Bitcoin briefly recaptures $27k in mixed market performance: CryptoSlate wMarket Update Bitcoin briefly recaptures $27k in mixed market performance: CryptoSlate 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: Jun. 7, 2023 at 12:57 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The cryptocurrency market saw net outflows of around $25 billion over the last 24 hours and currently stands at $1.11 trillion — up 1.90% from $1.09 trillion.
During the reporting period, the market caps of Bitcoin (BTC) and Ethereum (ETH) rose 3.17% and 2.07% to $517.08 billion and $223.69 billion, respectively.
Over the last 24 hours, BNB, Cardano, Solana, Polygon, and Tron recorded steep losses while other top 10 assets saw gains.
Bitcoin and XRP gained over 3%, respectively. Ethereum rose 2.07%, while Dogecoin and Litecoin grew by 1.5%.
The market cap of Tether (USDT) grew to $83.30 billion, while that of USD Coin (USDC) and Binance USD (BUSD) fell to $28.66 billion and $4.99 billion, respectively.
Bitcoin
Bitcoin increased by 3.17% and traded at $26,600 as of 07:00 ET. Its market dominance jumped to 46.4% from 45.7%
BTC rose to as high as $27,332 as the bulls took control of the market despite news of the SEC’s lawsuit against Coinbase. Crypto analyst Ran Neuner pointed out that the value of the flagship digital asset is now higher than before the financial regulator sued the two largest exchanges in the industry.
Ethereum
Over the last 24 hours, Ethereum rose 2.07% to trade at $1,858 as of 07:00 ET. Its market dominance rose to 20.1% from 20%.
ETH mirrored BTC’s price performance, peaking at $1,896 during the reporting period. The asset’s upward price movement liquidated $17.40 million from short sellers in the last 24 hours, according to Coinglass data.
Top 5 Gainers
ARAW
ARAW is the day’s biggest gainer, growing 98.86% over the last 24 hours to $0.101 as of press time. The project has gained over 200% in the previous 30 days. Its market cap stood at $203.14 million.
FantasyGold
FGC soared 77.19% to $1.12 over the last 24 hours. The token is down 86% over the previous week. Its market cap stood at $156.92 million.
Flex
FLEX grew 67.03% over the last 24 hours to $2.33 as of press time. The OPNX exchange token has enjoyed increased interest following new developments on the platform. It has a market cap of $230.01 million.
Global Currency Reserve
GCR increased 44.18% to trade at $1.29 at the time of writing. Despite today’s upside, the token is down 1% over the past week. Its market cap stood at $138.64 million.
Metal
MTL rose 19.21% to $1.81 as of press time. The Ethereum-based token has been up 79% in the last seven days. Its market cap stood at $120.56 million.
Top 5 Losers
Wemix
WEMIX is the day’s biggest loser, falling 8.87% to $0.67 at the time of press. The token has been on a downward trend over the past month, down 22%. Its market cap stood at $169.81 million.
Space ID
ID is on the top loser’s list for the second consecutive day. The token fell 6.64% to $0.356 over the reporting period. Its market cap stood at $115.02 million.
ApeCoin
APE sunk 7.63% to $2.945 as of press time. The NFT-related token is gearing for the release of 15.6 million tokens worth $50 million on June 16, according to Token Unlocks data. Its market cap stood at $1.09 billion.
Cardano
ADA is down 4.94% in the last 24 hours and was trading for $0.33 at the time of writing. The smart contract network token is one of the several digital assets the SEC labeled as security. Its market cap stood at $11.77 billion.
Flare
FLR lost 4.94% to trade at $0.01996 as of press time. Its market cap stood at $331.12 million.
Mentioned in this article
Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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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
$3,281.46
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Flare
$0.02579
Flare is an EVM-based Layer 1 blockchain designed to allow developers to build applications that are interoperable with blockchains and the internet.
Cardano
$0.86844
Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source.
ApeCoin
$1.14617
ApeCoin is an ERC-20 governance and utility token used within the APE Ecosystem to empower and incentivize a decentralized community building at the forefront of web3.
WEMIX
$0.84352
Wemix is a blockchain based Global Gaming Platform developed by Wemade Tree that issubsidiary company of WEMADE as its flagship blockchain gaming services arm.
Metal
$1.15399
Metal is a payments-based cryptocurrency and incentivization network..
FLEX
$3.00199
FLEX is the coin that powers CoinFLEX, a physically settled futures exchange.
FantasyGold
$2.13495
Fantasy Gold is a peer to peer cryptocurrency and blockchain that started out to serve the $7 Billion fantasy sports industry in both the B2B and B2C spaces as well as the $1.5 billion competitive eSports industry in 2017.