Why cryptocurrencies rising today: Oct 2 Market Overview

Crypto market surged higher across the board on the back of speculative buying, primarily by European traders and hedgers as Euro was dropping to multi-month lows.

The move is likely speculative for short-term profit as the 24/7 open cryptocurrency market is oversensitive on weekends due to thin trading.  

The overall market-wide upward traction has been remarkable with an average gain of 5.2% in the past 24 hours.

The entire market has almost been closely moving in lockstep with bitcoin which has been used as a guide by traders to make their bets. 

The most popular cryptocurrency is up 6.7% to US $47,830 just below the significant resistance at US $50,000. Ether is trading at US $3,290 (up 6.4%)

Among Top 10 big caps, Polkadot (DOT) is the best performer up 9.3% in 24 hours.

At press time, Top 10 variable-price crypto coins by market cap:

CryptoUSD24HCap
Bitcoin (BTC)$47,8306.7%$900B
Ethereum (ETH)$3,2906.4%$387B
Ripple (XRP)$1.025%$102B
Cardano (ADA)$2.223.3%$71.9B
Binance Coin (BNB)$4184.9%$70.3B
Solana (SOL)$1400.2%$41.7B
Polkadot (DOT)$32.29.3%$35.9B
Dogecoin (DOGE)$0.226.2%$28.7B
ChainLinkToken (LINK)$26.16.8%$26.1B
Uniswap (UNI)$25.83.2%$25.8B

Not all currencies moved in line with the market trend over the past 24 hours, as shown bellow in the top and bottom performers.

Out of the relatively known digital coins, here are Top 10 cryptos that are doing better than the market over the day:

CryptoUSD24HCap
SwarmCity (SWT)$0.0680.5%$0.0005B
NOW Token (NOW)$0.0739.7%$0.006B
Monaco (MCO)$7.6122.5%$0.24B
Ren (REN)$1.1218.5%$1.1B
Icon (ICX)$1.9418.5%$1.8B
EnjinCoin (ENJ)$1.5214.2%$1.5B
Bitcoin Gold (BTG)$58.711.9%$1.1B
Ethereum Classic (ETC)$53.611.9%$6.9B
Rune (RUNE)$8.2111.3%$1.8B
Ravencoin (RVN)$0.1110.4%$1.1B

There are cryptos that have outperformed the market over the 24-hour period:

CryptoUSD24HCap
Humaniq (HMQ)$0.006-7.6%$0.0011B
Patientory (PTOY)$0.014-7.4%$0.001B
Lunyr (LUN)$0.19-7%$0.00044B
Hydro (HYDRO)$0.018-6.2%$0.0013B
AmaCoin (AMA)$0.07-6%$0B
ShareToken (SHR)$0.032-5.8%$0.07B
Credits (CS)$0.043-4.3%$0.009B
Constellation (DAG)$0.22-3.4%$0.28B
Tokenpay (TPAY)$0.08-2.8%$0.0017B
Salt (SALT)$0.23-2.4%$0.018B

Risk Warning: Cryptocurrency is a unregulated virtual notoriously volatile instrument with a high level of risk. Any news, opinions, research, data, or other information contained within this website is provided for news reporting purposes as general market commentary and does not constitute investment or trading advice.

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