CryptoSlate Daily wMarket Update: Bitcoin briefly touches $21,000 in market wide weekend pump CryptoSlate Daily wMarket Update: Bitcoin briefly touches $21,000 in market wide weekend pump
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. 16, 2023 at 12:45 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 around $6 billion in the last 24 hours and currently stands at $979 billion โ up 0.69%.
Over the reporting period, Bitcoin and Ethereum’s market cap increased by 0.72% and 0.87% to $402 billion and $189.18 billion, respectively.
Most top 10 cryptocurrencies recorded gains over the reporting period, excluding Dogecoin, Polkadot and Litecoin, which recorded losses.
Polygon and Solana posting the highest gains at 2.9% and 2.18%, respectively.
The market cap of Tether (USDT) rose to $66.38 billion in the last 24 hours. The market caps of USD Coin and BinanceUSD (BUSD) slightly decreased to $43.95 billion and $16.30 billion, respectively.
Bitcoin
BTC gained 0.65% to trade at $20,841 as of 07:00 ET. Its market dominance rose to 41% from 40.2%.
Since the last market report, Bitcoin has broken the $20,000 barrier and briefly tapped $21,000 amid a weekend pump that liquidated short sellers. Analysts have suggested that bullish sentiments are returning to the coin.
Ethereum
Ethereum grew 0.81% over the last 24 hours to trade at $1,544 as of 07:00 ET. Its market dominance rose to 19.3% from 19%.
The price performance of ETH mirrored BTC’s. The second-largest digital asset by market cap traded near its pre-FTX levels throughout the weekend. The impressive price performance also saw it turn deflationary.
Top 5 Gainers
FTX Token
FTT is the day’s biggest gainer, rising 61.03% to $2.69 as of press time. It was unclear why the token’s value was rising, considering there has been no new information regarding the exchange’s bankruptcy case. Its market cap stood at $886.34 million.
Frax Share
FXS gained 41.78% over the reporting period to trade at $9.53 as of press time. The DeFi-related token surged by over 62% in the last seven days. Its market cap stood at $677.37 million.
Convex Finance
CVX rose 26.65% to $4.89 as of press time. The staking platform token increased by 42% in the last 30 days. Its market cap stood at $357.48 million.
Everscale
EVER is up 24.43% over the reporting period to trade at $0.053 as of press time. It was unclear why the token was rising. Its market cap stood at $89.42 million.
Decentraland
MANA grew 23.66% in the last 24 hours to $0.69. The metaverse-related token has been on a tear in the last 30 days, rising by 114%. Its market cap stood at $1.3 billion.
Top 5 Losers
Neutrino USD
USDN is the day’s biggest loser, shedding 9.79% over the reporting period to trade at $0.36. The depegged stablecoin has been trending downwardย and has fallen 32% in the last 30 days. Its market cap stood at $244.88 million, as of press time.
Civic
CVC fell 6.51% in the last 24 hours to $0.103. The identity verification blockchain network’s value rose 27% over the previous seven days. Its market cap stood at $103.83 million.
Smooth Love Potion
SLP decreased 6.76% to $0.0028 as of press time. The Axie Infinity-linked token has seen renewed interest in the last 30 days, rising 33%. Its market cap stood at $122.64 million.
Threshold
T plunged 6.35% in the last 24 hours to $0.021 as of press time. The token started strongly in 2023, posting gains of over 25% in the last seven days. Its market cap stood at $179.54 million.
NuCypher
NU is down 6% over the reporting period to $0.15. The Ethereum-based token has increased by over 70% since the start of the year. Its market cap stood at $108.73 million.
Mentioned in this article
Bitcoin 
Ethereum 
NuCypher 
Threshold 
Smooth Love Potion 
FTX Token 
Civic 
Neutrino USD 
Decentraland 
Everscale 
Convex Finance 
Frax Share Posted In: Wrapped
Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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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
$3,318.23
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
NuCypher
$0.08807
NuCypher is a decentralized threshold cryptography platform that provides data privacy, access control, and other cryptographic services to decentralized applications and protocols.
Threshold
$0.02711
The Threshold network provides and maintains a suite of cryptographic primitives for several dApps.
Smooth Love Potion
$0.00340
Smooth Love Potion (SLP) tokens can be earned as rewards by Axie Infinity game players through battle or adventure mode.
FTX Token
$2.40024
FTX is a cryptocurrency derivatives exchange that offers futures, leveraged tokens and OTC trading.
Civic
$0.13920
Civic allows for on-demand, secure and lower cost access to identity verification via the blockchain..
Neutrino USD
$0.02298
Neutrino USD (USDN) is an algorithmic crypto-collateralized stablecoin pegged to the US dollar.
Decentraland
$0.43026
Decentraland is a decentralized virtual reality (VR) platform built on the Ethereum blockchain.
Everscale
$0.01798
Everscale is a layer-1 PoS blockchain network of the 5th generation.
Convex Finance
$2.68434
Convex Finance is a platform built to boost rewards for CRV stakers and liquidity providers alike, all in a simple and easy to use interface.
Frax Share
$2.42005
The Frax Protocol is the first fractional-algorithmic stablecoin system.