Daily Crypto Market Update – Bitcoin Stays Above $29k Following a Flat Market Performance
The crypto market capitalization has dropped to $1.193 trillion after net outflows of more than $10.1 billion. Over the past 24 hours, the Bitcoin market valuation has plummeted 0.38% to $563.65 billion, while Ethereum’s fell 0.35% to $229.11 billion.
Some of the top ten cryptocurrencies by market cap have seen slight gains of between 0.3% and 1.2%, while others have dropped narrowly. Solana rose by 1.2% to become the biggest gainer. On the other hand, Cardano dropped by 0.7% to occupy the top loser spot.
USDT’s market valuation surged to $82.10 billion following 24-hour net inflows of $267.64 million. Circle’s USDC did not record a drop in its valuation ($30.11 billion) today, but BUSD did. The market cap of the Binance-brand stablecoin is down to $5.98 billion after losing $204 million to net outflows.
Bitcoin
BTC is trading at $29,201 after falling by 0.42%. Nonetheless, its market dominance remains steady at 47.3%. An on-chain report shows that Bitcoin’s spot trade volume dropped nearly 70% last month.
The bulls will try to resist every bears’ attempt to pull BTC below the $29,000 support level. Buying pressure may cause the coin to reach resistance at $29,800.
ETH has seen a 24-hour drop of 0.32% to be priced at $1,907 as of this writing. Prior to this price, the token retested resistance at $1,914 on Friday morning. Ethereum dominates about 18.9% of the market.
Whether the buyers can push ETH toward the 20-day exponential moving average of $1,945 remains to be seen.
Top Five Gainers
PEPE: This memecoin is up 81% in the last 24 hours. PEPE is trading at $0.00000372 and has posted a 14-day growth of more than 800%. Its market cap has surged to $1.65 billion. The largest crypto exchange by trading volume, Binance, announced today that it will list the token.
UMA: With a market capitalization of $201.91 billion, UMA is priced at $2.836, following a 38.91% growth. Luna Crush, a crypto data aggregator, has listed the token among its top ten cryptocurrencies based on UMA’s recent performance.
Radicle: RAD is up 208% over the last 30 days. No other token appeared more in the top gainers’ list than Radicle in April. It is trading for $5.36 after posting a 28.67% 24-hour increase. Its market cap stands at $267.74 million.
Decred: DCR joins other top gainers following a 12% surge in the last 24 hours. The crypto asset trades at $19.346 with a market valuation of nearly $288.72 million.
BinaryX: BNX is up 5.26% to trade at $0.615 as of this writing. The increase comes a day after the protocol launched ‘Project Matthew,’ a space-building simulation game. BinaryX’s market cap stands at $178.23 million.
Top Five Losers
RSK Infrastructure Framework: RIF is priced at $0.130 after shedding 9.11% of its value. It now has a market valuation of $125.61 million. Unlike other tokens that suffered massive sell-offs over the past seven days, RIF has only declined by 0.04%.
Stacks: STX is down 7.31% to trade at $0.731 as of Friday evening. Some crypto analysts are optimistic that the token will recover the losses in the coming days as interest in Bitcoin NFTs continues to grow. The STX market cap is $1.01 billion.
Bone Shibaswap: BONE is priced at $0.874 following a 7.23% drop in the last 24 hours. On-chain data shows holders of this token reached 83,100 on Thursday. BONE’s market valuation stands at $201.06 million.
Space ID: ID has had a rough week, dropping 24.6%. It has declined further by 5.67% in the last 24 hours. ID now changes hands for $0.574 with a market cap of $175.07 million.
CORE: The native token of the Core blockchain is down 5.34% to trade at $1.256 as of this writing. Like ID, the token has suffered significant losses in the last seven days. It has plunged 17.1%. CORE’s market cap is $140.84 million.
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