The total market cap saw a slight dip today, falling 0.01% to $3.99 trillion. Despite the mixed performance, trading activity slowed down, with the total 24-hour volume dropping 17.02% to $134.86 billion.
According to CoinMarketCap, Bitcoin traded at $114,890, increasing 0.17% in the past day. The top crypto by market cap had a trading volume of $42,188,815,124. Meanwhile, Ethereum had a different experience whereby it dropped by 1.30%, now valued at $4,452.38. The second largest crypto by market cap had a trading volume of $28,635,486,32.
Even with these fluctuations, Bitcoin is the one dominating with 57.4%, while Ethereum makes up 13.5% of the market.
Top Gainers Shine Amid Mixed Trading
Immutable (IMX) was the top-performing token, soaring 9.48% to hit $0.6891, backed by daily trading of $195.6 million. Close behind was Monero (XMR), which climbed 5.90% to reach $318.91, with $149.5 million in trading activity.
Avalanche (AVAX) also increased, rising 4.09% to $30.13 as trading volume surged to $1.31 billion. Other noteworthy gainers included MYX Finance (MYX), which increased by 3.45% to $10.88, and Zcash (ZEC), up 2.45% at $51.41.
Declines Among DeFi and Layer-2 Tokens
On the losing side, Curve DAO Token (CRV) took the biggest hit, dropping 5.33% to $0.722, having a trading volume of $159 760,388. Ethena (ENA) also saw a decline of 4.15%, landing at $0.7005. The token had a trading volume of $788,023,388.
Another token is POL, previously known as MATIC, fell by 3.53% to $0.2548. It had a trading volume of $184,165,633.
These two tokens had almost the same rate of decline. Sky (SKY) was trading at $0.07182, having a trading volume of $15,584,802. Pendle (PENDLE) made the last on the list, trading at $4.76 with a trading volume of 57,497,149. Both tokens experienced a drop of over 3%.
Market Overview
On the derivatives front, the mood seemed cautious. Open interest for perpetual contracts hit $873.43 billion, while futures were at $3.99 billion.
Bitcoin kept its implied volatility somewhat low at 36.83, pointing toward a stable environment. Ethereum, on the other hand, traded with higher volatility at 65.18, implying that sharp movements might occur.
A chart shared by CoinMarketCap indicated that Inflows into crypto ETFs amounting to $619.6 million were noted on September 15. Bitcoin ETFs led the rally with inflows of $741.5 million on September 10, confirming that institutions still favor Bitcoin.
Altcoins continue to outperform Bitcoin, with IMX and XMR standing out as top gainers. However, declining trading volume shows investors being careful with potential market shifts.
