Crypto Market Daily Highlights – XRP and BNB Buck the Top Ten Trend

Key Insights:

• It is a mixed start to the week for the crypto top ten, with XRP and Binance Coin (BNB) bucking the top ten trend.
• Economic data from China sent the crypto market into negative territory.
• Despite a total crypto market cap fall of $12 billion to $1,126 billion, the crypto market cap is up $65 billion for August.

It is a mixed Monday session for the crypto top ten. Bitcoin (BTC) is currently in negative territory, despite striking a new August high of $25,203. BNB and XRP are bucking the top ten trends with 90 minutes of the session remaining.

Economic indicators from China sent the crypto market into reverse. Weaker than expected stats delivered investors a reality check early in the session.

Industrial production increased by 3.8% year-over-year, down from 3.9% in June. Retail sales increased by 2.7% year-over-year, down from 3.1% in June. Economists forecast industrial production of 4.6% and retail sales of 5.0%.

The numbers disappointed, forcing the PBoC to deliver support that briefly limited the damage. Crude oil prices hit reverse, with the NASDAQ 100 Mini spending the day in the red alongside the broader crypto market.

Significantly, the bearish session continued despite the NASDAQ 100 shaking off the weak numbers to end the day with a 0.62% gain.

On Monday, the total crypto market cap rose to an early morning high of $1,175 billion before sliding to a late low of $1,110 billion. A partial recovery saw the market cap return to $1,134 billion before sliding back.

Down by $12.1 billion, the total crypto market cap is up by $65 billion for August.

The Crypto Market Movers and Shakers from the Top Ten and Beyond

It is a mixed Monday session for the crypto top ten.

BNB (+0.79%) and XRP (+0.13%) buck the trend with 90 minutes of the session remaining.

However, DOGE leads the way down, sliding by 5.36%, with SOL (-1.92%) and ADA (-2.98%) struggling.

BTC and ETH are also in negative territory, falling by 0.86% and 1.22%, respectively.

From the CoinMarketCap top 100, it is a mixed session.

Chiliz (CHZ) leads the way, rallying by 9.59%, with STEPN (GMT) and UNUS SED LEO (LEO) up 7.59% and 5.21%, respectively.

However, following the Sunday breakout session, Shiba Inu (SHIB) leads the way down, falling by 5.99%. Polygon (MATIC) and Uniswap (UNI) are down by 4.29% and 4.45%, respectively.

Total Crypto Liquidations Remain Steady Despite Bearish Session

This morning, total liquidations increased modestly, with the economic data from China testing investor appetite.

At the time of writing, 24-hour liquidations stood at $208 million, up from $194 million on Monday morning.

Liquidated traders increased over the last 24 hours. At the time of writing, liquidated traders stood at 68,517 versus 67,762 on Monday morning. While liquidations are up over 24 hours, liquidations are down over 12 hours, 4 hours, and over the last hour compared to Monday morning.

According to Coinglass, 12-hour liquidations stand at $51.19 million, down from $117 million, with 4-hour liquidations down from $25 million to $8 million. One-hour liquidations are down modestly from $2.93 million to $1.34 million.

The liquidation figures reflected market conditions over the Monday session, with the one-hour numbers suggesting a steadying ahead of the Tuesday session. (See hourly crypto market cap chart below).