Crypto market cap down $41B: CryptoSlate wMarket update Crypto market cap down $41B: 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.
2 min read
Updated: Aug. 4, 2023 at 3:21 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The cryptocurrency market saw net outflows of $41.5 billion over the last 24 hours and currently stands at $1.01 trillion — down 3.9% from $1.06 trillion.
During the reporting period, the market caps of Bitcoin (BTC) and Ethereum (ETH) fell 4.2% and 6.5% to $482.59 billion and $196.32 billion, respectively.
Over the last 24 hours, all of the top 10 cryptocurrencies recorded losses, with Polygon dropping the most, down 7.9%, followed by Cardano, which lost 7%.
The market caps of Tether (USDT,) USD Coin (USDC,) and Binance USD fell to $83.39 billion, $28.09 billion, and $4.5 billion, respectively.
Bitcoin
Bitcoin fell 4.2% over the last 24 hours to trade at $24,861 as of 07:00 ET. Its market dominance fell to 47.5% from 47.6%.
BTC suffered a sharp drawdown on Wednesday late afternoon (ET,) finding support at $24,850. The Fed paused its rate hike program approximately two hours before. BTC traded between $24,900 and $25,220 since.
Ethereum
Ethereum lost 6.5% over the last 24 hours to trade at $1,633 as of 07:00 ET. Its market dominance fell to 19.3% from 19.8%.
During the reporting period, ETH followed a similar pattern to BTC, finding a local bottom at $1,632 by Wednesday late afternoon (ET) before recording a new daily low at $1,625 some twelve hours later.
Top 5 Gainers
TerraUSD
USTC is the day’s biggest gainer, growing 11% over the last 24 hours to $0.01293 as of press time. Its market cap stood at $225.1 million.
Kaspa
KAS rose 8% over the last 24 hours to $0.018 as of press time. KuCoin added the KAS/USDT margin trading pair recently. Its market cap stood at $346.55 million.
Trust Wallet Token
TWT gained 7.9% to $0.81 as of press time. The project hosted a Twitter Space discussing wallet security recently. Its market cap stood at $340.91 million.
USDX
USDX added 6.8% in the last 24 hours to trade at $0.82 at the time of writing. Its market cap stood at $91.78 million.
Ordinals
ORDI increased 3.7% to $5.54 during the last 24 hours. Its market cap stood at $116.43 million.
Top 5 Losers
tomiNET
TOMI is the day’s biggest loser, falling 13.7% to $4.11466 at the time of press. The token was listed on the BitMart exchange recently. Its market cap stood at $268.97 million.
Injective
INJ lost 11.7% to trade at $5.49 as of press time. Its market cap stood at $439.43 million.
Pendle
PENDLE fell 9.9% to $0.42 over the reporting period. Its market cap stood at $84.48 million.
Aave
AAVE lost 11.3% to $49.31 as of press time. The DeFi lending protocol is embroiled in anomalies related to USDT selling and subsequent liquidity pool imbalances. Its market cap stood at $711.41 million.
Lisk
LISK is down 11.4% in the last 24 hours and was trading for $0.69 at the time of writing. Lisk’s Discord was hacked. Its market cap stood at $89.81 million.
Mentioned in this article
Bitcoin 
Ethereum 
TerraClassicUSD 
Kaspa 
Trust Wallet Token 
USDX 
Ordinals 
tomiNet 
Injective 
Pendle 
Aave 
Lisk 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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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
$3,141.94
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
TerraClassicUSD
$0.02113
TerraUSD (UST) is a decentralized and algorithmic stablecoin on the Terra blockchain.
Kaspa
$0.15190
Kaspa is a proof-of-work cryptocurrency which implements the GHOSTDAG protocol.
Trust Wallet Token
$0.92089
Trust Wallet Token (TWT) is the official token of Trust Wallet, a user-friendly and versatile mobile cryptocurrency wallet that supports a wide range of assets across various blockchains.
Ordinals
$13.3125
The total amount of bitcoins is 21 million, and one can be subdivided into 100 million satoshi (satoshi is sat, the smallest unit of bitcoin), and there are 2100 trillion satoshi in total.
tomiNet
$0.01056
tomi is a project engaged in the development of a decentralized alternative internet network to be used as the infrastructure platform for the Web3.
Injective
$23.3563
Injective is an open interoperable smart contracts platform optimized for decentralized finance applications.
Pendle
$4.87183
Pendle is a protocol that enables the tokenization and trading of future yield.
Aave
$158.208
Aave is an open source and non-custodial protocol enabling the creation of money markets.
Lisk
$1.00080
Lisk is a blockchain application platform that inspires, enables and supports developers to build blockchain applications written in JavaScript..