CryptoSlate Daily wMarket Update: Bitcoin trades under 22k as market awaits CPI numbers

The cryptocurrency market cap saw net inflows of $12 billion in the last 24 hours and currently stands at $1.01 trillion — up 0.89% from $998.09 billion.

During the reporting period, Bitcoin and Ethereum’s market cap rose 0.98% and 1.52% to $421.18 billion and $185.72 billion, respectively.

The top 10 crypto assets recorded gains over the last 24 hours, except Binance’s BNB and Shiba Inu, which lost 0.15% and 0.77%, respectively. Solana and Cardano recorded the highest gain of 4.08% and 2.4%, respectively.

The market caps of Tether (USDT)and Binance USD (BUSD) decreased to $68.47 billion and $15.68 billion, respectively. By contrast, USD Coin’s (USDC) market cap increased to $41.03 billion.

Bitcoin

In the last 24 hours, Bitcoin gained 0.74% to trade at $21,810 as of 07:00 ET. Its market dominance remained flat at 41.8%.

After dropping to its lowest value of $21,400 for the first time in three weeks, BTC peaked at $21,489 as the market anticipates the US Consumer Price Index (CPI) numbers for January.

Ethereum

Over the last 24 hours, Ethereum rose 1.31% to trade at $1,507 as of 07:00 ET. Its market dominance rose to 18.3% from 18.2%.

ETH’s price action mirrored BTC’s — mostly trading sideways — and peaked at $1,514 over the reporting period.

Top 5 Gainers

Hashflow

HFT is the day’s biggest gainer, rising 34.06% over the reporting period to $0.67 as of press time. Binance recently made the project a borrowable asset while the developers made progress on improving its scalability. Its market cap stood at $125.3 million.

Bitget Token

BGB rose 23.17% to $0.407 in the last 24 hours. The crypto exchange announced a partnership with the fintech company Capitual to participate in Brazil’s Central Bank Digital Currency (CBDC) project. Its market cap stood at $570.61 million.

TerraUSD

USTC increased 14.91% to $0.031 as of press time. The failed algorithmic stablecoin has rallied following news of a planned protocol upgrade scheduled for Feb. 14. Its market cap stood at $305.18 million.

GMX

GMX gained 13.82% to trade at $70.89 as of press time. The decentralized exchange reportedly generated over $5 million in revenue on Feb. 11, according to DeFillama data. Its market cap stood at $600.18 million.

Fetch

FET jumped 11.82% to $0.43 as of press time. The artificial intelligence (AI)-related token has profited from the growing interest in AI technology, rising by over 80% in the last 30 days. Its market cap stood at $356.64 million.

Top 5 Losers

DAO Maker

DAO is the day’s biggest loser, falling 9.59% to $1.26 as of press time. The token appears to have shed some of the gains it made on Feb. 13, when it rose by over 16%. Its market stood at $180.66 million.

GensoKishi Metaverse

MV declined 8.67% in the last 24 hours to $0.18 as of press time. The NFT-related token has fallen by around 10% in the previous seven days. Its market cap stood at $317.66 million.

SKALE Network

SKL plunged 6.84% to $0.049 as of press time. The smart contract-enabled platform experienced a selloff despite announcing new integrations with NFT bridge XP Network. Its market cap stood at $205.67 million.

Horizen

ZEN lost 5.95% and was trading for $11.99 as of press time. The privacy token rose by 11% in the last 30 days. Its market cap stood at $160.35 million.

Celer Network

CELR shed 3.75% over the reporting period to $0.019. The Polkadot-based token recently revealed that its Inter-chain Messaging (IM) framework currently serves different purposes across 15 decentralized applications. Its market cap stood at $139.53 million.

Mentioned in this article

Bitcoin Ethereum Celer Network Hashflow TerraClassicUSD SKALE Network Horizen GensoKishi Metaverse GMX Bitget Token Artificial Superintelligence Alliance DAO Maker TradingView

Author

Oluwapelumi Adejumo

Journalist at CryptoSlate

Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.

@hardeyjumoh LinkedIn Email Oluwapelumi

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