Crypto Market Sees Slight Dip and Lower Trading Volume
The total cryptocurrency market cap fell slightly by 0.01% to $3.99 trillion today. Trading activity slowed, with the 24-hour volume dropping 17.02% to $134.86 billion.
Bitcoin traded at $114,890, up 0.17% in the past 24 hours, with a trading volume of $42.19 billion, according to CoinMarketCap. Ethereum fell 1.30% to $4,452.38, with a trading volume of $28.64 billion.
Bitcoin dominates the market with a 57.4% share, while Ethereum holds 13.5%.
Top Gainers Show Strong Performance
- Immutable (IMX) led the gainers, rising 9.48% to $0.6891, with $195.6 million in daily trading.
- Monero (XMR) increased 5.90% to $318.91, trading $149.5 million.
- Avalanche (AVAX) rose 4.09% to $30.13, with $1.31 billion in volume.
- MYX Finance (MYX) gained 3.45% to $10.88.
- Zcash (ZEC) climbed 2.45% to $51.41.
DeFi and Layer-2 Tokens Face Declines
- Curve DAO Token (CRV) dropped 5.33% to $0.722, with $159.8 million in trading volume.
- Ethena (ENA) fell 4.15% to $0.7005, trading $788 million.
- POL (formerly MATIC) declined 3.53% to $0.2548, with $184.2 million in volume.
- Sky (SKY) traded at $0.07182, down over 3%, with $15.6 million volume.
- Pendle (PENDLE) dropped over 3% to $4.76, trading $57.5 million.
Market Overview and Institutional Activity
Derivatives markets showed caution. Open interest for perpetual contracts reached $873.43 billion, while futures stood at $3.99 billion.
Bitcoin’s implied volatility remained low at 36.83, indicating market stability. Ethereum’s volatility was higher at 65.18, suggesting possible sharp price moves.
CoinMarketCap data showed crypto ETF inflows of $619.6 million on September 15. Bitcoin ETFs led with $741.5 million inflows on September 10, signaling continued institutional interest.
Altcoins like IMX and XMR outperformed Bitcoin, but the overall decline in trading volume suggests investors are cautious about market changes.
