Crypto Prices Today: Market Slumps As BTC, Pepe Coin, SOL Dips

The crypto market has been highly volatile in the ongoing week, with all the major cryptos struggling to maintain a positive momentum amid hovering concerns. Investors were eagerly waiting for the key US economic data, for cues on the economic health of the nation, that was scheduled earlier this week.

Meanwhile, the US inflation data for September, although cooled from August on a month-on-month basis, stayed above the Fed’s target of 2%. Notably, Fed officials have recently indicated that they might consider another policy rate hike this year in an effort to tame inflation.

The US PPI data from Wednesday showed that the US inflation rose 2.2% on an annual basis in September, marking its highest increase since 2.3% in April. On the other hand, the US CPI advanced 3.7% annually, more than what the market was expecting.

Meanwhile, the ongoing war between Israel and Hamas has also weighed on the market sentiment, raising concerns over its potential impact on oil prices and the global economy. The gloomy sentiment in the market has weighed on the global financial markets, let alone the crypto industry.

In crypto prices, Bitcoin price was down 0.15% as of writing on October 13 and traded at $26,791.43. Its volume for the last 24 hours decreased by 26.66% to $9.26 billion, and its market cap fell 0.16% to $522.74 billion.

The Ethereum price slipped 1.18% to $1,551.28 during writing, with its volume declining 11.70% to $5.07 billion. Its market cap declined at the same percentage rate as its price and stayed at $186.54 billion.

On the other hand, the XRP price plummeted 1.52% to $0.4794, and its volume soared 6.62% to $812.49 million. Simultaneously, the Solana price noted decline of 3.38% to $21.43 as of writing, and its market cap slipped 3.07% to $8.91 billion.

In meme coins, the Dogecoin price was down 0.59% to $0.05792, reflecting the downturn momentum in the broader market. However, the Shiba Inu price was up 0.02% to $0.000006791 during writing on October 13.

The global crypto market continued to move towards the south on the hovering market uncertainties. The global crypto market cap was down 0.48% to $1.04 trillion, while its one-day volume fell 11.05% to $22.62 billion. Notably, the fear and greed index in the crypto market fell to 39, suggesting a “fear” sentiment among the traders.

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The Top 4 Cryptos For Today Are:

Pepe Coin Slips 1%

The Pepe coin price was down 0.91% to $0.0000006280 as of writing on Friday, and its volume over the last 24 hours declined 22.37% to $33.57 million. Meanwhile, the recent decline in the crypto price suggested that investors are staying on the sideline amid recent market concerns.

Loom Network (LOOM) Jumps 30%

The Loom Network crypto has noted significant gains on Friday, making it one of the top gainers in today’s session. Meanwhile, the Loom Network price was up 30.12% to $0.2785 as of writing, while its volume skyrocketed 210.40% to $605.74 million from yesterday. Several analysts think that the crypto’s recent price surge is due to increasing interest in the Korean exchange, Upbit.

The LOOM token’s prominent position on the Upbit exchange in Korea has raised concerns, given the region’s history of pump-and-dump activities. Meanwhile, CEO Ki Young Ju of CryptoQuant has acknowledged Korean traders’ preference for engaging in such behavior with altcoins.

THORChain (RUNE) Adds 9%

The THORChain price noted gains of 9.49% and traded at $1.68 as of writing on Friday. Meanwhile, its volume over the last 24 hours rocketed around 100% to $104.75 million, while its market cap gained 9.50% to $568.95 million. Over the past 30 days, the crypto noted gains of over 13% at its current price.

Trust Wallet Token (TWT) Gains 5%

The Trust Wallet Token price was up 4.62% and traded at $0.9588 as of writing on October 13, while its one-day volume rose 38.44% to $25.19 million. On the other hand, its market cap surged 4.79% to $399.50 million. Recently, the platform said that it has partnered with Moonpay to offer zero fees on users’ initial 5 cryptocurrency purchases through the Trust Wallet Extension.

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