CryptoSlate Daily wMarket Update: Polygon shows strength amid wider market downturn CryptoSlate Daily wMarket Update: Polygon shows strength amid wider market downturn
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. 9, 2023 at 2:08 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 $22.7 billion over the last 24 hours and currently stands at $1.06 trillion — down 2% from $1.08 trillion.
Over the reporting period, Bitcoin and Ethereum’s market cap fell 1.9% and 2.3% to $437.66 billion and $199.88 billion, respectively.
The top 10 crypto assets recorded losses over the last 24 hours except for Polygon, which gained 3% to lead the top 10 for the third consecutive day. Shiba Inu brings up the rear, posting a 6.2% loss.
The market cap of Tether (USDT) stayed flat at $68.19 billion. USD Coin (USDC) saw a slight increase to $41.56 billion, while BinanceUSD (BUSD) decreased to $16.18 billion.
Bitcoin
Over the last 24 hours, Bitcoin lost 1.9% to trade at $22,732 as of 07:00 ET. Its market dominance stayed flat at 41.2%.
During the reporting period, the leading cryptocurrency trended down from a top of $23,200, leading to a sharp spill that found support at $22,352. A muted recovery followed.
Ethereum
Over the last 24 hours, Ethereum fell 2.3% to trade at $1,636 as of 07:00 ET. Its market dominance fell to 18.8% from 18.9%.
ETH’s price action largely followed BTC’s, finding support at $1,609 before retesting this approximate level a further two times. The second-largest cryptocurrency edged tentatively higher.
Top 5 Gainers
Gifto
GFT is the day’s biggest gainer, rising 62.4% over the reporting period to $0.16788 as of press time. The project was recently rebranded. Its market cap stood at $167.76 million.
Astar
ASTR grew 36.7% to $0.08536 as of press time. The token will be listed on the Upbit exchange on Feb. 9. Its market cap stood at $347.16 million.
BinaryX
BNX gained 19.2% over the reporting period to trade at $127.241 as of press time. A DAO proposal was accepted to implement a 1:100 token split. Its market cap stood at $127.241 million.
ssv.network
SSV jumped 16.6% to $32.8622 as of press time. The project announced a cooperation agreement with Lido Finance and the launch of a $50 million development fund. Its market cap stood at $328.62 million.
Bitget Token
BGB rose 15.9% to $0.27410 as of press time. The token is up 56% over the past month. Its market cap stood at $383.74 million.
Top 5 Losers
RenderToken
RNDR is the day’s biggest loser, posting a 17.4% loss to $1.64183 as of press time. Despite today’s drawdown, the token is still up 267% over the past month. Its market cap stood at $416.7 million.
Hooked Protocol
HOOK decreased 15.9% to $3.09581 as of press time. Its market cap stood at $154.79 million.
Alethea Artificial Liquid Intelligence
ALI dropped 15% over the reporting period to $0.06731 as of press time. Its market cap stood at $241.52 million.
SingularityNET
AGIX is down 14.9% to $0.43519 as of press time. The token has been riding high lately due to surging interest in AI. Today’s sell-off suggests profit-taking. Its market cap stood at $521.84 million.
Siacoin
FTT fell 13.8% in the last 24 hours to $0.00451. Its market cap stood at $240.54 million.
Mentioned in this article
Bitcoin 
Ethereum 
Gifto 
Astar 
BinaryX (old) 
ssv.network 
Bitget Token 
Render 
Hooked Protocol 
SingularityNET 
Alethea Liquid Intelligence 
Siacoin Posted In: Wrapped
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
$3,416.94
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Gifto
$0.01734
Gifto is a Web3 blockchain solution launched in 2017 to create, store, and gift blockchain presents to friends and loved ones such as NFTs in the form of e-cards, PFPs, generative art or red envelopes..
Astar
$0.07547
Astar Network is a dApp hub on Polkadot that supports Ethereum, WebAssembly, and layer 2 solutions like ZK Rollups.
ssv.network
$21.6455
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).
Bitget Token
$1.53803
BGB (Bitget Token) is the native utility token of Bitget.
Render
$7.91795
Rendertoken is a decentralized economy of 3D assets utilizing the global network of GPU devices through its cloud rendering technology.
Hooked Protocol
$0.45364
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.
SingularityNET
$0.60453
SingularityNET is a decentralized marketplace for AI services.
Alethea Liquid Intelligence
$0.01294
Alethea AI is building a decentralized protocol to create an Intelligent Metaverse inhabited by interactive and intelligent NFTs (iNFTs).
Siacoin
$0.00645
Sia is a decentralized data storage platform that revolutionizes cloud storage by creating a trustless marketplace for direct transactions between buyers and sellers.