{"id":324769,"date":"2023-05-12T12:45:16","date_gmt":"2023-05-12T11:45:16","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=324769"},"modified":"2026-04-17T09:41:20","modified_gmt":"2026-04-17T08:41:20","slug":"cryptoslate-wmarket-update-bitcoin-dumps-below-27000-amid-marketwide-rout","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/cryptoslate-wmarket-update-bitcoin-dumps-below-27000-amid-marketwide-rout\/","title":{"rendered":"CryptoSlate wMarket Update: Bitcoin dumps below $27,000 amid marketwide rout"},"content":{"rendered":"

In the last 24 hours, the cryptocurrency market cap saw net outflows of around $30 billion and currently stands at $1.10 trillion \u2014 down 2.75% from $1.13 trillion.<\/p>\n

During the period, Bitcoin (BTC<\/a>) and Ethereum's (ETH<\/a>) market cap fell 4.01% and 2.32% to $511.15 billion and $214.44 billion, respectively.<\/p>\n

All top 10 crypto assets recorded losses in the last 24 hours\u00a0\u2014 except\u00a0<\/span>XRP,\u00a0 Cardano, and Dogecoin, which saw minimal gains. Bitcoin and Ethereum led the outflows among the top 10 assets.<\/p>\n

\"CryptoSlate
Source: CryptoSlate<\/figcaption><\/figure>\n

The market cap of Tether (USDT) grew to $82.77 billion. In contrast, USD Coin (USDC) and Binance USD (BUSD) fell to $29.98 billion and $5.70 billion, respectively.<\/p>\n

Bitcoin<\/h2>\n

In the last 24 hours, Bitcoin fell 4.08% to trade at $26,372 as of 07:00 ET. Its market dominance remained fell to 46.3% from 46.9%.<\/p>\n

During the reporting period, BTC's price descent wiped $51 million in positions held on it. Some analysts have argued that its drop could lead to further declines towards $25,000.<\/p>\n

\"CryptoSlate
Source: Tradingview<\/figcaption><\/figure>\n

Ethereum<\/h2>\n

Over the last 24 hours, Ethereum declined 3.15% to trade at $1,767 as of 07:00 ET. Its market dominance rose to 19.4% from 19.3%.<\/p>\n

ETH mirrored BTC's price performance. According to Nansen's data, the number of staked Ethereum reached a new all-time of 19.55 million as staking deposits have surpassed withdrawals.<\/p>\n

\"CryptoSlate
Source: Tradingview<\/figcaption><\/figure>\n

Top 5 Gainers<\/h2>\n

tomiNET<\/a><\/h3>\n

TOMI is the day's biggest gainer, growing 12.56% over the last 24 hours to $4.44673 <\/span>as of press time. The token enjoyed a high upside after being listed by the Crypto.com exchange on May 11. Its market cap stood at $176.28 million.<\/span><\/p>\n

Solar<\/a><\/h3>\n

SXP rose 8.49% to $0.45655 <\/span>as of press time. Earlier today, Binance revealed it supported Swipe's (SXP) mainnet swap and rebranding plan to Solar. Its market cap stood at $257.56 million.<\/p>\n

Decred<\/a><\/h3>\n

DCR gained 4.61% to trade at $17.4418 <\/span>at the time of writing. The privacy coin has shed 10% over the past week. Its market cap stood at $260.62 million.<\/span><\/p>\n

Cosmos<\/a><\/h3>\n

ATOM jumped 3.34% to $11.2553 <\/span>over the last 24 hours. The self-styled internet of blockchains said its Game of NFTs Hackathon had been extended until June 19. Its market cap stood at $3.22 billion.<\/span><\/p>\n

Core<\/a><\/h3>\n

CORE grew 2.37% over the last 24 hours to $0.90466 <\/span>as of press time. Its market cap stood at $105.87 million.<\/p>\n

Top 5 Losers<\/h2>\n

Pepe<\/a><\/h3>\n

PEPE is the day's biggest loser for the second consecutive day. It fell 25.01% to trade at $0.0000012591 <\/span>at the time of writing. The high-flying meme coin's market cap is now below $500 million. Its <\/span>market cap stood at $484.06 million.<\/span><\/p>\n

Hex<\/a><\/h3>\n

HEX dropped 20.23% to trade at $0.05321<\/span>. The token has experienced a heavy sell-off in the last seven days, down 18%. I<\/span>ts market cap stood at $9.23 billion.<\/span><\/p>\n

WEMIX<\/a><\/h3>\n

WEMIX plunged 19.59% to trade at $0.65767 <\/span>as\u00a0<\/span>of press time<\/span>.\u00a0<\/span><\/span>The NFT-related token has decreased by more than 45% in the past month. Its m<\/span>arket cap stood at $164.8 million.<\/span><\/p>\n

Threshold<\/a><\/h3>\n

T lost 12.1% to $0.02673 <\/span>over the reporting period. The blockchain network DAO approved a proposal to boost cross-chain Bitcoin liquidity in DeFi by integrating Wormhole & incentivizing the minting of up to 26,000 tBTC. I<\/span>ts market cap stood at $232.73 million.<\/p>\n

JasmyCoin<\/a><\/h3>\n

JASMY fell 11.94% to $0.00478 <\/span>over the reporting period. The token has been experiencing a sell-off since Binance moved it to its innovation zone. I<\/span>ts market cap stood at $227.26 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

In the last 24 hours, the cryptocurrency market cap saw net outflows of around $30 billion and currently stands at $1.10 trillion \u2014 down 2.75% from $1.13 trillion. During the period, Bitcoin (BTC) and Ethereum’s (ETH) market cap fell 4.01% and 2.32% to $511.15 billion and $214.44 billion, respectively. All top 10 crypto assets recorded […]<\/p>\n","protected":false},"author":720,"featured_media":324788,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[72190],"post_folder":[],"acf":[],"yoast_head":"\nCryptoSlate wMarket Update: Bitcoin dumps below $27,000 amid marketwide rout<\/title>\n<meta name=\"description\" content=\"Bitcoin and Ethereum\u2019s market cap fell 4.01% and 2.32% to $511.15 billion and $214.44 billion, respectively.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/cryptoslate-wmarket-update-bitcoin-dumps-below-27000-amid-marketwide-rout\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CryptoSlate wMarket Update: Bitcoin dumps below $27,000 amid marketwide rout\" \/>\n<meta property=\"og:description\" content=\"Bitcoin and Ethereum\u2019s market cap fell 4.01% and 2.32% to $511.15 billion and $214.44 billion, respectively.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/cryptoslate-wmarket-update-bitcoin-dumps-below-27000-amid-marketwide-rout\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-12T11:45:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-17T08:41:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/05\/wmarket-may12.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/cryptoslate-wmarket-update-bitcoin-dumps-below-27000-amid-marketwide-rout\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/cryptoslate-wmarket-update-bitcoin-dumps-below-27000-amid-marketwide-rout\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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