The cryptocurrency market has been volatile on Monday, October 9, as investors remain cautious ahead of major events.
As seen over the weekend, the cryptocurrency market seems to have lost its positive momentum, indicating volatility in the market. Meanwhile, investors regained confidence last week, pushing the market higher, with most major cryptocurrencies closing in the black. However, the Fear and Greed Index remained at 45 on Monday, October 9, indicating that the market is in a neutral state.
Meanwhile, investors appear to be treading cautiously ahead of a crucial week with important macroeconomic information set to be released. The US will release September consumer price index (CPI) and producer price index (PPI) data.
In addition, the Federal Reserve plans to release the minutes of its September meeting, and several Fed officials will also deliver speeches.
Among major cryptocurrencies, Bitcoin price fell 0.23% to $27,941.98 as of writing on Monday, while its trading volume rose 18.13% to $7.76 billion. Meanwhile, over the past 30 days, the cryptocurrency has seen strong price gains of more than 8%, suggesting that investors are regaining confidence in BTC.
Meanwhile, Ethereum’s price fell 0.05% to $1,635.16 as of the time of writing on Oct. 9, while its trading volume surged 30.73% to $3.36 billion over the past 24 hours. Its market cap also fell by a similar percentage from yesterday to $196.64 billion.
Likewise, XRP price plunged 0.62% to $0.5192, with volume up 28.40% to $407.9 million. On the other hand, Solana price is down nearly 1% from yesterday to $23.29 as of this writing.
In the memecoin space, Dogecoin price fell 0.87% to $0.06097, while trading volume remained at $91.97 million in the past 24 hours. Also, Shiba Inu price fell 0.81% to $0.000007205, while trading volume rose 14.88% to $56.97 million, as of writing.
The plunge in most major cryptocurrencies on Monday dragged down the overall market. As of writing, the global cryptocurrency market capitalization fell 0.35% to $1.09 trillion, and the trading volume rose 16.58% to $18.18 billion. Meanwhile, Bitcoin's dominance was 49.93%, down 0.01% from yesterday.
Today’s top 4 cryptocurrencies are:
Pepecoin rose on Monday
As of the time of writing on October 9, Pepecoin price is up 0.22% to $0.0000007089, which shows that investors have shown interest in the cryptocurrency. However, the cryptocurrency has struggled to maintain positive momentum in recent days, as evidenced by its price decline. The popular meme coin is down more than 12% over the past week.
Bancor (BNT) up 40%
The Bancor (BNT) cryptocurrency has received notable attention from cryptocurrency market enthusiasts on Monday, as evidenced by its price surge. As of the time of writing, the Bancor price has increased by 39.82% to $0.5846, while the trading volume has surged by 3620.33% to $277.35 million in the past 24 hours. Although there are no updates on its recent price surge, the project team has issued a warning to users on the X platform about a phishing website targeting Bancor and asked them to be wary of such platforms.
Bancor (BNT) up 40%
The Bancor (BNT) cryptocurrency has received notable attention from cryptocurrency market enthusiasts on Monday, as evidenced by its price surge. As of the time of writing, the Bancor price has increased by 39.82% to $0.5846, while the trading volume has surged by 3620.33% to $277.35 million in the past 24 hours. Although there are no updates on its recent price surge, the project team has issued a warning to users on the X platform about a phishing website targeting Bancor and asked them to be wary of such platforms.
Lido DAO (LDO) surges 3%
As of the time of writing on October 9, Lido Dao’s price has increased by 2.66% to $1.62, making it one of the day’s biggest gainers. Meanwhile, the cryptocurrency’s trading volume has increased by 8.28% to $24.93 million in the past 24 hours, and its market cap has increased by 2.78% from yesterday to $1.44 billion.
Avalanche (AVAX) fell 4%
The Avalanche cryptocurrency continued its sluggish momentum this week, suggesting that investors remain on the sidelines amid unresolved concerns. As of the time of writing on Monday, Avalanche prices fell 4.37% to $9.96, with daily volume falling 55.69% to $125.49 million. Meanwhile, news that Avalnche-based social platform Stars Arena confirmed a protocol vulnerability that resulted in a loss of approximately $3 million appears to have triggered AVAX's recent decline.
