Bitcoin dips below $27k in red market: CryptoSlate wMarket Update Bitcoin dips below $27k in red market: 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. 5, 2023 at 1:02 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Since last Friday’s wMarket report, the cryptocurrency market saw net outflows of $17 billion and currently stands at $1.13 trillion — down 1.54%.
The market capitalizations of Bitcoin (BTC) and Ethereum (ETH) plunged 1.74% and 1.99% to $518.99 billion and $224.63 billion, respectively.
Over the last 24 hours, all top 10 cryptocurrencies by market capitalization recorded losses, except XRP, which gained 1.28%.
Litecoin and BNB led the losers, shedding 3.65% and 2.2%, respectively.
The market cap of Tether (USDT) remained flat at $83.16 billion, while that of USD Coin (USDC) and Binance USD (BUSD) fell to $28.89 billion and $5.28 billion, respectively.
Bitcoin
Bitcoin fell by 1.74%, trading at $26,744 as of 07:00 ET. Its market dominance dropped to 45.8%.
BTC mostly traded above $27,000 during the weekend, peaking at $27,740 on Sunday. However, the flagship digital asset has trended down to $26,744 during the early trading hours of today.
Ethereum
Over the last 24 hours, Ethereum shed 1.99% to trade at $1,867 as of 07:00 ET. Its market dominance rose to 19.8% from 19.7%.
Over the weekend, ETH mirrored BTC’s price performance, peaking at $1915 on Sunday. The asset fell to its current level during the early trading hours.
Top 5 Gainers
FLEX
FLEX is the day’s biggest gainer, growing 20.77% over the last 24 hours to $1.37866 as of press time. The project has enjoyed some upside since OPNX launched a new 0X governance token. Its market cap stood at $136.03 million.
Multichain
MULTI soared 15.31% to $4.42277 over the last 24 hours. Some of the cross-chain bridge routers resumed operations after weeks of inaction. Its market cap stood at $64.31 million.
tomiNet
TOMI gained 12.68% to trade at $5.41112 at the time of writing. The token is up 71% over the past month. Its market cap stood at $214.51 million.
Terra Classic
LUNC grew 8.04% over the last 24 hours to $0.00010 as of press time. The project’s community is about to begin voting on the v2.1.0 upgrade proposal. It has a market cap of $568.02 million.
The Sandbox
SAND rose 5.55% to $0.60763 as of press time. News of the potential unveiling of Apple’s extended reality (XR) headset has pushed several metaverse tokens higher. Its market cap stood at $1.13 billion.
Top 5 Losers
Core
CORE is the day’s biggest loser, falling 15.19% to $1.11843 at the time of press. Despite today’s drawdown, the token is up 28% over the past week. Its market cap stood at $139.37 million.
ABBC Coin
ABBC fell 9.77% to $0.18803 over the reporting period. The project recently warned its community members to be wary of scammers posing as its Foundations members. Its market cap stood at $267.32 million.
Pepe
PEPE lost 8.2% to trade at $0.000001169. The high-flying meme coin is 62% below its all-time high of $0.000004354. Its market cap stood at $462.18 million.
Just
JST sunk 7.98% to $0.02421 as of press time. According to its Foundation, the Tron-based DeFi project recorded increased transactions over the last seven days. Its market cap stood at $215.49 million.
Ocean Protocol
OCEAN fell 7.53% to trade at $0.38543 at the time of writing. The filesharing token has been up 10% over the last seven days. Its market cap stood at $236.3 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
$3,461.87
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
JUST
$0.03857
JUST aims to build a fair, decentralized financial system that provides stablecoin lending and governance mechanisms for users around the world.
FLEX
$3.00199
FLEX is the coin that powers CoinFLEX, a physically settled futures exchange.
Ocean Protocol
$0.59946
Ocean Protocol is a tokenized service layer that exposes data, storage, compute and algorithms for consumption with a set of deterministic proofs on availability and integrity that serve as verifiable service agreements.
Multichain
$0.11086
Founded in July 2020 as a cross-chain decentralized exchange, Anyswap is now transforming into a cross-chain solution provider.
ABBC Coin
$0.00443
The ABBC platform will allow users to send and receive funds, make online purchases using their own ABBC wallet, exchange ABBC coins at profitable rates, as well as trade and manage funds..
The Sandbox
$0.59311
The Sandbox is a virtual world where players can build, own, and monetize their gaming experiences on the Ethereum blockchain using the platform’s utility token SAND.
