CryptoSlate Daily wMarket Update: Axie Infinity records surprise 40% gains CryptoSlate Daily wMarket Update: Axie Infinity records surprise 40% gains
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: Jan. 23, 2023 at 12:40 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The cryptocurrency market cap saw net inflows of $73.96 billion since the last report on Jan. 20 and currently stands at $1,050 billion — up 7.6% from $976.82 billion.
Bitcoin and Ethereum’s market cap grew 9% and 5.6% to $440.68 billion and $200.39 billion, respectively, since Jan. 20.
Over the last 24 hours, the top 10 cryptocurrencies all posted gains, excluding Cardano and Solana, down 1% and 1.5% over the reporting period. Dogecoin leads the top 10, gaining 4.6%, closely followed by XRP at 4.1%.
The market caps of Tether (USDT) and USD Coin (USDC) increased to $66.76 billion and $43.65 billion, respectively. By contrast, the BinanceUSD (BUSD) market cap fell to $16.04 billion.
Bitcoin
Over the last 24 hours, Bitcoin rose 0.3% to trade at $22,874 as of 07:00 ET. Its market dominance grew to 42% from 41.4%.
Since Jan. 20, BTC saw a sharp uptick that topped out at $23,388 on Saturday. The ensuing downtrend found support at $22,299 on Sunday evening London time.
Ethereum
Ethereum grew 0.6% over the last 24 hours to trade at $1,636 as of 07:00 ET. Its market dominance fell to 19.1% from 19.4%.
ETH mirrored Bitcoin’s price movements, peaking at $1,680 before finding support at $1,603 during early Sunday morning London time. The token has been ranging between $1,628 and $1,643 today.
Top 5 Gainers
Axie Infinity
AXS is the day’s biggest gainer, increasing 39.5% over the reporting period to $12.8113 as of press time. The reason for the price spike is unknown at this time. Its market cap stood at $1.2 billion.
STEPN
GMT grew 25.9% in the last 24 hours to $0.63895. The project recently announced several updates, including IRL events and additions to its roadmap. Its market cap stood at $383.37 million.
Smooth Love Potion
SLP rose 24.1% in the last 24 hours to $0.00342. The in-game currency of Axie Infinity is up over 54% over the last month. Its market cap stood at $145.65 million.
Hooked Protocol
HOOK gained 19.9% to trade at $2.72438 as of press time. The gaming token rose by over 60% in the last seven days. Its market cap stood at $136.22 million.
RenderToken
RNDR gained 19.2% in the last 24 hours to $0.79934. The token is up over 87% over the last 30 days. Its market cap stood at $202.87 million.
Top 5 Losers
LUKSO
LYXe is the day’s biggest loser, falling 14.8% over the reporting period to $9.15080 as of press time. Its market cap stood at $140.98 million.
Serum
SRM is down 7.2% over the reporting period to $0.40846. The Solana-based DEX experienced a resurgence following cutting ties with FTX. Despite today’s sell-off, SRM is still up 185% over the past 30 days. Its market cap stood at $107.52 million.
SingularityNET
AGIX declined 6.2% to $0.18267 as of press time. Despite today’s dip, off the back of interest in AI, AGIX is still up over 262% over the past 30 days. Its market cap stood at $219.04 million.
Bitgert
BRISE fell 4.9% in the last 24 hours to $0.000000359454. Its market cap stood at $140.77 million.
LooksRare
LOOKS lost 5.4% in the last 24 hours to $0.22047. Its market cap stood at $103.52 million.
Mentioned in this article
Bitcoin 
Ethereum 
Axie Infinity 
GMT 
Hooked Protocol 
Render 
Smooth Love Potion 
LUKSO (Old) 
SingularityNET 
Bitgert 
LooksRare 
Serum 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
$3,469.85
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Axie Infinity
$6.46481
Axie Infinity is a game about collecting and raising fantasy creatures called Axie, on Ethereum platform.
GMT
$0.14493
STEPN is a Web3 lifestyle app with fun social elements and gamification design.
Hooked Protocol
$0.42261
Hooked Protocol is building the on-ramp layer for massive Web3 adoption, providing tailored Learn & Earn products and onboarding infrastructures for users & businesses to enter the new world of web3.
Render
$7.47792
Rendertoken is a decentralized economy of 3D assets utilizing the global network of GPU devices through its cloud rendering technology.
Smooth Love Potion
$0.00413
Smooth Love Potion (SLP) tokens can be earned as rewards by Axie Infinity game players through battle or adventure mode.
LUKSO (Old)
$2.59827
LUKSO, the Blockchain for the new digital lifestyle is created by former Ethereum Developer Fabian Vogelsteller, author of ERC20 and ERC725, developer of web3.js and the Mist Browser.
SingularityNET
$0.59206
SingularityNET is a decentralized marketplace for AI services.
Bitgert
$0.00000
Bitgert (BRISE) is a crypto engineering project launched in July 2021 that specializes in blockchain products and auditing solutions.
LooksRare
$0.06017
LOOKS is the token powering LooksRare, the community-focused NFT marketplace that actively rewards traders and creators for participating.
Serum
$0.03299
Serum is a decentralized exchange (DEX) built on the Solana blockchain.
