After a few days of witnessing outflows, the crypto market has posted $17.21 billion in net inflows over the last 24 hours. The total valuation stands at $1.135 trillion. Bitcoin and Ethereum’s market caps have grown by 1.72% and 1.27% to $529.67 billion and $219.62 billion, respectively.
All the top ten cryptocurrencies have been on an uptrend. Data from CoinGecko shows XRP as the top gainer in the lot after growing by 5.74% to trade at $0.466 on Thursday evening. The rally began yesterday when a US court dismissed the Securities and Exchange Commission’s demands to seal William Hinman’s documents. XRP’s growth was further fueled today when its issuer Ripple announced it had purchased custodial company Metaco. As per the blockchain firm, the move is part of its expansion plans.
Cardano comes in second with gains of 3.22%. It is priced at $0.377. Meanwhile, the other eight coins have posted price increases of between 0.51% and 2.1%.
After falling slightly yesterday, the market capitalization of USDT has grown to $82.86 billion as of this writing. On the other hand, the second-biggest stablecoin USDC has seen its market valuation drop to $29.48 billion, while that of BUSD plunged to $5.53 billion after losing $187.46 million to net outflows.
Bitcoin
During the past 24 hours, the bulls staged a rebound, pushing Bitcoin’s price above the support level of $26,850 on Thursday morning. Hours later, the most popular cryptocurrency rallied further to trade for $27,357 at press time. The bulls’ immediate aim is to get BTC, which has a market share of 46.6%, to retest the $27,956 resistance level.
Also read:Like BTC, ETH has also crossed above a crucial support level ($1,806) after a 1.3% growth. The second-largest crypto asset is changing hands for $1,817. Whether its price will retest resistance at $1,839 remains to be seen. Ethereum’s market dominance stands at 19.4%.
Top Five Gainers
RenderToken: With a market capitalization of $854.11 million, RNDR has grown by 17.76% to become the biggest gainer. Its trade at $2.347.
Cocos-BCX: COCOS’ price has surged since crypto exchange Binance announced it will facilitate the project’s token swap scheduled later this month. The token’s current value is $1.638 after gaining 16.86%. COCOS’ market capitalization is $116.43 million.
TomoChain: TOMO is up 16.53% to trade at $1.043 as of this writing. Its market valuation is $105.34 million. The project tweeted yesterday that it will take part in this year’s Web3 festival in Berlin, set for June 10.
Cartesi: CTSI is trading at $0.199 after posting a 24-hour surge of 16.24%. Its market cap stands at $114.17 million.
ssv.network: SSV has increased by 11.89% to change hands for $23.81. Earlier this week, the project revealed its partnership with Unamano, aiming to facilitate ETH staking. SSV’s market cap is $238.12 million.
Top Five Losers
Axie Infinity: It appears that the hype around Axie Infinity getting listed on App Store is slowly fading. AXS rallied remarkably yesterday but has seen a 6.14% drop as of this writing. The market valuation of the gaming token stands at $844.38 million.
Axelar: With a market capitalization of $129.47 million, AXL is trading for $0.493 after shedding 5.13% of its value. The price decline comes two days after the project’s founder Sergey Gorbunov appeared in an interview and gave significant development updates.
GALA: Similar to AXS, GALA has posted losses after yesterday’s rally. It is down 3.96% to trade at $0.032. The token’s market valuation plunged to $228.11 million. GALA is now running on a new smart contract with a token burn mechanism.
Bitgert: BRISE is valued at $0.000000349 after declining by 2.94% in the last 24 hours. Its market capitalization stands at $139.43 million. The project will launch a marketplace for Web3 real estate soon.
Toncoin: TON plummeted 2.12% to change hands for $1.956 at press time. Its market capitalization is $2.38 billion. The project’s Hackathon starts on May 27.
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