Cypher
(BTC) Bitcoin News TodayBlockchainCryptocurrencyEthereum (ETH)NewsOn-chain Data / AnalysisPrice AnalysisTrading

Daily Crypto Market Update – Bitcoin’s Downtrend Continues, Finds Support at $25,800

Thursday marks another day that the crypto market has recorded net outflows of over $20 billion this week. The total market cap fell by $20.43 billion on Wednesday. It now stands at $1.19 trillion after declining by $20.12 billion in the past 24 hours.

Bitcoin and Ethereum have seen their market capitalizations drop to $508.67 billion and $214.43 billion after losing $9.156 billion and $3.148 billion to net outflows, respectively.

Meanwhile, Polygon, Solana, and Polkadot are the only top ten cryptocurrencies in the green. MATIC is up 2.76% to trade for $0.883, SOL is priced at $19.34 after gaining 1.62%, and DOT has grown by 0.89% to change hands for $5.274 at press time. Cardano is the biggest loser after dropping by 1.69% to trade for $0.358. Litecoin comes in second with a 1.35% loss. It’s priced at $85.23.

Stablecoins market

Cypher

After growing to $83.06 billion today, USDT’s market cap is now $190 million away from equaling the $83.25 billion all-time high set in May 2022. But as the Tether-issued stablecoin looks to set a new record, its rivals, BUSD and USDC, are in free fall. BUSD’s market cap has plunged to $5.32 billion, while USDC’s declined to $29.15 billion.

Bitcoin

BTC is valued at $26.235 after posting a 1.11% loss in the last 24 hours. Before rebounding to this price, the largest cryptocurrency dropped below $26,000, finding support at $25,800. If it hits the support again and falls below, BTC may head toward second support at $25,490.

The coin’s market share now stands at 46.12%.

Ethereum

ETH has seen its market dominance decline to 19.52% today. The token is valued at $1,782, following a drop of 0.87%. Prior to the current price, Ethereum hit a support level of $1,759. Trading below this support may cause the token to plummet further to second support at $1,685.

📰 Also read:  Bitcoin Halving Offers Litmus Test for Inefficient Mining Operations

Top Five Gainers

ARPA Chain: ARPA was the second-biggest gainer on Wednesday after growing by over 39%. Today, the token has surged 23.43% to take the top gainer spot. APRA’s market cap stands at $142.54 million.

Kaspa: On Thursday morning, after the project announced that KAS would soon be accepted as a payment method by multiple technical stores based in Turkey, the token saw its value grow by 23.14%. It now trades at $0.0154 with a market cap of $289.36 million.

ARAW: This crypto asset has performed tremendously over the last few days. The reasons for the rally, however, are still unclear. With a market valuation of $102.67 million, ARAW changes hands for $0.0514 after posting gains of 22.31%.

Escroco Emerald: ESCE, an ERC-20 token, has risen by 17.78% to trade at $0.0983 as of this writing. Its market cap stands at $98.29 million.

Open Campus: EDU started rallying earlier today after Binance announced plans to enable an auto-invest functionality for this crypto asset. With a market cap of $222.24 million, EDU is priced at $1.218 after a 10.04% growth.

Top Five Losers

HEX: After falling by 20.29% today, HEX has now recorded a 7-day loss of 45.23%. It is priced at $0.0162 with a market cap of $2.81 billion. It is worth highlighting that no other token has appeared more in the top losers list this week than HEX.

📰 Also read:  AEX Review – Is AEX Scam or Legit? (complete aex.com review)

Synthetix: SNX has seen its price decline by 10.51% in the last 24 hours. As of Thursday evening, the coin trades at $2.301 with a market valuation of $587.23 million.

WAVES: Earlier this week, WAVES rallied massively after South Korean crypto exchanges announced removing an investment warning tag placed on the token. However, WAVES has shed most of the gains following a sharp drop of 10.09%. It trades at $1.7973 with a market cap of $200.37 million.

PancakeSwap: CAKE has plunged 8.13% to trade at $1.558. Its market valuation is $314.53 million.

KAVA: Before today’s 7.96% drop, KAVA had been on an uptrend since the start of this month, growing by 38.03%. It’s valued at $0.984 with a market cap of $115.24 million.


Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.

📰 Also read:  AEX Review – Is AEX Scam or Legit? (complete aex.com review)

Cypher

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.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Skip to content