Market weakness sees Bitcoin lose $22,000: CryptoSlate Daily wMarket Update Market weakness sees Bitcoin lose $22,000: CryptoSlate Daily wMarket Update
The wMarket Update condenses the most important price movements in the crypto markets over the reporting period, published 07:45 ET on weekdays.
3 min read
Updated: Mar. 9, 2023 at 1:25 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The cryptocurrency market cap saw net outflows of $16 billion over the last 24 hours and currently stands at $995.26 billion — down 1.6% from $1,011.26 billion.
Over the reporting period, Bitcoin and Ethereum’s market cap fell 1.9% and 1.4% to $418.54 billion and $187.76 billion, respectively.
The top 10 crypto assets recorded a mixed performance over the last 24 hours. The top gainer was XRP for the third successive day, up 1.5% today. In contrast, Polygon sinks 6.3%, followed by Solana, down 4.3%.
In the last 24 hours, the market caps of Tether (USDT,) USD Coin (USDC,) and Binance USD (BUSD) fell to $71.73 billion, $43.29 billion, and $8.4 billion, respectively.
Bitcoin
In the last 24 hours, Bitcoin decreased 1.9% to trade at $21,665 as of 07:00 ET. Its market dominance decreased to 42.1% from 42.2%.
Over the reporting period, BTC peaked at $22,233, followed by another rejection at this approximate resistance level. A sharp spill occurred by 18:00 (ET,) losing $22,000 to find support at $21,583. The ensuing downtrend saw another fall that found support at $21,532.
Ethereum
Over the last 24 hours, Ethereum fell 1.4% to trade at $1,535 as of 07:00 ET. Its market dominance stayed flat at 18.9%.
During the reporting period, ETH failed to break through the $1,566 resistance zone, resulting in a sharp sell-off six hours later. Subsequently, the $1,530 support level was breached multiple times, but each candle closed above that level.
Top 5 Gainers
RSK Infrastructure Framework
RIF is the day’s biggest gainer, rising 6.2% over the reporting period to $0.13129 as of press time. The token gained 91.8% over the past month. Its market cap stood at $124.3 million.
Kava
KAVA jumped 5.8% to $0.86775. Akash Network recently announced an onboarding program to incentivize KAVA validators. Its market cap stood at $378.2 million.
TerraUSD
USTC increased 4.7% in the last 24 hours to trade at $0.02424 as of press time. The spiritual successor to USDT remains significantly below its one-dollar peg price. Its market cap stood at $237.54 million.
Liquity
LQTY gained 4.7% in the last 24 hours to trade at $1.86339. The token grew 161% over the past month. Its market cap stood at $169.73 million.
Dogelon Mars
ELON is up 2.1% to $0.000000341787 as of press time. Its market cap stood at $185.88 million.
Top 5 Losers
Voyager Token
VGX is the day’s biggest loser, falling 26.6% to trade at $0.43447 at the time of writing. The token experience a jump to $0.5908 on Wednesday as a judge approved the platform’s sale to Binance U.S. Its market cap stood at $120.99 million.
Alethea Liquid Intelligence
ALI lost 17.9% to $0.04684 as of press time. The token is down 40% over the past month. Its market cap stood at $168.08 million.
Immutable X
IMX fell 15.4% to $0.93951 over the reporting period. Having recently launched its Illuvium: Beyond card game, the token was a top-five gainer yesterday. Its market cap stood at $797.97 million.
WEMIX
WEMIX dumped 14.5% to $1.46061 in the last 24 hours. Its market cap stood at $356.46 million.
yearn.finance
YFI shed 12% in the last 24 hours to trade at $8,147.53. Its market cap stood at $298.51 million.
Mentioned in this article
Bitcoin 
Ethereum 
RSK Infrastructure Framework 
TerraClassicUSD 
Kava 
Liquity 
Dogelon Mars 
Voyager Token 
Alethea Liquid Intelligence 
Immutable 
WEMIX 
yearn.finance Author 
Samuel Wan
Samuel Wan, a finance professional turned full-time crypto content creator, values individual autonomy and personal freedom in his pursuits.
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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,351.61
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
RSK Infrastructure Framework
$0.11904
RIF (Rootstock Infrastructure Framework) is a third layer on top of Bitcoin that provides a wide range of solutions based on blockchain technology such as payments, storage, and domaining (RNS).
TerraClassicUSD
$0.02113
TerraUSD (UST) is a decentralized and algorithmic stablecoin on the Terra blockchain.
Kava
$0.47998
Kava is a lightning-fast Layer-1 blockchain featuring a developer-optimized co-chain architecture that combines the two most used permissionless ecosystems – Ethereum and Cosmos – into a single, scalable, network.
Liquity
$1.22040
Liquity is a decentralized borrowing protocol built on Ethereum that utilizes LQTY, a USD-pegged stablecoin.
Dogelon Mars
$0.00000
Dogelon Mars is a meme cryptocurrency that is running on the Ethereum blockchain..
Voyager Token
$0.09413
The Voyager Token (VGX) rewards users within the Voyager crypto broker ecosystem.
Alethea Liquid Intelligence
$0.01326
Alethea AI is building a decentralized protocol to create an Intelligent Metaverse inhabited by interactive and intelligent NFTs (iNFTs).
Immutable
$1.45767
Immutable X positions itself as the first layer-two scaling solution for NFTs on Ethereum.
WEMIX
$0.98661
Wemix is a blockchain based Global Gaming Platform developed by Wemade Tree that issubsidiary company of WEMADE as its flagship blockchain gaming services arm.
