On Monday, October 9, the cryptocurrency market was uncertain, with investors being careful because of an important event coming up.
The cryptocurrency market had a bumpy start on Monday, October 9, after showing some positive signs over the weekend. This uncertainty indicated a potentially unpredictable situation in the market. Last week, investors had gained confidence, leading to an overall rise in the major cryptocurrencies. However, the market sentiment, as measured by the fear and greed index, remained neutral at 45 on Monday.
Investors seemed to be taking cautious steps ahead of an important week with significant economic data releases. The United States was scheduled to reveal its Consumer Price Index (CPI) and Producer Price Index (PPI) data for September. Additionally, the Federal Reserve was planning to release the minutes from its September meeting, and several Federal Reserve officials were set to give speeches.
Among the major cryptocurrencies, Bitcoin’s price was slightly down by 0.23% to $27,941.98 on Monday, but its trading volume increased by 18.13% to $7.76 billion. Over the past month, Bitcoin had shown strong gains, rising by more than 8%, indicating growing investor confidence.
Ethereum’s price also dipped slightly by 0.05% to $1,635.16 on October 9, with a 30.73% increase in its trading volume to $3.36 billion. Its market capitalization followed a similar pattern, declining proportionally to $196.64 billion.
XRP’s price decreased by 0.62% to $0.5192, although its trading volume went up by 28.40% to $407.90 million. Meanwhile, Solana’s price experienced a nearly 1% drop from the previous day, settling at $23.29.
In the meme coin category, Dogecoin’s price slipped by 0.87% to $0.06097, with its trading volume remaining relatively stable at $91.97 million over the past 24 hours. Similarly, Shiba Inu’s price declined by 0.81% to $0.000007205, while its trading volume increased by 14.88% to $56.97 million.
The decline in the prices of most major cryptocurrencies had a ripple effect on the overall market on Monday. As of the latest data, the global cryptocurrency market cap was down by 0.35% to $1.09 trillion, and its trading volume increased by 16.58% to $18.18 billion. Bitcoin’s dominance was nearly 49.93% at the same time, indicating a slight decrease of 0.01% compared to the previous day.
Today’s Top 4 Cryptocurrencies:
1. Pepe Coin Price Up 0.22%
Pepe Coin Chart
As of October 9, the price of Pepe Coin was slightly up by 0.22%, reaching $0.0000007089. This suggests that investors have shown interest in this cryptocurrency. However, Pepe Coin has faced challenges in maintaining a positive trend recently, with its price dropping over 12% in the past week.
2. Bancor (BNT) Surges by 40%
Bancor Chart
On Monday, Bancor (BNT) cryptocurrency gained significant attention from crypto enthusiasts, leading to a remarkable price increase of 39.82%, reaching $0.5846. Its trading volume also saw a substantial surge, rising by 3620.33% to $277.35 million within the last 24 hours. Although there is no specific news explaining this surge, the Bancor project team cautioned users about a phishing site targeting Bancor on the X platform, urging them to stay vigilant.
3. Lido DAO (LDO) Rises by 3%
Lido DAO Chart
Lido Dao experienced a 2.66% price increase, reaching $1.62 on October 9, making it one of the top-performing cryptocurrencies for the session. Additionally, its trading volume over the past 24 hours increased by 8.28% to $24.93 million, and its market capitalization grew by 2.78% compared to the previous day, reaching $1.44 billion.
4. Avalanche (AVAX) Declines by 4%
Avalanche Chart
Avalanche (AVAX) continued its downward trend this week, indicating that investors are exercising caution. The price of Avalanche dropped by 4.37% to $9.96 on Monday, accompanied by a 55.69% decrease in its one-day trading volume, which amounted to $125.49 million. The recent decline in AVAX may be attributed to news of a protocol exploit on the Avalanche-based social platform, Stars Arena, resulting in approximately $3 million in losses.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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