As of November 17, 2024, the total cryptocurrency market capitalization reached $3.07 trillion, marking continued growth in the sector. The 24-hour trading volume stood at $181.37 billion, reflecting increased market activity. The market was described as being in a state of “extreme greed,” with a Fear and Greed Index reading of 78.

Daily Summary on November 17, 2024$OM $BONK $XLM $QNT $RAY $ETH $BTC $XRP $DOGE $SOL #dailysummary #DeFi #Crypto pic.twitter.com/uAJNeLBQGY
— PHOENIX – Crypto News & Analytics (@pnxgrp) November 17, 2024

Bitcoin Maintains Market Leadership

Bitcoin remains the dominant force in the cryptocurrency market, trading at $91,215 and commanding a 58.9% market share. The total value locked (TVL) in decentralized finance (DeFi) on Bitcoin stands at $176.2 billion, underscoring its strong position among cryptocurrencies.

Ethereum and Other Cryptocurrencies

Ethereum is trading at $3,147, accounting for 12.4% of the market. The network’s gas fees are currently at 9 GWEI, highlighting its transactional efficiency. Ethereum continues to be a cornerstone of the DeFi space and blockchain applications.

Market Dynamics

Notable gainers in the market include:

$OM: Up by 52.12%.
$BONK: Up by 34.77%.
$XLM: Up by 14.47%.
$QNT: Up by 12.59%.

These assets have shown strong performance, contributing to the market’s positive momentum.

Liquidations in the Market

In the last 24 hours, total liquidations across the cryptocurrency market amounted to $152.52 million. Ethereum led with $72.25 million in liquidations, followed by Bitcoin with $68.46 million. Ripple ($XRP) also recorded significant liquidations, totaling $52.77 million, indicating heightened volatility in the market.

This sustained growth and activity signal robust interest in the cryptocurrency sector, with significant contributions from both established and emerging assets.