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Daily Crypto Market Update – Bitcoin Slips Below $27K as Market Trends Down

The crypto market cap lost $17.23 billion to net outflows over the weekend. It now settles at $1.137 trillion. Bitcoin and Ethereum’s market capitalizations declined by 5.71% and 4.97% to $518.93 billion and $224.56 billion, respectively.

All the top ten cryptocurrencies have seen their prices drop sharply today. Litecoin, Cardano, Solana, Dogecoin, and BNB have all shed more than 8% of their value.

Stablecoin Market

USDT’s market cap stands at $83.57 billion after posting $47 million in net inflows. But it is a different story for BUSD and USDC, which have witnessed their market valuations decline by $26.34 million and $53.75 million to $5.27 billion and $28.87 billion, respectively.

Bitcoin

BTC has shed 5.18% of its value to trade at $26,658 as of this writing. The coin reached a daily high of $27,359 on Sunday, then reversed to hit support at $26,643 on Monday morning. Bitcoin currently dominates 45.84% of the market.

Ethereum

ETH is priced at $1,814 after declining by 4.56% in the last 24 hours. Similar to Bitcoin, Ethereum peaked at $1,923 yesterday and then began a downtrend to $1,802. Its market share stands at 19.84%.

Top Five Gainers

FLEX: This token becomes the top gainer following a 22.37% growth in the past 24 hours. It has been trending up since crypto exchange OPNX rolled out its governance token, OX. FLEX’s market cap stands at $136.02 million.

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Multichain: MULTI trades at $4.423 after gaining 15.32%. The rally is likely influenced by the resumption of the project’s routers which have been inactive for over a week. MULTI’s market cap stands at $64.34 million.

tomiNET: TOMI is back in the top gainers’ list after surging 12.67% in the last 24 hours. It trades at $5.411 with a market valuation of $214.53 million.

Terra Classic: LUNC has grown by 8.06% to $0.0001. Its market capitalization stands at $568.04 million. It is worth highlighting that the project recently announced that its community would soon vote on the proposal for the v2.1 upgrade.

The Sandbox: SAND is changing hands for $0.0607 following a 5.57% increase. Its market cap stands at $1.12 billion. Most of the metaverse tokens have rallied today as many Web3 enthusiasts anticipate Apple’s announcement regarding its upcoming mixed reality headset.

Top Five Losers

CORE: This token fell 15.18% to become the biggest loser. But despite the drop, it has recorded a 7-day growth of 28.53%. CORE trades at $1.118 with a market cap of $139.34 million.

ABBC Coin: ABBC has been on a downtrend ever since several holders revealed that they were scammed by people who pretended to be the project’s founders. The token has posted a 9.76% loss in the last 24 hours. Its trades at $0.188 with a market valuation of $267.29 million.

PEPE: Today’s 8.12% means this meme coin is down 61% from its peak price of $0.0000043. With a market cap of $462.17 million, PEPE is changing hands for $0.0000011.

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Just: JST has plummeted 7.94% to change hands for $0.024 as of Monday evening. The drawdown comes at a time when the Tron-based decentralized finance project is witnessing an increase in transactions. JST’s market cap stands at $215.48 million.

Ocean Protocol: OCEAN is priced at $0.385 after shedding 7.32% of its value. Nonetheless, the token has seen 7-day gains of 10.24%. Its market cap stands at $236.26 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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