CryptoSlate Daily wMarket Update – Dec. 5: Red day for top 10 sees Dogecoin leading losses
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 outflows of $17.52 billion and currently stands at $851.46 billion — down 2% from $868.98 billion over the last 24 hours.
Since the weekend, Bitcoin’s market cap fell 2.5% to $326.62 billion from $332.08 billion. Meanwhile, Ethereum’s market cap fell 3% to $153.81 billion from $158.54 billion.
Over the last 24 hours, the top 10 cryptocurrencies all recorded losses. Dogecoin saw the most significant drawdown over the period, losing 5.7% of its value. Meanwhile, Bitcoin fared best, losing 1.8% over the reporting period.
Since the last report, the market caps of Tether (USDT) and BinanceUSD (BUSD) saw slight increases to $65.58 billion and $22.10 billion, respectively. In comparison, USD Coin (USDC) experienced a slight decrease to $43.22 billion, respectively.
Bitcoin lost 1.8% to trade at $16,989 as of 07:00 ET. Its market dominance remained flat at 38.3%.
Over the last 24 hours, Bitcoin sold off, finding support at $16,869. Since bottoming, the leading cryptocurrency has been ranging in a narrow band between $16,907 and $17,102.
ETH posted 3% losses over the last 24 hours to trade at $1,256 as of 07:00 ET. Its market dominance fell to 18.0% from 18.2% over the reporting period.
Ethereum’s price performance mirrored Bitcoin’s. Support was found at $1,247, leading into a tight trading range that saw a new local low of $1,242 around 06:00 (ET).
Top 5 Gainers
NMR is the day’s biggest gainer, growing by 39.7% over the last 24 hours to $16.7283 as of press time. The token continues its run, up 48% over the previous week. Its market cap stood at $98.5 million.
CTSI gained 32.5% over the reporting period to trade at $0.14974 as of press time. Its market cap stood at $97.22 million.
CEL is up 22.1% in the last 24 hours to trade at $0.64846. The bankruptcy court gave approval to the firm to begin work on its reorganization plan which has buoyed the token. Its market cap stood at $154.89 million.
UMA increased by 12.4% to $1.93809 over the last 24 hours. Its market cap stood at $133.63 mgensoillion.
MV grew by 10.8% to trade at $0.21634 at the time of press. Its market cap stood at $369.79 million.
Top 5 Losers
WEMIX is today’s biggest loser falling 13.1% to $0.67744 over the reporting period. The gaming platform is experiencing volatility; despite today’s loss, WEMIX remains up 59.5% over the week. Its market cap stood at $165.73 million.
MAGIC decreased 11.3% over the last 24 hours to $0.52789. The token gained 88% over the past week. Its market cap stood at $93.53 million.
GMX fell 7.6% to trade at $50.9742 as of press time. Its market cap stood at $407.32 million.
DAO lost 7.9% of its value to trade at $0.90053 as of press time. Its market cap stood at $82.92 million.
HFT fell 6.9% over the reporting period to $0.48120 at press time. The token continues to sell off, down 38.7% over the past month. Its market cap stood at $79.62 million.