Daily Crypto Market Update – Litecoin Defies Wider Market Downtrend to Surge 2.5%
The crypto market capitalization stands at $1.137 trillion following net outflows of about $17.61 billion. Over the last 24 hours, the market valuations of Ethereum and Bitcoin dropped by 1.44% and 1.09% to $218.10 billion and $523.56 billion, respectively.
Nine of the top ten cryptocurrencies are in the red. Only Litecoin has posted gains in the past 24 hours. The token is up 2.53% to trade for $88.57 as of this writing. Polygon is the top loser after shedding 3.13% of its value. It’s now priced at $0.84. Solana becomes the second-biggest loser following a 24-hour loss of 2.98% to trade at $20.72.
USDT’s market cap rose slightly today. It stands at $82.85 billion. On the other hand, Binance-branded stablecoin BUSD has seen a sharp decline in its market cap in the last 24 hours to settle at $5.57 billion. Similarly, Circle’s USDC’s market valuation has dropped to $28.81 billion.
Bitcoin
BTC still trades above $27,000 but has plummeted 1.23% in the past 24 hours. The coin’s market share declined to 46.5%.
Bitcoin retested resistance at $27,667 early Tuesday before trending down. A further drop may cause the biggest crypto by market cap to reach the support level of $26,870.
Over the last 24 hours, the bulls have managed to keep ETH’s price above the crucial support level of $1,804. The token is, however, down by 1.12% to trade at $1,811 as of this writing. Its market dominance has dropped to 19.4%.
Initially, Ethereum retested resistance at $1,847. If the token continues with the downtrend to trade below the support level, we may see the bears pulling ETH down to $1,743.
Top Five Gainers
MiL.K: MLK is Tuesday’s top gainer after a 14.3% growth in the last 24 hours. With a market cap of $108.67 million, the crypto asset trades at $0.383. The project is known for engaging its community on Twitter but has been inactive since April 10th.
DAO Maker: DAO has surged 11.96% to $1.574. The increase comes a few days after the project announced plans to launch its layer-1 blockchain called Tenet. DAO’s market cap is $226.49 million.
HEX: Since the launch of PulseChain mainnet, HEX has seen its price increase substantially. The token is now valued at $0.034 after a 9.76% growth. Its market capitalization rose to $6.06 billion.
Conflux Network: CFX was also among yesterday’s top gainers. It’s up 9.1% today to trade for $0.312. CFX has been rallying since news broke that Mold Finance would be migrating to Conflux. Its market cap stands at $900.92 million.
Ontology: ONT has been surging since the project announced its partnership with Node API company GetBlock. With a market cap of $191.85 million, the token has increased by 7.8% to change hands for $0.219 at press time.
Top Five Losers
Open Campus: EDU was Monday’s top gainer but has shed some of the gains today. It’s trading at $1.181 after a 10.2% decline. Its market capitalization stands at $171.87 million. Last week, the project launched a $10 million grant targeting content creators.
Telcon: With a market capitalization of $115.42 million, TEL is trading at $0.0017 after declining by 8.97%. The payment platform announced yesterday that it had resumed EUR withdrawals and USDC deposits.
OriginTrail: The team behind this project hosted an AMA yesterday to address various concerns raised by investors. But it looks like the event did not stop TRAC holders from selling, as the token has fallen by 8.46% to trade at $0.262. Its market valuation is down to $103.31 million.
XinFin: XDC is priced at $0.0313 after shedding 6.89% of its value. Its market capitalization is $434.18 million.
UMA: The token has dropped by 6.67% to $2.208 in the last 24 hours. The decline comes a day after the project deployed its optimistic oracle on Coinbase’s Base network. The market cap of UMA is $157.43 million.
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