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