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.
The cryptocurrency market cap saw net inflows of $40 billion over the weekend and currently stands at $1.13 trillion — up 1.08 % from $1.09 trillion.
During the reporting period, Bitcoin and Ethereum’s 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 Polkadot— 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.
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.
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%.
ETH’s price performance mirrored BTC — peaking above $1,700 during the weekend as bullish sentiments overtook the market.
Top 5 Gainers
CFX is the day’s 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.
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.
STX 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.
IOST 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.
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 is the day’s 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 dumped 13.54% to $0.0000449876 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.
BICO lost 10.65% to trade at $0.46410 at the time of writing. Its market cap stood at $223.19 million.
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.
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.