CryptoSlate Daily wMarket Update – Dec. 6: Another red day sees Dogecoin leading top 10 losses again CryptoSlate Daily wMarket Update – Dec. 6: Another red day sees Dogecoin leading top 10 losses again
The wMarket Update condenses the most important price movements in the crypto markets over the reporting period, published 07:45 ET on weekdays.
2 min read
Updated: Dec. 7, 2022 at 12:41 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The cryptocurrency market cap saw net outflows of $11.99 billion and currently stands at $839.47 billion — down 1.4% from $851.46 billion over the last 24 hours.
Over the reporting period, Bitcoin’s market cap fell 1.1% to $323.06 billion from $326.62 billion. Meanwhile, Ethereum’s market cap fell 2.3% to $150.21 billion from $153.81 billion.
Over the last 24 hours, the top 10 cryptocurrencies all recorded losses. For the second consecutive day, Dogecoin saw the most significant drawdown, losing 4.3% of its value. Similarly, Bitcoin fared best two days in a row, losing 1% over the reporting period.
Since the last report, the market cap of Tether (USDT) has increased slightly to $65.69 billion. In comparison, the market caps of USD Coin (USDC) and BinanceUSD (BUSD) experienced marginal decreases to $43.01 billion and $22.06 billion, respectively.
Bitcoin
Bitcoin lost 1% to trade at $16,812 as of 07:00 ET. Its market dominance increased slightly to 38.5% from 38.3%.
A flat trading range turned into a “spiller” around 01:00 (ET). Support was found at $16,680, leading to a bounce that topped out at $16,836.
Ethereum
ETH posted 2.2% losses over the last 24 hours to trade at $1,228 as of 07:00 ET. Its market dominance fell slightly to 17.9% from 18.0% over the reporting period.
Ethereum’s price performance mirrored Bitcoin’s. Bears intervened at $1,218, leading into a tight trading range of between $1,222 and $1,230.
Top Gainers
MAGIC
MAGIC is the day’s biggest gainer, growing by 11.97% over the last 24 hours to $0.58969 as of press time. The token continues its bullish run, up 92% over the previous week. Its market cap stood at $104.48 million.
Frax Share
FXS gained 7.1% over the reporting period to trade at $5.61085 as of press time. Its market cap stood at $90.95 million.
Aragon
ANT increased by 6.5% to $2.26718 over the last 24 hours. Its market cap stood at $95.13 million.
Celsius
CEL is up 5.6% in the last 24 hours to trade at $0.68272. The bankruptcy court approved the company’s reorganization plans. Its market cap stood at $163.08 million.
Top Losers
WEMIX
WEMIX is today’s biggest loser falling 45.1% to $0.35240 over the reporting period. Parent company Wemade lost an injunction to prevent four Korean exchanges from delisting the token. The exchanges claim the project had issued fraudulent information, including on the circulating supply. Its market cap stood at $86.39 million.
Numeraire
NMR decreased 15.1% over the last 24 hours to $14.1865. The token was yesterday’s top gainer. Its market cap stood at $83.54 million.
Cartesi
CTSI fell gained 13% over the reporting period to trade at $0.11777 as of press time. Like Numeraire, Cartesi was a top 5 gainer yesterday. Its market cap stood at $76.48 million.
SushiSwap
SUSHI lost 12.8% to trade at $1.19089 as of press time. The SushiSwap CEO admitted their treasury is relatively low on funds. Its market cap stood at $151.53 million.
Mentioned in this article
Author 
Samuel Wan
Samuel Wan, a finance professional turned full-time crypto content creator, values individual autonomy and personal freedom in his pursuits.
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