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CryptoSlate wMarket Update: Bitcoin dips below $30,000 as outflows exceed $18B
The wMarket Update condenses the most important price movements in the crypto markets over the reporting period, published 07:45 ET on weekdays.
Cover art/illustration via CryptoSlate. Image includes combined content which may include the use of AI tools.
Since the last wMarket report, the cryptocurrency market cap saw net outflows of $18.7 billion and currently stands at $1.27 trillion — down 1.5% from $1.29 trillion.
Over the weekend, Bitcoin and Ethereum’s market cap fell 3% and 1.7% to $578.47 billion and $249.99 billion, respectively.
Over the last 24 hours, the top 10 cryptocurrencies recorded a mixed performance. Solana posted the biggest gains at 4.7%, closely followed by Dogecoin, up 4.6%. Meanwhile, Cardano brings up the rear, losing 2% over the reporting period.
The market cap of Tether (USDT) increased to $80.95 billion. Meanwhile, USD Coin (USDC) and Binance USD (BUSD) market caps fell to $31.8 billion and $6.7 billion, respectively.
Bitcoin
In the last 24 hours, Bitcoin fell 1.3% to trade at $29,872 as of 07:00 ET. Its market dominance fell to 45.7% from 46.4%.
Since Friday, Bitcoin traded flat before breaking out to peak at $30,560 on Sunday early evening (ET). A second rejection at this price led to a sharp spill that found support at $29,760.
Ethereum
Over the last 24 hours, Ethereum grew 0.1% to trade at $2,089 as of 07:00 ET. Its market dominance fell to 19.7% from 19.8%.
Since the last market report, ETH began moving gradually down. But the downtrend broke at approximately noon (ET) on Sunday, topping out at $2,150. Over the following hours, bears took control, dipping the price as low as $2,075.
Top 5 Gainers
Audius
AUDIO is the day’s biggest gainer growing 17.9% over the last 24 hours to $0.39371 as of press time. The project posted its latest Behind the Beats Podcast episode today. Its market cap stood at $392.66 million.
LUKSO
LYXe gained 15.3% to trade at $14.0756 at the time of writing. LUKSO co-founder Fabian Vogelsteller was featured in a recent Podcast discussing project developments. Its market cap stood at $217.83 million.
Celer Network
CELR rose 12.9% to $0.02692 over the last 24 hours. The project announced expanding its cBridge cross-chain facility to include Nexon Finance. Its market cap stood at $190.71 million.
Render Token
RNDR is up 12.1% to $1.92530 as of press time. The project was at the NFTNYC2023 meetup. Its market cap stood at $700.64 million.
Radix
XRD grew 10.1% to $0.08491 during the reporting period. The project announced its attendance at Consensus 2023, Austin, Texas. Its market cap stood at $861.8 million.
Top 5 Losers
TEMDAO
TEM is the day’s biggest loser, falling 17.8% to trade at $0.02202 at the time of writing. The project announced its token would be listed on the BTCEX exchange soon. Its market cap stood at $596.79 million.
Kaspa
KAS is down 16.6% to $0.02723 as of press time. The Kaspa Rust codebase Alpha release is live. Its market cap stood at $489.54 million.
FLEX
FLEX declined 8% to $1.65104 over the reporting period. The OPNX exchange opened its affiliate program recently. Its market cap stood at $162.9 million.
FTX Token
FTT dropped 5.1% to trade at $1.81533. Bankruptcy lawyers recently announced recovering $7.3 billion in lost assets. Its market cap stood at $597.05 million.
Core
CORE decreased by 3.3% to $1.63753. Its market stood at $150.98 million.
