Crypto market massacre sees $78B in outflows: CryptoSlate Daily 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.
The cryptocurrency market cap saw net outflows of $77.63 billion over the last 24 hours and currently stands at $917.63 billion — down 7.8% from $995.26 billion.
Over the reporting period, Bitcoin and Ethereum’s market cap fell 8.9% and 10% to $381.71 billion and $169.6 billion, respectively.
The top 10 crypto assets recorded losses over the last 24 hours. The biggest losers were Solana, down 11.9%, and Dogecoin, which fell 11%. Cardano fared best, limiting its losses to 4.6% amid the market carnage.
In the last 24 hours, the market caps of Tether (USDT) and USD Coin (USDC) increased to $71.76 billion and $43.51 billion, respectively. Meanwhile, Binance USD (BUSD) stayed flat at $8.4 billion.
In the last 24 hours, Bitcoin decreased 8.9% to trade at $19,729 as of 07:00 ET. Its market dominance decreased to 41.6% from 42.1%.
Over the reporting period, BTC peaked at $21,825 before trickling downwards to find support at $20,050. A muted bounce topped out at $20,500, leading into a gradual downtrend, losing $20,000 in the process.
Over the last 24 hours, Ethereum fell 10% to trade at $1,383 as of 07:00 ET. Its market dominance fell to 18.5% from 18.9%.
ETH’s price performance mirrored that of Bitcoin. A peak of $1,546 was followed by a sharp sell-off that found support at $1,408. The ensuing bounce topped at $1,449, turning into a gradual downtrend that printed a local bottom at $1,370.
Top 5 Gainers
MV is the day’s biggest gainer, rising 8.7% over the reporting period to $0.12979 as of press time. The project recently launched a program to reward creators. Its market cap stood at $221.85 million.
ELF jumped 6.3% to $0.29471. aelf extended its mainnet token swap to June. Its market cap stood at $171.36 million.
HFT increased 2.8% in the last 24 hours to trade at $0.60829 as of press time. Its market cap stood at $115.46 million.
RACA gained 2.1% in the last 24 hours to trade at $0.00038. The token fell 15.4% over the past week. Its market cap stood at $120.96 million.
KAVA is up 0.9% to $0.87093 as of press time. The project announced a $750 million developer incentive fund recently. Its market cap stood at $380.58 million.
Top 5 Losers
FLOKI is the day’s biggest loser, falling 25.3% to trade at $0.00003 at the time of writing. The token was recently listed on the WazirX exchange. Its market cap stood at $242.49 million.
XCN fell 22.9% to $0.00598 over the reporting period. The token is down 45.8% over the past month. Its market cap stood at $140.51 million.
CORE lost 22.4% to $2.09076 as of press time. Its market cap stood at $133.53 million.
HT dumped 21.4% to $3.80856 in the last 24 hours. Justin Sun blamed the token’s flash crash on leveraged liquidations causing a price cascade down. Its market cap stood at $617.88 million.
AGIX shed 20.9% in the last 24 hours to trade at $0.29556. Its market cap stood at $356.24 million.