Daily Crypto Market Update – Bitcoin Sheds 2.7% to Trade Below $30K
Over the weekend, the crypto market recorded $18.5 billion in net outflows, causing the total market capitalization to drop to $1.26 trillion as of Monday evening. Bitcoin’s market valuation declined by 3.1% to $587.46 billion, while Ethereum’s fell by 1.6% to $249.96 billion.
The leading ten crypto assets by market cap have posted mixed performances in the last 24 hours. Solana was the biggest gainer with 4.8%, and Dogecoin came in second with gains of 4.7%. Meanwhile, Cardano joined Bitcoin in recording losses of above 2%.
In the stablecoin market, the market cap of Tether’s USDT has soared to $80.94 billion, up from $80.6 billion. The same cannot be said about USDC and BUSD, as the two coins have seen their market valuations fall to $31.7 billion and $6.6 billion, respectively.
Bitcoin
After a few days of trading above $30,000, BTC is now priced at $29,412, following 24-hour losses of 2.7%. Before the downward movement, the largest coin by market capitalization had touched a daily high of $30,521. BTC may find support at $28,988 after breaking the first one ($29,765).
ETH is still trading above $2,000 but is down 0.6% as of this writing. Before its current price ($2,069), the token attained a daily high of $2,134 on Monday morning. The bears may be looking to pull ETH down to its first support level of $1,910.
Top Five Gainers
Audius: AUDIO becomes the day’s top gainer after growing by 17.8% to $0.39. The streaming platform released its April’s Behind the Beats Podcast episode on April 15. AUDIO now has a market cap of $392.67 million.
LUKSO: LYXE is up 15.4% to trade at $14.08 as of this writing. The project’s founder Fabian Vogelsteller was interviewed recently, where he discussed upcoming developments. Its market valuation is $217.87 million.
Celer Network: CELR is trading at $0.02 after increasing by 12.8% in the last 24 hours. On Friday, the network revealed plans to add Nexon Finance to its cBridge cross-chain facility. CELR’s market cap rose to $190.72 million.
Render Token: RNDR surged 12.2% to $1.92. The project made an appearance at the NFT NYC 2023 event last Wednesday. The token’s market cap is $700.63 million.
Radix: XRD saw 24-hour gains of 10.2% to change hands for $0.08 at press time. The project disclosed over the weekend that it would appear at Consensus 2023 event set to happen in Austin, Texas, from April 26. XRD has a market capitalization of $861.9 million.
Top Five Losers
TEMDAO: TEM is down 17.7% to become the biggest loser. The token currently trades at $0.02. The loss comes despite the project’s announcement that the BTCEX exchange will list the crypto asset in the coming days. It has a market valuation of $596.78 million.
Kaspa: KAS declined by 16.7% to $0.027. The project’s Kaspa Rust codebase Alpha release went live a few days ago. The token’s market cap stands at $489.53 million.
FLEX: This token posted 24-hour losses of 8.5% to trade at $1.65 as of this writing. Its market valuation dropped sharply to $162.89 million.
FTX Token: FTT lost 6.1% of its value in the past. The crypto asset’s current price is $1.81. The price drop is likely due to a fading hope within the crypto community that crypto exchange FTX may not reopen anytime soon. FTT’s market cap is $597.07 million.
Core: The token is now priced at $1.63, following a 3.9% drop over the last 24 hours. Its market valuation stands at $150.97 million.
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