Crypto Market Daily Highlights – SOL, BTC, and ADA Lead the Top Ten

Key Insights:

• It was a bullish Friday session for the crypto top ten, with ADA, BTC, and SOL leading the way.
• Demand for riskier assets soared on Friday, with the NASDAQ Index supporting the breakout session.
• The crypto market cap jumped by $59.17 billion to end the day at $995.24 billion.

It was a bullish session for the crypto top ten on Friday. SOL, BTC, and ADA led the top ten. Notably, BTC visited $22,000 for the first time since September and hit a new 2023 high of $22,743.

There were no US economic indicators to influence on Friday, leaving investors to react to corporate earnings and digest the latest round of US stats.

Netflix (NFLX) and Alphabet (GOOGL) contributed to a NASDAQ Composite Index breakout. An increase in subscribers and news of CEO and co-founder Reed Hastings stepping down supported an 8.46% NFLX rally, while reports of GOOGL planning job cuts delivered a 5.34 gain.

The NASDAQ Composite Index rallied by 2.66%, with the S&P 500 ending the session up by 1.89%.

From the crypto market, news of Genesis filing for bankruptcy had a muted impact, with investors continuing to respond to reports of a possible FTX reboot.

Today, investors should monitor the crypto news wires. FTX reboot news will remain a focal point, with updates from the ongoing SEC v Ripple case and the Genesis bankruptcy likely to draw interest.

Crypto Market Tracks the NASDAQ Index

It was a bullish Friday session. A mixed start to the day saw the crypto market cap slip to a late-morning low of $925.99 billion. However, a bullish afternoon session saw the crypto market surge to a late high of $1 trillion before easing back.

Despite a late pullback, the crypto market cap rose by $59.17 billion to end the day at $995.24 billion. The crypto market cap returned to $1 trillion for the first time since November 7.

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

It was a bullish session for the crypto top ten.

ADA (+7.99), BTC (+7.54%), and MATIC (+7.75%) led the way, with ETH rising by 6.92%.

BNB (+3.56%), DOGE (+5.64%), and XRP (+5.14%) trailed the front-runners, however.

From the CoinMarketCap top 100, it was a bullish session.

Aptos (APT) surged by 38.61% to lead the way, with optimism (OP) and solana (SOL) seeing gains of 22.55% and 19.09%, respectively. SOL reentered the top ten after the Friday session, replacing MATIC.

However, UNUS SED LEO (LEO) and toncoin (TON) bucked the broader market trend, falling by 0.64% and 1.36%, respectively.

24-Hour Liquidations Spike on BTC and ETH Breakout Sessions

Over 24 hours, crypto liquidations surged on Friday. A BTC return to $22,000 and ETH return to $1,650 led to a spike in short position liquidations. At the time of writing, 24-hour liquidations stood at $256.32 million versus $43.99 million on Friday morning.

Liquidated traders over the last 24 hours were also higher. At the time of writing, liquidated traders stood at 55,336 versus 15,058 on Friday morning. Crypto liquidations were higher over 12 and four hours and over one hour.

According to Coinglass, 12-hour liquidations stood at $239.90 million, up from $32.86 million on Friday, with four-hour liquidations rising from $8.69 million to $176.37 million. One-hour liquidations jumped from $0.448 million to $7.09 million.

The chart below shows market conditions throughout the session.