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Daily Crypto Market Update – ADA Leads Top Ten Cryptocurrencies as Broader Market Turns Green

The crypto market has posted $12.56 billion in net inflows over the past 24 hours, raising its valuation to $1.143 trillion. The market caps of Ethereum and Bitcoin stand at $525.77 billion and $227.49 billion after growing by 1.82% and 0.84%, respectively.

All the top ten crypto assets have recorded substantial growth today. Cardano (ADA) has added 3.16% to its value to become the biggest gainer. It trades at 0.374. XRP is the second-top gainer, having grown by 2.65%. The token trades at $0.517.

Stablecoin Market

BUSD is the only stablecoin among the top three to have seen its market cap decline. The Binance-branded coin’s market valuation stands at $5.18 billion after losing about $81.21 million to net outflows. On the other hand, USDT and USDC’s market capitalizations grew by $57 million and $112.34 million to $83.26 billion and $28.97 billion, respectively. It is worth highlighting that USDT has now surpassed the previous all-time high of $83.251 billion, set last May.

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Bitcoin

BTC has seen its value increase by 0.86% in the last 24 hours. The coin is currently changing hands for $27,123. Despite the surge, its market dominance declined to 45.93%.

The rally is fueled mainly by the US Senate’s approval of the debt ceiling proposal. Bitcoin retested resistance at $27,264 early Friday and then reversed as the bears couldn’t allow a further price surge.

Ethereum

Ether is valued at $1,893 after recording a 1.83% price increase. Its market share has also increased to 19.92%.

The token peaked at $1,899 and later dropped slightly to find support at the $1,883 level.

Top Five Gainers

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FantasyGold: FGC has featured the most in the top gainers list over the last seven days. Within this period, it has posted gains of 902%. Today, it is up 112.23% to trade at $26.02 as of this writing. Its market cap stands at $3.64 billion.

ABBC Coin: ABBC trades at $0.22 following a 95.45% 24-hour growth. The rally comes a few hours after ABBC Foundation tweeted that a token burn event will happen soon to help boost ABBC’s value. The market cap of the crypto asset stands at $308.96 million.

Global Currency Reserve: With a market valuation of $341.21 million, GCR trades at $3.17, having risen by 55.12% over the last 24 hours. The token has rallied massively in the previous seven days, growing by over 280%.

Escoco Emerald: ESCE is up 47.67% to trade at $0.362 as of this writing. Its market cap has also surged to $368.41 million.

Linear: Pepertual futures traders can now trade LINA-USDT on Houbi, per the exchange’s announcement made yesterday. Following the news, LINA has grown by 24.39% to trade at $0.023. Its market cap stands at $147.94 million.

Top Five Losers

XinFin: XDC is priced at $0.032 after plummeting by 6.14% over the last 24 hours. It is important to highlight that the project was yesterday’s top gainer thanks to the excitement caused by celebrations of its fourth anniversary. XDC’s market cap stands at $508.18 million.

Alchemy Pay: ACH is down 4.19% to change hands for $0.0297 at press time. Earlier this week, the payment platform updated an NFT Checkout feature to allow users to make NFT purchases using their Mastercards. ACH’s market valuation stands at $187.22 million.

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Beldex: BDX grew substantially last week after the project released a desktop app for its BelNet decentralized Virtual Private Network (VPN). But since the start of this week, the token has been on a downturn, dropping by 2.89% today. With a market cap of $215.32 million, BDX now trades at $0.047.

Kusama: KSM joins top losers today, having declined by 2.76% in the last 24 hours. With a market valuation of $222.27 million, the token changes hands for $26.24.

GateToken: GT becomes a top loser for the second straight day, following a 2.64% drop. The token’s downturn is driven by investors’ fears that GateToken might be significantly exposed to the ongoing Multichain crisis. The project’s founders are, however, denying the alleged exposure. GT trades at $4.33 with a market cap of $425.18 million.


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Andrew Richard

Andrew is a news writer for Tokenhell, he enjoys tuning in to the daily crypto markets and writing about the latest updates and happenings.

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