, we have an even harder climber today in the top 100. OKB (OKB) of crypto exchange OKX shot to $22 yesterday and is currently holding around $20. OKB is therefore no less than 24% in the plus today.
Where do ambitions of world dominance take #OKX next?
The Bahamas
?OKX is proud to expand its global footprint by opening a regional hub in Nassau
— OKX (@okx) Nov 3, 2022
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