Daily Crypto Market Update – Bitcoin Stays Above $26K as Solana Sheds 2.5%
Today, the crypto market capitalization has recorded relatively low outflows compared to the last two days when it fell by over $10 billion. It has dropped by $310 million to $1.117 trillion. Bitcoin and Ethereum’s market caps have increased slightly by 0.64% and 0.79% to $513.24 billion and $221.73 billion, respectively.
Meanwhile, after plummeting for three consecutive days, BNB has grown by 2.57% in the last 24 hours to become the biggest gainer among the leading ten. On Monday, the token started a downturn when the Securities and Exchange Commission (SEC) charged crypto exchange Binance with alleged securities fraud. BNB is now trading at $265. Except for Solana, which is down 2.5% to trade for $18.93%, the rest of the top ten tokens have posted gains of between 0.3% and 0.96%. SOL is among the many cryptocurrencies that the SEC deemed securities.
Stablecoin Market
The top three stablecoins have all seen their market valuations decline today, with USDT’s sliding to $83.301 billion after losing about $18 million to net outflows. BUSD and USDC’s market capitalizations have shed $1.2 million and $4.6 million to $4.864 billion and $28.468 billion, respectively.
Bitcoin
BTC is changing hands for $26,604 following a 0.64% growth. The surge comes amid regulatory uncertainty in the United States. An on-chain data shows that the lawsuits brought against Binance and Coinbase have forced investors to withdraw over 14,000 BTC from crypto exchanges since the start of the week.
Whether Bitcoin will retest the $27,028 resistance level remains to be seen. The coin’s market dominance has increased to 46.67% over the past 24 hours.
ETH has added 0.79% to its value today. It now trades at $1,855 with a market share of 20.16%. The token retested the $1,876 resistance level early Thursday and then plummeted to $1,837 before rising to its current price. If Ethereum thrusts above $1,876, it could rally to $1,926 and then to $2,000.
Top Five Gainers
STORJ: The crypto asset has recorded a 7-day rally of 8.37%. Today, it increased by 15.94% to change hands $0.326. STORJ’s market cap stands at $126.32 million.
FLEX: The token has rallied since Wednesday, growing by 10.13% in the last 24 hours to trade at $2.59 as of this writing. The FLEX market valuation stands at $253.17 million.
FTX Token: After a few days of trading below $1, FTT has risen by 9.16% to trade for $1.01. Nonetheless, the native token of the fallen crypto exchange FTX is still down 97.95% from its peak price of $84.92. FTT’s market cap stands at $327.96 million.
NYM: The last 30 days have been kind to this privacy token, which grew by 18.26%. With a market cap of $108.68 million, NYM is priced at $0.237 after adding 8.56% to its value.
iExec RLC: RLC’s 24-hour gains of 7.58% are still not enough to offset the 7-day loss of 3.2%. The cryptocurrency trades at $1.46 with a market valuation of $106.73 million.
Top Five Losers
KAVA: The token has lost 16.42% to become the biggest loser. It’s currently valued at $0.94. The decline comes at a time when the blockchain is witnessing increased activity. Lending protocol Hover recently launched on the network. KAVA’s market cap stands at $535.6 million.
Wilder World: WILD features on the top losers list again after dropping by 16.19%. With a market valuation of $102.26 million, the cryptocurrency trades at $0.42 as of this writing.
Livepeer: LPT is down 13.74% today. It changes hands for $4.65 with a market capitalization of $131.24 million.
tomiNet: TOMI is valued at $4.71 after plunging 10.54% in the last 24 hours. Nonetheless, the ERC-20 token has grown 13.5% over the past seven days. TOMI’s market cap stands at $187.14 million.
RSK Infrastructure Framework: With a market valuation of $101.76 million, RIF is changing hands for $0.106 after recording a 7.95% loss in the last 24 hours.
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