CryptoSlate Daily wMarket Update: Bitcoin dominance spikes to 40-week high CryptoSlate Daily wMarket Update: Bitcoin dominance spikes to 40-week high
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: Mar. 20, 2023 at 11:38 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The cryptocurrency market cap saw net inflows of $36.12 billion since the last wMarket report and currently stands at $1.18 trillion – up 3.2% from $1.14 trillion.
Since Friday, the market caps of Bitcoin and Ethereum increased by 5.6% and 2.2% to $544.2 billion and $218.3 billion, respectively.
The top 10 cryptocurrencies recorded a mixed performance over the last 24 hours. Solana leads the pack, up 7.4%, followed by Bitcoin, which posted 4% gains. In contrast, Polygon was the worst performing, down 2.9% over the period.
In the last 24 hours, the market cap of Tether (USDT) increased to $76.38 billion. Meanwhile, USD Coin (USDC) and Binance USD (BUSD) fell to $36.15 billion and $8.2 billion, respectively.
Bitcoin
In the last 24 hours, Bitcoin increased 7% to trade at $28,183 as of 07:00 ET. Its market dominance jumped to 46.3% from 45.3% – a 40-week high.
Since last Friday, Bitcoin rose to $27,847 before edging downwards. By midday Sunday (ET,) buyers spiked the price to $28,485, leading into a sharp dip that found support at $27,226. A strong recovery saw the price return above the previous local top at $28,605.
Ethereum
Over the last 24 hours, Ethereum grew 0.2% to trade at $1,780 as of 07:00 ET. Its market dominance fell to 18.5% from 18.7%.
Since Friday, Ethereum peaked at $1,846 on Saturday morning (ET). Its price printed a cup pattern that retested $1,846 resistance, only to be rejected. The ensuing sell-off found support at $1,745.
Top 5 Gainers
Ren
REN is the day’s biggest gainer, rising 44.5% over the reporting period to $0.13934 as of press time. Its market cap stood at $139.2 million.
OMG Network
OMG gained 32.9% to $2.09731 as of press time. Coinbase announced delisting the token with effect from March 29. Its market cap stood at $294.14 million.
Kaspa
KAS is among the day’s top gainers after increasing 18.5% to $0.01663 at the time of writing. Trading on the Gate.io exchange goes live on March 21. Its market cap stood at $1.45 billion.
Conflux Network
CFX surged 17.5% to $0.45387 as of press time. The token has grown 170.4% over the past month. Its market cap stood at $1.21 billion.
Nervos Network
CKB is up 13.6% to $0.00498 as of press time. The project starts its “Building Connections Through Gaming” event on March 20. Its market cap stood at $199.7 million.
Top 5 Losers
Helium
HNT is the day’s biggest loser, falling 13.3% to trade at $1.36818 at the time of writing. The project announced migrating to the Solana chain, with the date now set for April 18. Its market cap stood at $192.37 million.
FTX Token
FTT plunged 10.8% to $1.38134 over the reporting period. The token experienced a rally last week, gaining 25.9% over the previous seven days. Its market cap stood at $454.32 million.
API3
API3 is down 9.6% to $1.83349. Despite today’s losses, the token is still up 34.1% over the past week. Its market cap stood at $147.02 million.
WEMIX
WEMIX decreased 7.6% to $1.49397 over the reporting period. Its market cap stood at $366.02 million.
Liquity
LQTY fell 6.3% to $2.29883. The token remains up 145.8% over the past 30 days. Its market cap stood at $210.18 million.
Mentioned in this article
Bitcoin 
Ethereum 
OMG Network 
Kaspa 
Conflux Network 
Nervos Network 
Ren 
Helium 
FTX Token 
WEMIX 
API3 
Liquity 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
$3,474.09
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
OMG Network
$0.36734
OMG Network (first developed as OmiseGO) is a non-custodial, Layer 2 scaling solution for transferring value on Ethereum.
Kaspa
$0.12037
Kaspa is a proof-of-work cryptocurrency which implements the GHOSTDAG protocol.
Conflux Network
$0.16610
Conflux Network is an open protocol for a new world of DApps, finance, and Web 3.0.
Nervos Network
$0.01260
The Nervos Network describes itself as an open-source public blockchain ecosystem and collection of protocols.
Helium
$7.44989
Helium (HNT) is a blockchain-based cryptocurrency that powers the Helium Network, a decentralized wireless infrastructure designed to support Internet of Things (IoT) devices.
FTX Token
$3.15840
FTX is a cryptocurrency derivatives exchange that offers futures, leveraged tokens and OTC trading.
WEMIX
$0.85651
Wemix is a blockchain based Global Gaming Platform developed by Wemade Tree that issubsidiary company of WEMADE as its flagship blockchain gaming services arm.
API3
$1.82313
API3 is the native token of the API3 project, that grants its holders full governance rights in the API3 DAO and acts as collateral in the data feed insurance pool.
Liquity
$2.34469
Liquity is a decentralized borrowing protocol built on Ethereum that utilizes LQTY, a USD-pegged stablecoin.
