CryptoSlate Daily wMarket Update – Nov. 22: Litecoin storms into top 10 displacing TRON
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 $47.8 billion over the last 24 hours and currently stands at $829.3 billion, up 6.1% over the reporting period.
Bitcoin’s market cap grew 5.4% to $318.7 billion from $302.5 billion, and Ethereum’s increased 8.2% to $143.4 billion from $132.6 billion.
All of the top 10 cryptocurrencies posted gains over the reporting period. Litecoin re-entered the chart with a 27% increase in value, passing Shiba Inu and ousting TRON from the list. Meanwhile, XRP brings up the rear with 4.4% gains.
Over the reporting period, the market caps of Tether (USDT), USD Coin (USDC), and BinanceUSD (BUSD) remained flat at $65.4 billion, $44 billion, and $22.8 billion, respectively.
In the last 24 hours, Bitcoin grew 5.5% to trade at $16,593 as of 07:00 ET. Its market dominance fell slightly to 38.4% from 38.7% over the reporting period.
The leading cryptocurrency edged upward over the past day. A decisive move higher at 21:00 (ET) on Tuesday saw a continuation of buying pressure that peaked at $16,670 around 06:00 today. The bullish price action brings welcome relief to the events of recent weeks, but some analysts ring caution to this being a dead cat bounce.
ETH increased by 8.2% over the last 24 hours to trade at $1,174 as of 07:00 ET. Its market dominance grew to 17.3% from 17.0% over the reporting period.
Price action for Ethereum mirrored Bitcoin down to the price spike at 21:00 (ET) on Tuesday. Bulls topped out at $1,184 just before 06:00 (ET) today.
Top 5 Gainers
TIME is the day’s biggest gainer, growing 77.8% as of press time to trade at $136.605. It is unclear why the employment protocol spiked. However, recent price performance has been strong, with the token gaining 155% over the past week. Its market cap stood at $97.01 million.
Curve DAO Token
CRV is up 44.9% over the reporting period to $0.62563. Its market cap stood at $332.58 million.
TEL increased by 42.8% over the last 24 hours to $0.00239 as of press time. The token is up 95.3% over the past 30 days. Its market cap stood at $153.35 million.
LTC increased by 27.4% to $78.9072 over the reporting period. This is due to the market seeking stability amid contagion fears. Its market cap stood at $5.65 billion.
CVX gained 21.6% in the last 24 hours to trade at $4.30641 as of press time. Its market cap stood at $304.09 million.
Top 5 Losers
HI is the day’s biggest loser sinking 4.4% over the last 24 hours to $0.03838 as of press time. The token is down 19.5% over the past 30 days. Its market cap stood at $111.26 million.
BTRST decreased by 2.4% over the last 24 hours to $0.78870 as of press time. The decentralized talent protocol continues selling off, down 54.9% over the past month. Its market cap stood at $100.55 million.
BNX recorded a 1.1% loss over the reporting period to trade at $158.881 as of press time. Its market cap stood at $443.09 million.
PAXG fell by 0.4% to $1,735.15 over the reporting period. The token is pegged to the price of gold. Its market cap stood at $564.29 million.
USDP is down 0.2% to $1.00113 at the time of press. The dollar-pegged stablecoin has experienced price instability since Nov. 10. Its market cap stood at $946.71 million.