The crypto market continued its move towards the south, as concerns over the Israel-Hamas war seem to have spooked the investors. The ongoing geopolitical turmoil has sparked speculations over its impact on oil prices, which might further trigger the already-high inflation.
On the other hand, investors also remained cautious ahead of the key economic data releases this week. Notably, the US government is expected to release the Producer Price Index (PPI) data today, which is considered a key figure to gauge inflation.
In crypto prices, the largest crypto by market cap, Bitcoin price slumped 1.79% to $27,114.15 over the past 24 hours, with its market cap declining the same percentage to $528.92 billion. In addition, its volume from yesterday lost 7.35% to $11.21 billion.
Among other cryptos, the Ethereum price slipped 1.51% to $1,560.53 as of writing on Wednesday, with its volume declining 24.22% to $5.49 billion. Its market lost 1.50% over the last 24 hours to $187.64 billion at the same time.
The XRP price was down 1.71% to $0.4907 during writing, and its volume fell 28.21% to $710.10 million. On the other hand, the Cardano price plummeted 1.87% to $0.2471 during writing on October 11.
In meme coins, the Dogecoin price was up 0.06% to $0.05897, while its volume tumbled 46.49% to $134.23 million. However, the Shiba Inu price declined 1.01% to $0.000006872 as of writing.
The losses in most of the major cryptos have weighed on the performance of the broader cryptocurrency market. Meanwhile, the global crypto market capitalization was down 1.52% over the last 24 hours to $1.06 trillion, and its volume fell 11.84% to $25.52 billion. Notably, the crypto market fear and greed index continued to decline towards the “fear” territory and remained at 42 on Wednesday.
Also Read: 10 Largest Ethereum Wallets Hold With Diamond Hands Despite ETH Exchange Inflows
The Top 4 Cryptos For Today Are
Pepe Coin Tumbles 4%
The Pepe coin price was down 3.58% during writing on October 11, and traded at $0.0000006418, while its volume from yesterday jumped 70.80% to $80.91 million. Meanwhile, the downturn performance in the crypto price, as evidenced by a drop of over 10% in its one-week price, suggests that investors are shifting their focus to safer assets amid the hovering market uncertainties.
Render (RNDR) Jumps 4%
The Render crypto was among the top gainers on Wednesday’s session, with a gain of around 4% in its price. The Render price was up 3.87% to $1.79 as of writing, and its market cap was up 3.85% to $664 million as of writing. Meanwhile, the positive performance of crypto amid a downturn momentum in the broader market seems to have gained traction from the crypto-market enthusiasts.
UNUS SED LEO (LEO) Adds 2%
The UNUS SED LEO price was up 1.70% and traded at $3.73 as of writing on October 11. Meanwhile, its volume over the past 24 hours fell 26.76% to $0.46 million, while its market cap soared 1.75% to $3.46 billion. Although there is no apparent news for the recent surge in the crypto’s price, it seems that the recent announcement of iFinex Inc, the parent company of Bitfinex cryptocurrency exchange based in Hong Kong, about $150 million share repurchase plan has fuelled traders’ optimism.
Tezos Falls 7%
The Tezos crypto was among the bottom movers on Wednesday, as evidenced by a drop of 7% in its price. Meanwhile, the Tezos price was down 6.99% as of writing to $0.6698, while its volume over the past 24 hours fell 17.80% to $69.59 million. However, despite the recent losses, the XTZ has maintained a gain of around 1% over the last seven days.
Also Read: Bitfinex Parent Announces $150 Million Share Buyback for Hack Victims
