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CryptoSlate wMarket Update: Bitcoin trades under $25,000 as rival coins falter
The wMarket Update condenses the most important price movements in the crypto markets over the reporting period, published 07:45 ET on weekdays.
Cover art/illustration via CryptoSlate. Image includes combined content which may include the use of AI tools.
In the last 24 hours, the cryptocurrency market cap remained flat at 1.09 trillion despite declining by around 0.16% during the reporting period.
Bitcoin market cap increased by 1.65% to $482.10 billion, while Ethereum's market cap decreased by 0.50% to $203.92 billion, respectively.
All top 10 cryptocurrencies recorded losses in the last 24 hours, except Bitcoin and BNB, which rose 1.59% and 2.8%, respectively. Shiba Inu and Solana were the biggest losers, tanking by more than 5% each.
In the last 24 hours, the market cap of Tether (USDT) increased to $74.47 billion. Meanwhile, Binance USD (BUSD) remained flat at $8.34 billion — while USD Coin (USDC) decreased to $37.49 billion.
Bitcoin
In the last 24 hours, Bitcoin increased 1.59% to trade at $24,966 as of 07:00 ET. Its market dominance increased to 44.5% from 43.8%.
During the reporting hours, Bitcoin mostly traded below $25,000 after peaking at $25,240. The flagship digital asset market dominance has risen following the recent wave of positive sentiments surrounding the market.
Ethereum
Over the last 24 hours, Ethereum fell 1.35% to trade at $1,664 as of 07:00 ET. Its market dominance dropped to 18.8% from 19.0%.
ETH's price performance mirrored that of Bitcoin. The asset peaked at $1701 before returning to its current levels.
Top 5 Gainers
Prom
PROM is the day's biggest gainer, rising 35.28% over the reporting period to $6.32 as of press time. The NFT-related token has increased by 42% over the last seven days. Its market cap stood at $115.45 million.
Gains Network
GNS gained 20.34% to $9.17 as of press time. The decentralized finance (DeFi) project native token has increased by 31% over the last seven days. Its market cap stood at $279.44 million.
Mask Network
MASK is among the day's top gainers after increasing 12.94% to $4.03 at the time of writing. The decentralized portal rose 8% in the past 30 days. Its market cap stood at $306.99 million.
GMX
GMX surged 11.55% to $82.01. The decentralized exchange token has risen by 22% in the last seven days. Its market cap stood at $701.19 million.
MAGIC
MAGIC is up 7.03% to $1.65 as of press time. Its market cap stood at $351.45 million.
Top 5 Losers
Bone ShibaSwap
BONE is the day's biggest loser, falling 13.71% to trade at $1.30 at the time of writing. The Shiba Inu-related token has fallen 19% over the last 30 days. Its market cap stood at $300.16 million.
Onyxcoin
XCN plunged 12.77% to $0.0053. The blockchain network has declined 31% over the previous week. Its market cap stood at $125.22 million.
Maker
MKR is down 12.24% to $747.898. The DeFi token has erased all the gains it made earlier in the week. Its market cap stood at $731.17 million.
Flare
FLR decreased 11.62% to $0.029 over the reporting period. The token declined 30% over the last 30 days. Its market cap stood at $352.16 million.
Lido DAO Token
LDO fell 11.66% to $2.42. The liquid staking protocol said it expects staked Ethereum withdrawals by May. Its market cap stood at $2.07 billion.
