Bitcoin recaptures $27,000 following market reprieve: CryptoSlate wMarket Update Bitcoin recaptures $27,000 following market reprieve: 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. 2, 2023 at 12:46 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The cryptocurrency market saw net inflows of $12.5 billion over the last 24 hours and currently stands at $1.14 trillion — up 1.1% from $1.13 trillion.
During the reporting period, the market caps of Bitcoin (BTC) and Ethereum (ETH) grew 0.8% and 1.8% to $525.78 billion and $227.51 billion, respectively.
Over the last 24 hours, the top 10 cryptocurrencies all posted gains. Cardano tops the list, up 3.2%, while Dogecoin recorded the most minor increase at 0.6%.
The market caps of Tether (USDT) and USD Coin (USDC) grew to $83.27 billion and $28.96 billion, respectively. In contrast, Binance USD (BUSD) fell to $5.17 billion.
Bitcoin
Bitcoin increased by 0.8% to trade at $27,094 as of 07:00 ET. Its market dominance fell to 45.9% from 46.1%.
Over the last 24 hours, BTC began trending upward around 21:00 yesterday. The move peaked at $27,210 some four hours later, leading into a tight range between $27,060 and $27,180.
Ethereum
In the last 24 hours, Ethereum gained 1.8% to trade at $1,893 as of 07:00 ET. Its market dominance increased to 19.9% from 19.8%.
During the reporting period, ETH began moving higher Thursday evening to reach a local top of $1,898. The ensuing downturn found support at $1,885.
Top 5 Gainers
FantasyGold
FGC is the day’s biggest gainer, growing 112.3% over the last 24 hours to $26.01 as of press time. The token is up 903% over the past seven days. Its market cap stood at $3.63 billion.
ABBC Coin
ABBC gained 95.5% to trade at $0.21 at the time of writing. The ABBC Foundation announced its “Trade Plan,” giving users rewards. Its market cap stood at $308.97 million.
Global Currency Reserve
GCR grew 55.2% over the last 24 hours to $3.18 as of press time. The token is up 286.8% over the past seven days. Its market cap stood at $341.23 million.
Escroco Emerald
ESCE rose 47.7% to $0.36 as of press time. Its market cap stood at $368.42 million.
Linear
LINA jumped 24.4% to $0.02 over the last 24 hours. Huobi added the LINA-USDT pair for perpetual futures trading. Its market cap stood at $147.95 million.
Top 5 Losers
XinFin
XDC is the day’s biggest loser, falling 6.6% to $0.03 at the time of press. The project celebrated its mainnet’s fourth anniversary yesterday and was a top gainer. Its market cap stood at $508.19 million.
Alchemy Pay
ACH fell 4.2% to $0.02973 over the reporting period. The project recently launched its NFT Checkout function, enabling NFT purchases using the Mastercard network. Its market cap stood at $187.23 million.
Beldex
BDX sunk 2.8% to $0.04 as of press time. The project launched the desktop version of its BelNet decentralized VPN product recently. Its market cap stood at $215.3 million.
Kusama
KSM fell 2.8% to trade at $26.25 as of press time. The project last tweeted on May 15 about an Open Zepplin security review. Its market cap stood at $222.38 million.
GateToken
GT lost 2.5% to trade at $4.34. The token was yesterday’s top loser following the fallout from Multichain’s CEO going missing, which Gate denied had any impact on their operations. Its market cap stood at $425.19 million.
Mentioned in this article
Bitcoin 
Ethereum 
FantasyGold 
ABBC Coin 
Global Currency Reserve 
Linear 
Escroco Emerald 
XDC Network 
Alchemy Pay 
Beldex 
Kusama 
GateToken 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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Ethereum
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Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
FantasyGold
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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.
ABBC Coin
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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..
Global Currency Reserve
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GCRCoin is a new distributed cryptocurrency offering anyone the possibility to take advantage of the benefits of using cryptocurrencies in an easy way and with an added value.
Linear
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Linear Finance is a cross-chain compatible, decentralized delta-one asset protocol to cost-effectively create, manage, and trade synthetic assets with unlimited liquidity.
XDC Network
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XDC Network (formerly known as XinFin Network) is a hybrid (public / private) blockchain platform that combines the transparency of public blockchains with the speed and security of private networks.
Alchemy Pay
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Alchemy is the pioneer of Hybrid Crypto-Fiat Gateway that is bridging the gap between the fiat and crypto economies – driving crypto adoption by making payments, blockchain solutions and DeFI services readily available to everyone.
