Daily Crypto Market Update – BNB Signals Recovery After Growing 4.85%
The crypto market capitalization has grown to $1.07 trillion after posting net inflows worth $4.28 billion. In the last 24 hours, Bitcoin’s market cap rose 0.73% to $504.27 billion, while Ethereum’s added 0.31%, surging to $210.08 billion.
There were varying performances among the top ten, with BNB posting the biggest gains (4.85%) to trade at $246. The token appears to be recovering after last week’s sell-off. BNB was subjected to high selling pressure when the US Securities and Exchange Commission charged its issuer Binance with an alleged violation of securities policies. The agency also labeled the token as a security.
Meanwhile, Tuesday’s top gainer XRP leads losers today after declining by 3.71%. The downturn comes a few hours after the Securities and Exchange Commission released documents of its former Director, William Hinman. XRP’s issuer Ripple had hoped to use the documents to build a strong defense against the lawsuit brought against it by the agency, but law experts now say they are irrelevant.
Stablecoin Market
The USDT market capitalization is now at $83.52 billion after posting $8.47 million in net inflows. On the other hand, USDC and BUSD have lost $3.76 million and $6.43 million, declining to $28.16 billion and $4.56 billion, respectively.
Bitcoin
The largest coin by market cap now trades at $25,972 after adding 0.69% to its value. Its market share has reached 47.83%.
Bitcoin retested the $26,450 resistance level on Wednesday morning and then plummeted to the $25,715 support level. The bulls’ failed attempts to get the coin above the 20-day Exponential Moving Average of $26,550 means a significant rally in the short term is unlikely.
ETH is changing hands for $1,741 following a 0.54% growth. The token’s market dominance has increased to 19.87%.
Over the last 24 hours, Ethereum rose to retest the $1,775 resistance level, and then a sell-off followed, causing the token to hit the $1,720 support level.
Top Five Gainers
Decred: With a market valuation of $225.15 million, DCR is trading at $14.98 after a 20.37% growth. The rally comes after the project launched its most anticipated V1.8 protocol, which supports stakeholder voting.
Lisk: LSK has trended upward over the last few days despite recent hacks. In the past 24 hours, the crypto asset added 13.46% to its value and now changes hands for $0.794. Its market capitalization stands at $101.83 million. The project’s hackathon is set for July 8.
SwissBorg: CHSB is up 11.52%. It now trades at $0.126 with a market valuation of $122.74 million.
FantasyGold: FGC has seen 24-hour gains of 10.31%. The crypto asset is priced at $0.867 and has a market capitalization of $121.12 million.
ARAW: After rising by 10.12% in the last 24 hours, ARAW is now valued at $0.044. Its market capitalization stands at $88.52 million.
Top Five Losers
HEX: The token has lost 8.45% of its value in the past 24 hours and now trades at $0.0072. Its market capitalization stands at $1.26 billion. It is worth mentioning that HEX’s market cap has dropped by more than $4.37 billion over the past thirty days.
Radix: XRD saw a slight growth last week after crypto exchange Changelly listed it, but it has been falling since Monday. Over the previous 24 hours, the token lost 6.63% to trade for $0.057 as of this writing. XRD’s market valuation stands at $582.72 million.
ABBC Coin: ABBC has been featured as both a top gainer and a top loser over the last seven days. However, we couldn’t tell the reason behind the mixed performance. The token trades at $0.160 after losing 5.58%. Its market capitalization stands at $227.49 million.
tomiNet: TOMI is back in the top losers list after shedding 5.53% of its value. Its trades at $4.472 with a market capitalization of $295.34 million.
Ocean Protocol: OCEAN is valued at $0.296, following a 4.97% decline. Its market capitalization stands at $181.48 million. Last week, the project announced that carmaker Volkswagen was experimenting with its technology to find a way of monetizing driving data.
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