Business3 SEP 2021 9:38 AM AESTShare

Which cryptos skyrocketed overnight?

The crypto market is trending upwards with major coins making reasonable gains over the past 24 hours. The market has moved up 2.03% on average during this time period.

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. Crypto markets operate 24/7, setting the stage for price swings at unpredictable hours.

Bitcoin, the largest cryptocurrency by market capitalization, is changing hands at US $49,380 (up 1.1%). Ether is down 1.2% to US $3,790.

It is hard to say whether Bitcoin’s rebound is sustainable as any upward breakouts are sharply sold off by bears who have lined up just around the US $50,000 psychological level.

Largely shaped by human emotion and psychology, these rounded-off number are based on market sentiment and anchoring (a cognitive bias whereby an individual’s decisions are influenced by a particular reference point – For example, you think you will sell and exit the market if it falls below US $30,000. You don’t usually come up with an arbitrary number like $29,837. This is especially important if you use auto or algorithmic trading).

For long-term investors who look at fundamentals rather than technicals,  it may not be a big worry.

Among Top 10 big caps, Solana (SOL) is the best performer up 22.5% in 24 hours.

As of press time, Top 10 free-floating cryptocurrencies over the day:

CRYPTOUSD24HCAP
Bitcoin (BTC)$49,3801.1%$929B
Ethereum (ETH)$3,790-1.2%$444B
Ripple (XRP)$1.261.6%$126B
Cardano (ADA)$2.963.1%$95.7B
Binance Coin (BNB)$486-0.8%$81.7B
Dogecoin (DOGE)$0.30.6%$38.8B
Polkadot (DOT)$32-3.6%$35.4B
ChainLinkToken (LINK)$30.11.3%$30.1B
Uniswap (UNI)$30-4.3%$30B
Solana (SOL)$83.122.5%$24.2B

Meanwhile, the digital coins below as the top and bottom performers have recorded extraordinary market volatility in the past 24 hour period.

As of press time, Top 10 cryptocurrencies that have outperformed the overall market trend:

CRYPTOUSD24HCAP
Kin (KIN)$0.0001102.5%$0.0001B
Ycash (YEC)$0.3947.2%$0.0045B
SwarmCity (SWT)$0.04337.9%$0.00037B
Aragon (ANT)$7.0333.3%$0.29B
CryptoSoul (SOUL)$0.3824.7%$0.038B
Solana (SOL)$83.122.5%$24.2B
Holo (HOT)$0.01316.8%$0.02B
Jobchain (JOB)$0.00114.8%$0.1B
Golem (GNT)$0.614.3%$0.27B
DENT (DENT)$0.00711.9%$0.7B

As of press time, these are 10 cryptocurrencies that have underperformed the overall market trend:

CRYPTOUSD24HCAP
Salt (SALT)$0.3-22.3%$0.024B
Digitex Futures (DGTX)$0.003-13.2%$0.0047B
Dentacoin (DCN)$2.5E-5-8.2%$0.014B
Celer (CELR)$0.05-7.6%$0.5B
Metal (MTL)$4.29-7.2%$0.29B
Ren (REN)$0.8-6.8%$0.8B
FTX Token (FTT)$60.9-6.5%$19.7B
Contentos (COS)$0.026-5.2%$0.09B
FunFair (FUN)$0.028-5.1%$0.31B
Cosmos (ATOM)$24.2-4.8%$6.5B