CryptoSlate Daily wMarket Update: Polygon leads top 10 second day running CryptoSlate Daily wMarket Update: Polygon leads top 10 second day running
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: Feb. 8, 2023 at 12:38 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The cryptocurrency market cap saw net inflows of $12.4 billion over the last 24 hours and currently stands at $1.08 trillion — up 1.2% from $1.07 trillion.
Over the reporting period, Bitcoin and Ethereum’s market cap grew 0.8% and 1.9% to $446.85 billion and $204.82 billion, respectively.
The top 10 crypto assets all recorded gains over the last 24 hours. Polygon has continued its surge, growing a further 4.6% over the last 24 hours. Meme coins Dogecoin and Shiba Inu brought up the rear, both gaining 0.7%.
The market caps of Tether (USDT) and BinanceUSD (BUSD) stayed flat at $68.19 billion and $16.19 billion, respectively. Meanwhile, USD Coin’s (USDC) market cap decreased to $41.55 billion.
Bitcoin
Over the last 24 hours, Bitcoin grew 0.8% to trade at $23,176 as of 07:00 ET. Its market dominance dropped to 41.2% from 41.4%.
During the reporting period, a bottoming at $22,770 was followed by a sharp rise that peaked at $23,455. BTC has since been trading flat with a sell-side bias.
Ethereum
Over the last 24 hours, Ethereum rose 1.9% to trade at $1,674 as of 07:00 ET. Its market dominance rose to 18.9% from 18.8%.
ETH’s price action largely followed BTC’s, finding support at $1,626 before trending higher to top out at $1,698. The second-largest cryptocurrency then followed a flat trading pattern.
Top 5 Gainers
OriginTrail
TRAC is the day’s biggest gainer, rising 63% over the reporting period to $0.43147 as of press time. The token is benefiting from interest in AI projects. Its market cap stood at $157.69 million.
Chromia
CHR grew 30.1% to $0.22626 as of press time. The project recently announced the Chromia Innovation Lab 2023 – an incubation program. Its market cap stood at $155.34 million.
Axelar
AXL gained 28.1% over the reporting period to trade at $0.90764 as of press time. The project announced partnering with Chainflip and Squid over chain integrations. Its market cap stood at $140.99 million.
The Sandbox
SAND jumped 22.9% to $0.88955 as of press time. The project signed an MoU with the Saudi Arabia Digital Government Authority. Its market cap stood at $1.33 billion.
Oasis Network
ROSE rose 19.9% to $0.07057 as of press time. The team will attend Ethereum Denver to discuss Web3 privacy. Its market cap stood at $404.08 million.
Top 5 Losers
FLOKI
FLOKI is the day’s biggest loser, posting 7.2% losses to $0.00003 as of press time. The project announced entering the Chinese market, despite crypto restrictions in the country. Its market cap stood at $279.42 million.
SingularityNet
AGIX decreased 6.7% to $1.33826 as of press time. Despite today’s losses, the token is still up 646% over the past 30 days. Its market cap stood at $610.4 million.
Fetch
FET is down 5.5% to $0.50907 as of press time. Its market cap stood at $416.89 million.
Frax Share
FXS dropped 4.9% over the reporting period to $1.13165 as of press time. Despite the drawdown, the token is still up 123% over the past month. Its market cap stood at $905.91 million.
GMX
MAGIC fell 4.7% in the last 24 hours to $68.9273. Its market cap stood at $582.72 million.
Mentioned in this article
Bitcoin 
Ethereum 
OriginTrail 
Chromia 
Axelar 
Oasis Network 
The Sandbox 
FLOKI 
Frax Share 
SingularityNET 
Artificial Superintelligence Alliance 
GMX 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
$3,353.67
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
OriginTrail
$0.86197
OriginTrail is an Ethereum-based ecosystem for supply chain use cases, founded in 2011.
Oasis Network
$0.09712
The Oasis Network is a privacy-enabled blockchain platform for open finance and a responsible data economy.
The Sandbox
$0.39996
The Sandbox is a virtual world where players can build, own, and monetize their gaming experiences on the Ethereum blockchain using the platform’s utility token SAND.
FLOKI
$0.00026
Floki (FLOKI) is the people’s cryptocurrency and the utility token of the Floki Ecosystem.
Frax Share
$2.58181
The Frax Protocol is the first fractional-algorithmic stablecoin system.
SingularityNET
$0.57035
SingularityNET is a decentralized marketplace for AI services.
Artificial Superintelligence Alliance
$1.33034
Fetch.AI, founded in 2017 and launched on Binance in March 2019, is an innovative platform combining artificial intelligence with blockchain technology.
GMX
$30.8767
GMX is a decentralized spot and perpetual exchange that supports low swap fees and zero price impact trades.