Buoyant weekend price action sees Bitcoin recapture $27,000: 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.
Since last Friday’s wMarket report, the cryptocurrency market saw net inflows of $47.2 billion and currently stands at $1.16 trillion — up 4.2% from $1.12 trillion.
Over the last 24 hours, all of the top 10 cryptocurrencies recorded gains, with Ethereum leading the pack with a 3% increase.
The market caps of Tether (USDT) and USD Coin (USDC) grew to $83.16 billion and $29.06 billion, respectively. In contrast, Binance USD (BUSD) fell to $5.28 billion.
Bitcoin increased by 2.4%, trading at $27,870 as of 07:00 ET, with its market dominance rising to 46.6% from 46.1%.
Since last Friday, BTC set off on an uptrend that accelerated by Sunday evening to peak at $28,430 on news of a debt ceiling agreement being reached. Since then, the leading cryptocurrency trickled lower, finding support at $27,720.
In the last 24 hours, Ethereum gained 3% to trade at $1,903 as of 07:00 ET. Its market dominance rose to 19.7% from 19.6%.
Over the weekend, ETH saw two distinct spikes higher on Saturday evening and again on Sunday evening to top out at $1,928. A minor drawdown followed with support found at $1,892.
Top 5 Gainers
FGC is the day’s biggest gainer, growing 86.9% over the last 24 hours to $7.61621 as of press time. The project recently launched on BNB Smart Chain. Its market cap stood at $1.06 billion.
TOMO jumped 30.6% to $1.63325 over the last 24 hours. Its market cap stood at $165.1 million.
ARAW gained 20% to trade at $0.06515 at the time of writing. The token is up 44.5% over the past week. Its market cap stood at $129.89 million.
EDU grew 18.1% over the last 24 hours to $1.41808 as of press time. The project announced it would release its “Genius NFTs” collection soon. It has a market cap of $205.79 million.
GCR rose 11.1% to $1.14249 as of press time. The project announced launching on BNB Smart Chain and Aptos recently. Its market cap stood at $122.27 million.
Top 5 Losers
SURE is the day’s biggest loser, falling 5.9% to $0.00422 at the time of press. The token is down 25.3% over the past 30 days. Its market cap stood at $112.98 million.
RNDR fell 4.3% to $2.60087 over the reporting period. Its market cap stood at $952.92 million.
BGB lost 2% to trade at $0.16244. The token has lost 19.9% in value over the past 30 days. Its market cap stood at $150.25 million.
APT sunk 1.5% to $8.45638 as of press time. The project is hosting a Twitter Space on May 30. Its market cap stood at $1.68 billion.
EOS fell 1.4% to trade at $0.89579 as of press time. The EOS blockchain recently integrated the tokenization project Chintai. Its market cap stood at $978.57 million.