CryptoSlate Daily wMarket Update – Nov. 24: Dogecoin leads large caps during flat 24 hours
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 $1.1 billion over the last 24 hours and currently stands at $832.1 billion, up 0.14% over the reporting period.
Bitcoin’s market cap fell 0.1% to $317.6 billion from $317.9 billion, and Ethereum’s decreased 0.1% to $146.1 billion from $146.3 billion.
The top 10 cryptocurrencies saw a mixed performance. Litecoin recorded the biggest loss over the period, down 1.9%. However, Dogecoin and XRP posted 9.2% and 7.4% gains, respectively.
Over the reporting period, USD Coin’s (USDC) market cap increased to $44 billion, while BinanceUSD’s (BUSD) decreased to $22.6 billion. Meanwhile, Tether’s (USDT) market cap remained flat at $65.3 billion.
In the last 24 hours, Bitcoin fell 0.2% to trade at $16,529 as of 07:00 ET. As a result, its market dominance fell slightly to 38.2% from 38.3% over the reporting period.
Since the last report, Bitcoin trended lower to bottom at $16,340 during the early hours of Friday (ET). However, bulls managed to raise the price to $16,590 just after 06:00.
ETH decreased by 0.2% over the last 24 hours to trade at $1,193 as of 07:00 ET. As a result, its market dominance fell slightly to 17.5% from 17.6% over the reporting period.
Price action for Ethereum mirrored Bitcoin. Support was found at $1,171 early Friday morning (ET). The ensuing bounce topped out at $1,199 just after 06:00.
Top 5 Gainers
REN is the day’s biggest gainer, growing 30.1% as of press time to trade at $0.10512. Having hit a local bottom of $0.0695 on Nov. 22, the token has been surging higher since. The reason for this is unknown at this time. Its market cap stood at $105.02 million.
TIME is up 22.2% over the reporting period to $169.711. The token is up 181% over the past 30 days. Its market cap stood at $120.51 million.
KAS increased by 15.5% over the last 24 hours to trade at $0.00838 as of press time. Kaspa devs held a recent AMA with the MEXC exchange. Its market cap stood at $122.61 million.
FTT increased by 11.5% to $1.44004 over the reporting period. It is unknown why the token spiked higher. Its market cap stood at $473.62 million.
DOGE gained 9.2% in the last 24 hours to trade at $0.08842 as of press time. The reason is unclear, however, the Twitter-Dogecoin narrative is being pushed on socials once again. Its market cap stood at $11.73 billion.
Top 5 Losers
WEMIX is the day’s biggest loser sinking 25% over the last 24 hours to $0.37206 as of press time. Several Korean exchanges announced delisting the token over concerns including fraudulent circulating supply. The token value has plummeted 75.6% over the past week. Its market cap stood at $90.89 million.
XNO sank 20.3% over the reporting period to trade at $0.82242. Nano was yesterday’s top gainer, up 67.1%. Despite today’s drawdown, the token remains 37% up over the past week, Its market cap stood at $109.59 million.
ORBS decreased 18.6% to $0.02647 over the last 24 hours. Like Nano, Orbs was also a top-five gainer yesterday. Its market cap stood at $76.15 million.
BTCST fell 11.2% over the last 24 hours to $6.06738 as of press time. The performance of the Bitcoin mining liquidity protocol is likely reflecting wider pressures across the BTC mining industry. Its market cap stood at $74.03 million.
VGX decreased by 10.4% over the last 24 hours to $0.42247 as of press time. Binance has signaled interest in acquiring the bankrupt trading platform, it is unclear why the token fell today. Its market cap stood at $117.65 million.