CryptoSlate Daily wMarket Update: Polygon defies flat market, posting 8% gains CryptoSlate Daily wMarket Update: Polygon defies flat market, posting 8% gains
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: Jan. 27, 2023 at 12:52 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 $2.09 billion over the last 24 hours and currently stands at $1,044.31 billion — down 0.2% from $1,046.4 billion.
Over the reporting period, the Bitcoin market cap fell 0.2% to $442.43 billion from $443.07 billion. Similarly, Ethereum’s market cap dropped 1.6% to $193.42 billion from $196.32 billion.
The top 10 cryptocurrencies recorded a mixed performance over the last 24 hours. Polygon tops the list, posting 7.7% gains. By contrast, yesterday’s top gainer Solana brings up the rear, down 2.6%.
The market caps of Tether (USDT) and BinanceUSD (BUSD) grew to $67.34 billion and $15.76 billion, respectively. USD Coin (USDC) fell to $43,47 billion.
Bitcoin
Over the last 24 hours, Bitcoin fell 0.2% to trade at $22,960 as of 07:00 ET. Its market dominance grew slightly to 42.4% from 42.3%.
BTC reached a peak price of $23,242 over the past day. A gradual downtrend followed, resulting in a sharp sell-off that found support at $22,541. Bulls stepped in to take the price back above pre-sharp sell-off levels.
Ethereum
Ethereum lost 1.6% over the last 24 hours to trade at $1,578 as of 07:00 ET. Its market dominance fell to 18.5% from 18.8%.
ETH price action mirrored BTC, achieving a local top of $1,622 during the reporting period. The ensuing sharp sell-off bounced at $1,553, leading to a muted recovery.
Top 5 Gainers
Conflux Network
CFX is the day’s biggest gainer, increasing 66.7% over the reporting period to $0.06972 as of press time. China’s version of Instagram, Little Red Book, announced CFX integration. Its market cap stood at $145.77 billion.
Neutrino USD
USDN gained 33.9% to trade at $0.31703 as of press time. The stablecoin lost its $1 peg price around June 2022. Its market cap stood at $215.67 million.
Hooked Protocol
HOOK grew 23.2% in the last 24 hours to $3.49106. Upcoming developments include the Hooked Party Pass Season 2 NFT airdrop and token distribution airdrop. Its market cap stood at $174.55 million.
Theta Fuel
TFUEL gained 17.9% in the last 24 hours to $0.05719. The token is up 80% over the past month. Its market cap stood at $343.64 million.
Flux
FLUX rose 15.6% in the last 24 hours to $0.75635. The token grew over 138% over the past month. Its market cap stood at $218.01 million.
Top 5 Losers
Threshold
T is the day’s biggest loser, falling 14% to $0.04725 as of press time. Despite today’s dip, the token is still up 223% over the past month. Its market cap stood at $400.82 million.
Keep Network
KEEP declined 11.6% over the reporting period to $0.23071 as of press time. Despite the drawdown, the token is still up over 228% over the past month. Its market cap stood at $198.59 million.
ssv.network
SSV fell 11.2% over the reporting period to $16.7997 as of press time. Its market cap stood at $168 million.
Synapse
SYN lost 9.3% over the reporting period to $0.79446 as of press time. Its market cap stood at $111.05 million.
Audius
AUDIO fell 7% in the last 24 hours to $0.30069. The token was a top-five gainer yesterday. Its market cap stood at $281.44 million.
Mentioned in this article
Bitcoin 
Ethereum 
Conflux Network 
Neutrino USD 
Hooked Protocol 
FLUX 
Theta Fuel 
Threshold 
Keep Network 
ssv.network 
Synapse 
Audius 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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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,318.96
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Conflux Network
$0.15618
Conflux Network is an open protocol for a new world of DApps, finance, and Web 3.0.
Neutrino USD
$0.02914
Neutrino USD (USDN) is an algorithmic crypto-collateralized stablecoin pegged to the US dollar.
Hooked Protocol
$0.40043
Hooked Protocol is building the on-ramp layer for massive Web3 adoption, providing tailored Learn & Earn products and onboarding infrastructures for users & businesses to enter the new world of web3.
FLUX
FLUX is a unique global gaming platform that unites all parts of the gaming industry ecosystem where players, developers, traders, and the gaming community can transform their time and needs into money using special gaming FLUX COIN..
Theta Fuel
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Theta Fuel (TFUEL): The operational token of the Theta protocol.
Threshold
$0.02645
The Threshold network provides and maintains a suite of cryptographic primitives for several dApps.
Keep Network
$0.12767
Keep is building infrastructure for autonomous private data on public blockchains, DApps, and DAOs.
ssv.network
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ssv.network is a decentralized staking infrastructure that powers the distributed operation of Ethereum validators through a unique protocol known as Secret Shared Validators (SSV).
Synapse
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Synapse is a cross-chain layer ∞ protocol powering frictionless interoperability between blockchains.
Audius
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Audius connects fans directly with artists in a familiar music player interface.