Crypto Market Update: $BTC and $ETH See Major Liquidations, $BNX and $QNT Bounce Back

In the crypto market update of September 8, a few well-known tokens have occupied headlines with significant price movements. As per Phoenix, a prominent crypto analytics firm, $BNX, $QNT, $SUI, $BTT, and AVAX experienced substantial dips and bounces while $BTC, $ETH, $SOL, $SUI, and $PEPE witnessed liquidations on the 8th of September. The analytics provider took to its official social media account to offer the details.

Daily Summary on September 8, 2024$BNX $QNT $SUI $BTT $AVAX $BTC $ETH $SOL $SUI $PEPE#dailysummary #DeFi #Crypto pic.twitter.com/WZPnojfyXd

— PHOENIX – Crypto News & Analytics (@pnxgrp) September 8, 2024

$BNX Leads the DeFi Sector in the Case of 24-Hour Price Dip and Bound

According to Phoenix, $BNX saw a 0.83% dip along with a bounce of 16.73% in the past twenty-four hours. In addition to this, $QNT recorded a 2.34% along with a 16.72% bounce. Following that, $SUI experienced a 0.56% dip and a 9.77% bounce over these twenty-four hours. Additionally, $BTT and $AVAX occupied the 4th and 5th spots on the list. $BTT dipped by 2.30% apart from an 8.97% bounce while $AVAX beheld a 0.43% dip and a 7.73% bounce.

$BTC and $ETH Top the Market in 24-Hour Crypto Liquidations

On the other hand, Phoenix also revealed the top DeFi projects in terms of liquidations over the 24-hour time. The list places $BTC at the top with a liquidation of $8.30M. After that, $ETH obtains the 2nd position with $6.99M in liquidation. Moreover, $SOL and $SUI’s liquidations reached $2.63M and $2.27M respectively. $PEPE bottomed the list with $2.03M in liquidations.

Particularly in the case of the top crypto assets Bitcoin and Ethereum, Phoenix provided additional details. According to Phoenix, the prices of Bitcoin and Ethereum have reportedly touched $54,388 and $2292 respectively. $BTC’s market dominance stands at 55.6% while $ETH accounts for 14.3% in this respect. On the other hand, the fear and greed index stands at 28, indicating fear. Overall, the market includes 30,166 cryptocurrencies, with a market capitalization of $1.93T. Furthermore, its 24-hour volume has touched $39.81B.

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