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
Author 
Samuel Wan
Samuel Wan, a finance professional turned full-time crypto content creator, values individual autonomy and personal freedom in his pursuits.
Editor Editor 
Jacob Oliver
Jacob Oliver is a recovering academic and English teacher turned crypto journalist and web3 writer. He holds a Ph.D. from the University of Washington.
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