- It was a mixed session for the crypto to ten, with bitcoin (BTC) extending its winning streak while Binance Coin (BNB) saw red.
- There were no major news stories to provide direction on Saturday, allowing momentum from Friday to spill over to the weekend.
- After adding $24 billion on Friday, the total crypto market cap rose by a modest $11.5 billion.
It was a mixed session for the crypto market on Saturday. Bitcoin (BTC) logged a second 3-day winning streak of the week, while Binance Coin (BNB) saw red to buck the top ten trend.
There was no major news to derail the latest uptrend, with the crypto market needing to make it four in a row to convince investors of a possible shift from the extended bearish sell-off.
The week ahead will likely be another choppy one with inflation back in focus.
The Total Crypto Market Cap Inches Nearer to $1,000bn
Following a $27 billion rise on Friday, the total crypto market cap increased by $11.5 billion on Saturday. A day high of $954 billion saw the market cap near $1,000 billion, last visited on June 13.
Investors continued to put aside downside risks, including fears of a recession, with momentum from Thursday and Friday continuing into the weekend.
For the week, the total market cap is currently up by $58 billion, reducing the June deficit to $354 billion.
On Saturday, DOGE led the way, rising by 2.35%, with BTC (+1.15%) and ETH (+1.38%) close behind.
However, SOL (+0.76%) and XRP (+0.23%) saw modest gains, with ADA ending the day flat.
BNB bucked the trend, falling by 0.21%.
From the CoinMarketCap top 100, The Sandbox (SAND) led the broader market, rallying by 16.3%.
The market speculation of a possible investor buyout of The Sandbox delivered the breakout session on Saturday.
This week, tech companies, including Epic Games, Meta, Microsoft, and Sony, partnered to form the Metaverse Standards Forum.
Decentraland (MANA) also found strong support, gaining 9.0%.
Total Crypto Liquidations Eased, Reflective of Saturday’s Moves
The recent downward trend in total crypto liquidations resumed on Saturday, reflective of market movements.
Going into Sunday, total liquidations stood at $130 million, down from a Saturday morning of $192 million. 54,137 traders were liquidated over the past 24 hours.
One-hour liquidations were also steady. According to Coinglass, one-hour liquidations stood at $5.68 million.
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