CryptoSlate Daily wMarket Update: Dogecoin rally defies overall market sentiment

The cryptocurrency market cap saw net outflows of around $5.59 billion over the last 24 hours and currently stands at $1,041.72 billion — down 0.65% from $1,047.31 billion.

Over the reporting period, Bitcoin and Ethereum’s market cap fell by 1.06% and 0.74% to $441.02 billion and $192.3 billion, respectively.

All top 10 crypto assets printed losses except Dogecoin, Litecoin, and BNB. DOGE rose the highest following news that Elon Musk plans to build a payment system that could support crypto on Twitter.

Over the last 24 hours, the market cap of Tether (USDT) grew to $67.82 billion. On the other hand, the market caps of USD Coin (USDC) and BinanceUSD (BUSD) marginally decreased to $42.72 billion and $15.73 billion, respectively.

Bitcoin

Over the last 24 hours, Bitcoin fell 1.53% to trade at $22,877 as of 07:00 ET. Its market dominance dropped to 42.4% from 42.5%.

During the reporting period, Bitcoin saw its third-highest long liquidation of the year, as traders holding long positions in the asset were liquidated following its decline to under $23,000.

Ethereum

Ethereum lost 0.88% over the last 24 hours to trade at $1,570 as of 07:00 ET. Its market dominance rose to 18.5% from 18.4%.

ETH price action mirrored BTC, trading mostly sideways after bottoming at $1,546 over the reporting period.

Top 5 Gainers

Everscale

EVER is the day’s biggest gainer for the second consecutive day, increasing 70.91% over the reporting period to $0.16 as of press time. The project developers have described the new interest and growth within its ecosystem as organic, promising new updates in the future. Its market cap stood at $291.63 million.

MobileCoin

MOB rose 58.34% in the last 24 hours to $1.74 as of press time. The privacy-focused asset has increased by 48% in the previous seven days. Its market cap stood at $128.81 million.

Wrapped Everscale

The wrapped version of Everscale, WEVER, is among the day’s top gainers. The token has increased by 38% to $0.087. Its market cap stood at $151.24 million.

Voyager Token

VGX gained 31.37% in the last 24 hours to trade at $0.53 as of press time. Alameda Research has filed a lawsuit against Voyager to claw back its $446 million loan repayment. Its market cap stood at $150.28 million.

Mask Network

MASK jumped 26.99% over the reporting period to $3.72. The content creation token’s value rallied following news of Elon Musk’s plan to build a payment system that could support crypto on Twitter. Its market cap stood at $254.23 million.

Top 5 Losers

Conflux Network

CFX is the day’s biggest loser, decreasing 11.37% over the reporting period to $0.053 as of press time. The token has experienced a massive sell-off in the last 48 hours, trading at 95% below its all-time high. Its market cap stood at $111.11 billion.

Hooked Protocol

HOOK’s value declined for the second consecutive day, falling by 11.18 in the last 24 hours to $3.11. The protocol is trying to draw interest with the launch of its Hooked Avatar NFTs. Its market cap stood at $139.5 million.

BitDAO

BIT plunged 10.57% to $0.49. Despite the broader crypto market rally, the governance token has been down 7% over the past month. Its market cap stood at $1.04 billion.

Alethea Artificial Liquid Intelligence Token

ALI is on the top losers’ list for the second consecutive day. It is down 10.15% over the reporting period to $0.032 as of press time. The AI token has fallen by nearly 10% in the last seven days. Its market cap stood at $115.64 million.

SKALE Network

SKL lost 9.41% to trade at $0.033 as of press time. Its market cap stood at $139.43 million.

Mentioned in this article

Bitcoin Ethereum Alethea Liquid Intelligence SKALE Network Voyager Token Mask Network Conflux Network Hooked Protocol Everscale Wrapped Everscale BitDAO MobileCoin X Elon Musk

Author

Oluwapelumi Adejumo

Journalist at CryptoSlate

Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.

@hardeyjumoh LinkedIn Email Oluwapelumi

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