CryptoSlate Daily wMarket Update: Bitcoin nears $25,000 with renewed bullish sentiments CryptoSlate Daily wMarket Update: Bitcoin nears $25,000 with renewed bullish sentiments
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: Aug. 4, 2023 at 3:22 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 $40 billion over the weekend and currently stands at $1.13 trillion โ up 1.08 % from $1.09 trillion.
During the reporting period, Bitcoin and Ethereumโs market cap rose 0.88% and 1.05% to $480.35 billion and $209.83 billion, respectively.
All top 10 crypto assets recorded gains over the last 24 hours, except Polygon, Dogecoin, and Polkadotโ which shed 0.65%,0.24%, and 1.32%, respectively. Solana rose the highest with an 11.92% gain.
In the last 24 hours, the market caps of Tether (USDT) and USD Coin (USDC) increased to $70.41 billion and $41.96 billion, respectively. Meanwhile, Binance USD (BUSD) market cap fell to $13.02 billion.
Bitcoin
In the last 24 hours, Bitcoin increased 0.93% to trade at $24,910 as of 07:00 ET. Its market dominance fell to 42.4% from 42.2%.
During the reporting period, BTC rallied above $25,000 before retracing to around $23,000. The flagship digital asset was beginning to trade close to $25,000 again as of press time.
Ethereum
Over the last 24 hours, Ethereum gained 1.09% to trade at $1,716 as of 07:00 ET. Its market dominance fell to 18.5% from 18.7%.
ETHโs price performance mirrored BTC โ peaking above $1,700 during the weekend as bullish sentiments overtook the market.
Top 5 Gainers
Conflux Network
CFX ย is the dayโs biggest gainer, rising 73.75% over the reporting period to $0.29468 as of press time. The blockchain network has made giant strides recently, scoring partnerships with several top Chinese firms and improving its tokenomics. Its market cap stood at $616.11 billion.
Alchemy Pay
ACH gained 67.76% in the last 24 hours to trade at $0.04339. The Singapore-based crypto payment gateway announced on Feb. 20 that users can now purchase digital assets via Google Pay. Its market cap stood at $220.53 million.
Stacks
STX ย jumped 48.62% to $0.59415 as of press time. The BTC smart contract layer network is enjoying renewed attention with the growth of Ordinals NFT on the flagship digital network. Its market cap stood at $808.6 million.
IOStoken
IOST ย gained 32.92% in the last 24 hours to trade at $0.01489. The IOST mainnet transactions broke the 700 million mark on Feb. 15. Its market cap stood at $278.51 million.
Nervos Network
CKB is up 27.61% to trade at $0.00574 as of press time. The proof-of-work token has risen by 78% over the last 30 days. Its market cap stood at $228.2 million.
Top 5 Losers
Cocos-BCX
COCOS is the dayโs biggest loser, falling 20.5% to $2.32447 as of press time. The Ethereum-based token rose by 235% over the last seven days. Its market cap stood at $165.16 million.
Floki Inu
FLOKI dumped 13.54% to $0.0000449876ย in the last 24 hours. The Elon Musk-fuelled rally appears to be washing off after rising by 111% over the past week. Its market cap stood at $401.07 million.
Biconomy
BICO lostย 10.65% to trade at $0.46410 at the time of writing. Its market cap stood at $223.19 million.
Internet Computer
ICP shed 8.91% to $7.24636 as of press time. The project has enjoyed more growth recently as its developers have introduced new features to the blockchain network. Its market cap stood at $2.1 billion.
Alethea Artificial Liquid Intelligence Token
ALI is down 7.42% to $0.05887 at the time of writing. The AI token rose 66% over the last 30 days. Its market cap stood at $211.24 million.
Mentioned in this article
Bitcoin 
Ethereum 
Conflux Network 
Stacks 
IOStoken 
Alchemy Pay 
Internet Computer 
FLOKI 
BICONOMY 
Cocos-BCX 
Nervos Network 
Alethea Liquid Intelligence 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
$3,130.21
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Conflux Network
$0.24043
Conflux Network is an open protocol for a new world of DApps, finance, and Web 3.0.
Stacks
$2.64227
Stacks (formerly Blockstack) connects to Bitcoin, enabling you to build apps, smart contracts, and digital assets that are integrated with Bitcoin’s security, capital, and network.
IOStoken
$0.00957
The IOS (Internet of Services) offers a solid infrastructure for all kinds of online service providers.
Alchemy Pay
$0.03444
Alchemy is the pioneer of Hybrid Crypto-Fiat Gateway that is bridging the gap between the fiat and crypto economies – driving crypto adoption by making payments, blockchain solutions and DeFI services readily available to everyone.
Internet Computer
$13.4320
The Internet Computer is a seamless shared universe for reimagined software thatโs secure and unstoppable, that can power a new generation of enterprise systems and internet services.
FLOKI
$0.00018
Floki (FLOKI) is the people’s cryptocurrency and the utility token of the Floki Ecosystem.
BICONOMY
$0.48659
Biconomy is a multichain relayer protocol that aims to improve the user onboarding and transaction experience on decentralized applications (DApps).
Nervos Network
$0.01751
The Nervos Network describes itself as an open-source public blockchain ecosystem and collection of protocols.
Alethea Liquid Intelligence
$0.02003
Alethea AI is building a decentralized protocol to create an Intelligent Metaverse inhabited by interactive and intelligent NFTs (iNFTs).
