CryptoSlate Daily wMarket Update: Litecoin shines as wider crypto market stutters CryptoSlate Daily wMarket Update: Litecoin shines as wider crypto market stutters
The wMarket Update condenses the most important price movements in the crypto markets over the reporting period, published 07:45 ET on weekdays.
3 min read
Updated: Mar. 23, 2023 at 11:43 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The cryptocurrency market cap saw net outflows of $16.95 billion over the last 24 hours and currently stands at $1.16 trillion – down 1.4% from $1.18 trillion.
During the reporting period, the market caps of Bitcoin and Ethereum decreased by 1.9% and 1.9% to $534.7 billion and $214.8 billion, respectively.
The top 10 cryptocurrencies recorded mixed results over the last 24 hours. Leading the losses was Solana, down 3.6% over the period. In contrast, Litecoin jumped 13.2%, while Dogecoin gained 3.5%.
In the last 24 hours, the market cap of Tether (USDT) increased to $77.65 billion. Meanwhile, USD Coin (USDC) fell to $34.7 billion, and Binance USD (BUSD) held flat at $8.06 billion.
Bitcoin
In the last 24 hours, Bitcoin decreased by 1.9% to trade at $27,677 as of 07:00 ET. Its market dominance fell to 46.1% from 46.3%.
During the reporting period — in the run-up to the FOMC announcement — Bitcoin peaked at $28,867. Following news of a 25 basis point hike, BTC sold off, finding support at $26,615. A muted recovery turned into a flat-ranging pattern, oscillating between $27,658 and $27,747.
Ethereum
Over the last 24 hours, Ethereum fell 1.9% to trade at $1,757 as of 07:00 ET. Its market dominance fell to 18.5% from 18.6%.
During the reporting period, Ethereum mirrored BTC’s moves, topping out at $1,820 before moving down sharply to form a local bottom at $1,710. The ensuing gradual uptrend turned into a tight trading range between $1,745 and $1,759.
Top 5 Gainers
HEX
HEX is the day’s biggest gainer, rising 23.8% over the reporting period to $0.12586 as of press time. The V3 testnet of its sister chain, PulseChain, went live recently. Its market cap stood at $21.83 billion.
Litecoin
LTC gained 12.8% to $91.0035 as of press time. The Litecoin halving is expected to occur around August. Payment provider Mastercard announced partnering with the project at the end of January. Its market cap stood at $6.6 billion.
Celer Network
CELR surged 9.1% to $0.02624 as of press time. CELR was a top-five gainer yesterday; the project recently announced its Brevis platform based on zero-knowledge data attestation. Its market cap stood at $185.94 million.
Nervos Network
CKB is up 6.5% to $0.00601 as of press time. The project launched Version 2.0 of its CKBull wallet recently. Its market cap stood at $241.02 million.
Mask Network
MASK is among the day’s top gainers after increasing 6.4% to $5.38611 at the time of writing. The token is up 42.2% over the past month. Its market cap stood at $410.15 million.
Top 5 Losers
Alethea Liquid Intelligence
ALI is the day’s biggest loser, falling 9.9% to trade at $0.03672 at the time of writing. The token is down 36.9% over the past month. Its market cap stood at $131.75 million.
Huobi Token
HT is down 9.3% to $3.65310. The SEC has charged the exchange’s “Leader,” Justin Sun, for purchasing and selling securities. Its market cap stood at $592.66 million.
Helium
HNT fell 7.7% to $1.18581 at the time of press. The Binance delisting took effect on March 23. Its market cap stood at $167.02 million.
TRON
TRX decreased 7.6% to $0.06215 over the reporting period. The SEC enforcement action against founder Justin Sun specifically mentioned TRX and BTT as the unregistered securities being traded and promoted. Its market cap stood at $5.66 billion.
Algorand
ALGO plunged 6.8% to $0.21939 over the reporting period. The project released its revised SDK. However, hackers exploited a wallet weakness recently. Its market cap stood at $1.56 billion.
Mentioned in this article
Bitcoin 
Ethereum 
HEX 
Litecoin 
Celer Network 
Mask Network 
Nervos Network 
Alethea Liquid Intelligence 
HTX Token 
Algorand 
TRON 
Helium 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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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,175.34
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
HEX
$0.00276
HEX is a cryptocurrency launched in late 2019 by the founder going by the name “Richard Heart” and “RadicalHeart.” It is an ERC20 token built on the Ethereum blockchain, with a maximum supply of 633,642,618,630 HEX tokens.
Litecoin
$89.3151
Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world.
Mask Network
$2.96492
Mask Network is a decentralized portal that allows users to seamlessly send encrypted messages, use dapps like crypto payment, decentralized finance, decentralized storage, e-commerce (digital goods / NFTs), decentralized organizations (DAO) over the top of existing social networks without migrating, and thereby creates a decentralized Applet (DApplet) ecosystem..
Nervos Network
$0.01356
The Nervos Network describes itself as an open-source public blockchain ecosystem and collection of protocols.
Alethea Liquid Intelligence
$0.00964
Alethea AI is building a decentralized protocol to create an Intelligent Metaverse inhabited by interactive and intelligent NFTs (iNFTs).
HTX Token
$0.62274
HTX Token(formerly HT or Huobi Token) is a decentralized digital asset based on Ethereum, with a limited total supply of 500 M, issued by Huobi Group.
Algorand
$0.21896
Algorand removes the technical barriers that for years undermined mainstream blockchain adoption: decentralization, scale, and security.
Helium
$5.78496
Helium (HNT) is a blockchain-based cryptocurrency that powers the Helium Network, a decentralized wireless infrastructure designed to support Internet of Things (IoT) devices.