Daily Crypto Market Update – BTC Slips Below $29k as Total Market Capitalization Plunges 1.2%
The crypto market valuation has dipped by 1.2% in the last 24 hours. It now stands at $1.21 trillion. The market capitalization of Bitcoin also dropped by a similar percentage to $558.42 billion, while that of Ethereum is down 0.9% to $235.21 billion.
Holders of the top ten cryptocurrencies by market cap have all posted losses today, with those of MATIC recording the most (3.4%), followed by Dogecoin, which slipped by 2.8%. The memecoin saw a good rally yesterday, rising by 4.8%.
Tether-issued stablecoin USDT has posted 24-hour net inflows of $291 million. Its market valuation now stands at $81.31 billion. It’s a different story for USDC and BUSD, whose market caps have dropped to $31.26 billion and $6.60 billion, respectively.
Bitcoin
BTC has shed 2.2% of its value to trade at $28,806. Before this price, the largest crypto by market cap had been trading above $29,000 for the last ten days. The bears may pull the price down to a support level of $28,560 and further to $25,500. Bitcoin’s market dominance stands at 46.1%, down from 46.3%.
ETH is trading at $1,946 after slipping by 1.3% in the last 24 hours. The second-biggest cryptocurrency by market valuation hit a support level of $1,925 two times before rebounding to reach a daily high of $1,967. Its crypto market share is 19.4%, up from 19.2%.
Top Five Gainers
Polymesh: POLYX becomes the top gainer after surging 28.2% to trade at $0.214 as of this writing. World’s largest crypto exchange Binance recently announced it had become a node operator on the Polymesh network. POLYX’s market capitalization is $131.43 million.
Cocos-BCX: COCOS now trades at $1.859 following gains of 12.6% over the last 24 hours. The Web3 game development platform announced rebranding to COMBO. COCOS’ market cap stands at $132.2 million.
HEX: The crypto asset is up 11% to change hands for $0.071 at press time. The surge may be due to the launch of the V4 PulseChain testnet. HEX’s market valuation grew to $12.37 billion.
BitTorrent: BTT is trading at $0.000000702 following 24-hour gains of 9.8%. On Wednesday, the project announced its BTFS decentralized storage service was ready for interested parties to sign up. BTT’s market cap has surged to $650.04 million.
Radiant Capital: RDNT has increased by 8.4% to $0.451. The project launched its decentralized finance product dubbed Fusion earlier this week. RDNT’s market valuation is $118.71 million.
Top Five Losers
TEMDAO: TEM has now posted 30-day losses of 92.7% after plummeting by 16.3% in the past day. The crypto asset was also Wednesday’s top loser. It currently trades at $0.013 and has a market valuation of $366.34 million.
BLUR: The native token of the fast-rising NFT marketplace, Blur, is down 9.7% to trade at $0.662. However, despite Thursday’s losses, BLUR is up 18.5% in the last thirty days. Its market capitalization is down to $293.84 million.
Zilliqa: ZIL has shed 8.6% of its value to trade at $0.031. The token has recorded 7-day gains of 6.8%. Its market cap stands at $494.53 million.
MobileCoin: MOB is priced at $1.21 after declining by 7.6% in the last 24 hours. The token has been trending down in the last 30 days, slipping by 26%. Its market cap has dropped to $236.86 million.
ssv.network: Holders of SSV have seen their holdings drop by 7.4% in the last 24 hours. The token is now changing hands for $30.13, with its market valuation declining to $301.3 million. On Monday, the network announced that its StakeWise V3 product is almost complete and will launch soon.
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