Bitcoin’s price maintains $26.5K despite continued regulatory woes: CryptoSlate wMarket Update Bitcoin’s price maintains $26.5K despite continued regulatory woes: 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. 9, 2023 at 1:07 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The cryptocurrency market saw mild net inflows of $0.23 billion over the last 24 hours and currently stands at $1.11 trillion — up 0.22%.
During the reporting period, Bitcoin (BTC) market cap rose 0.55% to 515.53 billion, while Ethereum’s (ETH) market cap fell 0.14% to 221.42 billion.
The top 10 digital assets by market cap posted gains during the reporting period, except for Ethereum, BNB, and Cardano.
ADA topped the losers list with a 3.31% loss, while Solana led the gainers with a 1.98% increase.
Tether’s market cap (USDT) increased to $83.34 billion. The market cap of rival stablecoins USD Coin (USDC) and Binance USD (BUSD) continued their descents and currently stand at $28.43 billion and $4.86 billion, respectively.
Bitcoin
Bitcoin gained 0.55% and traded at $26,638 as of 07:00 ET. Its market dominance rose to 46.7% from 46.6%
BTC peaked at $26,797 during the reporting period despite Binance.US announcing that its USD channels would be closed from June 13. CryptoSlate Research reported that the flagship digital asset maintained performance above $25,300.
Ethereum
Over the last 24 hours, Ethereum lost 0.14% to trade at $1,844 as of 07:00 ET. Its market dominance fell to 20.0% from 20.1%.
ETH peaked at $1,861 during the reporting period before dropping to its current levels.
Top 5 Gainers
Beldex
BDX is the day’s biggest gainer, growing 10.2% over the last 24 hours to $0.049 as of press time. The project has gained over 23% in the previous week. Its market cap stood at $265.72 million.
MobileCoin
MOB rose 9.37% over the last 24 hours to $0.64 as of press time. The privacy coin is down 16% in the previous 30 days. It has a market cap of $125.03 million.
Kaspa
KASPA jumped 8% to $0.015 during the last 24 hours. A data agency in France 10h11 started accepting the digital asset as a payment method, according to a June 7 tweet from the project. Its market cap stood at $300.82 million.
Biconomy
BICO increased 5.75% to trade at $0.25 at the time of writing. The network’s account abstraction feature enjoys more adoption, performing almost 20,000 transactions during the first week of June. Its market cap stood at $140.42 million.
Skale Network
SKL gained 4.41% to $0.031 as of press time. Despite today’s upside, the Ethereum-based token has shed 10% in the last seven days. Its market cap stood at $106.77 million.
Top 5 Losers
Hex
HEX is the day’s biggest loser, falling 11.13% to $0.00989 at the time of press. The token has been on a downward trend over the past month, down 86%. Its market cap stood at $1.72 billion.
iExec RLC
RLC is back among the top losers’ list. The token fell 7.63% to $1.38 over the reporting period. Its market cap stood at $100.33 million.
Ocean Protocol
OCEAN lost 4.45% to trade at $0.105 as of press time. Its market cap stood at $205.2 million.
NYM
NYM had sunk 3.94% to $4.67 as of press time. The privacy network introduced a socks5 client that allows users proxy desktop application traffic through the mixnet. Its market cap stood at $104.44 million.
Flex
FLEX is down 1.78% in the last 24 hours and was trading for $2.46 at the time of writing. The exchange token is among the top gainers for the previous seven days, rising 122%. Its market cap stood at $242.81 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
$3,836.47
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
FLEX
$3.00199
FLEX is the coin that powers CoinFLEX, a physically settled futures exchange.
Ocean Protocol
$0.68578
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.
iExec RLC
$2.23212
iExec RLC aims at providing distributed applications running on the blockchain a scalable, secure and easy access to the services, the data-sets and the computing resources they need..
HEX
$0.00536
HEX is a cryptocurrency launched in late 2019 by the founder going by the name “Richard Heart” and “RadicalHeart.” It is an ERC20 token built on the Ethereum blockchain, with a maximum supply of 633,642,618,630 HEX tokens.
Kaspa
$0.13638
Kaspa is a proof-of-work cryptocurrency which implements the GHOSTDAG protocol.
BICONOMY
$0.33034
Biconomy is a multichain relayer protocol that aims to improve the user onboarding and transaction experience on decentralized applications (DApps).
