CryptoSlate Daily wMarket Update: Bitcoin loses momentum after failing to break $24,000 resistance CryptoSlate Daily wMarket Update: Bitcoin loses momentum after failing to break $24,000 resistance
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. 30, 2023 at 12:41 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The cryptocurrency market cap saw net outflows of around $19 billion over the last 24 hours and currently stands at $1,047.31 billion — down 1.81% from $1,066 billion
Over the reporting period, Bitcoin and Ethereum’s market cap fell by 1.29% and 1.55% to $445.8 billion and $193.8 billion, respectively.
All the top 10 cryptocurrencies posted losses over the last 24 hours. Polygon tops the list, decreasing by 5.2%. Followed by Polkadot and Dogecoin which lost 4.58% and 3.93%, respectively.
Since the last market update, the market cap of Tether (USDT) grew to $67.78 billion. On the other hand, the market caps of USD Coin (USDC) and BinanceUSD (BUSD) fell to $43.47 billion and $15.76 billion, respectively.
Bitcoin
Over the last 24 hours, Bitcoin fell 1.47% to trade at $23,097 as of 07:00 ET. Its market dominance grew slightly to 42.5% from 42.4%.
Over the weekend, Bitcoin traded near $24,000, touching a peak of $23,919 on Jan. 29 before retracing to its current levels. The flagship digital assets experienced some mild sell-off during the early trading hours of today.
BTC Price Performance (Source: Tradingview.com)
Ethereum
Ethereum lost 1.60% over the last 24 hours to trade at $1,583 as of 07:00 ET. Its market dominance fell to 18.4% from 18.5%.
ETH price action mirrored BTC, trading at a peak of $1,653 on Jan. 29 before experiencing a sharp sell-off that brought its value down.
Top 5 Gainers
Everscale
EVER is the day’s biggest gainer, increasing 89.45% over the reporting period to $0.11 as of press time. Bullish sentiments around the token is currently high as its DeFi TVL is up 31% in the last 24 hours, according to DeFiLlama data. Its market cap stood at $191.99 million.
DAO Maker
DAO rose 27.46% in the last 24 hours to $1.18 as of press time. The launchpad has begun its anniversary campaign and looks to reduce its token supply by repurchasing them. Its market cap stood at $170.83 million.
Mina
MINA gained 25.84% over the reporting period and was exchanging hands for $0.84 as of press time. The token has seen its OpenMina node browser concept enjoy more support from the community. Its market cap stood at $695.03 million.
Injective
INJ jumped 10.38% to $2.80 as of press time. The smart contract-enabled platform recently launched a $150 million fund to boost decentralized finance (DeFi) adoption. Its market cap stood at $204.45 million.
Syscoin
SYS is up 8.37% in the last 24 hours to $0.17 as of press time. The proof-of-work (PoW) token has risen 70% over the last 30 days. Its market cap stood at $128.91 million.
Top 5 Losers
Alethea Artificial Liquid Intelligence Token
ALI is the day’s biggest loser, declining by 11.39% over the reporting period to $0.035 as of press time. The AI token was one of the biggest gainers over the last 30 days, rising by nearly 300%. Its market cap stood at $128.58 million.
Hooked Protocol
HOOK fell 11.01% in the last 24 hours to $3.11. The token appears to have shed some of the gains it made over the last seven days when it rose by 14%. Its market cap stood at $155.78 million.
Conflux Network
CFX decreased 9.76% over the reporting period to $0.059 as of press time. The token experienced a huge sell-off in the last 24 hours after it recorded gains last week. Its market cap stood at $124.35 billion.
Magic
Magic lost 9.5% in the last 24 hours and was trading for $1.36 as of press time. The NFT-related token has recorded a minimal gain of 3% over the last seven days. Its market cap stood at $284.24 million.
iExec RLC
RLC continued its poor price performance, plunging 8.92% to $1.68 over the reporting period. Its market cap stood at $136.89 million.
Mentioned in this article
Ethereum 
Bitcoin 
Injective 
Syscoin 
Mina 
DAO Maker 
Everscale 
Conflux Network 
Alethea Liquid Intelligence 
Hooked Protocol 
iExec RLC 
Treasure 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
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Bitcoin
$63,574.57
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Injective
$27.9557
Injective is an open interoperable smart contracts platform optimized for decentralized finance applications.
Syscoin
$0.22702
Syscoin is a cryptocurrency that offers near zero cost financial transactions like Bitcoin and provides businesses the infrastructure to trade goods, assets, digital certificates and data securely.
Mina
$0.79325
Mina claims to be the world’s lightest blockchain, powered by participants.
DAO Maker
$1.03565
DAO Maker Token is the governance token of the DAO Maker Ecosystem built on Ethereum, allowing holders to govern the ecosystem.
Everscale
$0.04713
Everscale is a layer-1 PoS blockchain network of the 5th generation.
Conflux Network
$0.23140
Conflux Network is an open protocol for a new world of DApps, finance, and Web 3.0.
Alethea Liquid Intelligence
$0.02056
Alethea AI is building a decentralized protocol to create an Intelligent Metaverse inhabited by interactive and intelligent NFTs (iNFTs).
Hooked Protocol
$0.92586
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.
iExec RLC
$2.71991
iExec RLC aims at providing distributed applications running on the blockchain a scalable, secure and easy access to the services, the data-sets and the computing resources they need..
Treasure
$0.77995
Treasure is the decentralized video game console connecting games and communities together through bottom-up driven IP and infrastructure, unified through a common set of composable resources.
