CryptoSlate wMarket Update: XRP leads large caps as market recovers recent losses CryptoSlate wMarket Update: XRP leads large caps as market recovers recent losses
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: May. 18, 2023 at 12:33 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The cryptocurrency market saw net inflows of $17.1 billion over the last 24 hours and currently stands at $1.14 trillion โ up 1.5% from $1.12 trillion.
During the reporting period, the Bitcoin (BTC) and Ethereum (ETH) market caps grew 1.8% and 1.2% to $529.94 billion and $219.63 billion, respectively.
The top 10 crypto assets recorded gains over the last 24 hours. XRP leads the pack, up 3.7%, due to positive developments in the SEC lawsuit and acquisition of custody firm Metaco. Litecoin posted the most minor gains, up 0.5%.
The market cap of Tether (USDT) grew to $82.85 billion. In contrast, USD Coin (USDC) and Binance USD (BUSD) fell to $29.49 billion, and $5.54 billion, respectively.
Bitcoin
In the last 24 hours, Bitcoin grew 1.8% to trade at $27,350 as of 07:00 ET. Its market dominance increased to 46.5% from 46.4%.
During the reporting period, BTC increased to top out at $27,500. Bitcoin bulls retained most of the gains, defending $27,160 to set off another uptrend in the early hours (ET).
Ethereum
In the last 24 hours, Ethereum increased 1.2% to trade at $1,826 as of 07:00 ET. Its market dominance stayed flat at 19.3%.
Over the reporting period, ETH price action followed a similar pattern to Bitcoin, peaking at $1,835 by early evening Wednesday. A slight dip bounced at $1,815, triggering a move higher that met resistance at $1,832.
Top 5 Gainers
RenderToken
RNDR is the day’s biggest gainer, growing 17.5% over the last 24 hours to $2.34706 as of press time. Its market cap stood at $854.12 million.
Cocos-BCX
COCOS grew 16.8% over the last 24 hours to $1.63858 as of press time. Binance will support the upcoming token swap and rebrand to COMBO. Its market cap stood at $116.42 million.
TomoChain
TOMO rose 16.5% to $1.04347 as of press time. The project will attend Web3 Berlin on June 10-11. Its market cap stood at $105.35 million.
Cartesi
CTSI jumped 16.2% to $0.19932 over the last 24 hours. Cartesi hosted a panel discussion with other Ethereum ecosystem projects on May 17. Its market cap stood at $144.18 million.
ssv.network
SSV gained 11.9% to trade at $23.8130 at the time of writing. The project announced partnering with Unamano for ETH staking applications. Its market cap stood at $238.13 million.
Top 5 Losers
Axie Infinity
AXS is the day’s biggest loser falling 6.1% to $7.21966 at the time of press. Axie Infinity was a top gainer yesterday after the game was listed on the Apple App Store. Its market cap stood at $844.39 million.
Axelar
AXL dropped 5% to trade at $0.49379. Axelar co-founder Sergey Gorbunov appeared on the Bankless Podcast recently. Its market cap stood at $129.48 million.
Gala
GALA sunk 3.9% to $0.03268 asย of press time. The project recently migrated to a new contract address. Its market cap stood at $228 million.
Bitgert
BRISE lost 2.9% to $0.000000349444 over the reporting period. The project is set to release a Web3 real estate marketplace. Its market cap stood at $139.44 million.
Toncoin
TON fell 1.8% to $1.95648 over the reporting period. The Toncoin Hackathon will take place on May 27. Its market cap stood at $2.39 billion.
Mentioned in this article
Bitcoin 
Ethereum 
Render 
Cartesi 
Cocos-BCX 
TomoChain 
ssv.network 
Axelar 
Axie Infinity 
Gala 
Bitgert 
TON 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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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,301.63
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Render
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Rendertoken is a decentralized economy of 3D assets utilizing the global network of GPU devices through its cloud rendering technology.
Cartesi
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Cartesi is an Operating System for DApps that provides a Linux runtime environment for DApps, enabling complex and intensive computations to run outside blockchains without compromising decentralization.
TomoChain
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Tomochain is an innovative solution to the scalability problem with the Ethereum blockchain.
ssv.network
$19.7582
ssv.network is a decentralized staking infrastructure that powers the distributed operation of Ethereum validators through a unique protocol known as Secret Shared Validators (SSV).
Axie Infinity
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Axie Infinity is a game about collecting and raising fantasy creatures called Axie, on Ethereum platform.
Gala
$0.02847
GALA claims to be designed to power the Gala Games ecosystem to support gaming re-imagined to benefit creators and players, alike.
Bitgert
$0.00000
Bitgert (BRISE) is a crypto engineering project launched in July 2021 that specializes in blockchain products and auditing solutions.
TON
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TON is a third-generation proof-of-stake blockchain designed in 2018 by the Durov brothers, the founders of Telegram Messenger.