CryptoSlate Daily wMarket Update: US DoJ crypto enforcement announcement sends Bitcoin below $21,000 CryptoSlate Daily wMarket Update: US DoJ crypto enforcement announcement sends Bitcoin below $21,000
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. 19, 2023 at 12:50 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 $26.3 billion in the last 24 hours and currently stands at $965.18 billion — down 2.64% from $991.48 billion.
Over the reporting period, Bitcoin and Ethereum’s market cap decreased by 2.21% and 3.55% to $400.19 billion and $186.29 billion, respectively.
All top 10 cryptocurrencies recorded losses over the reporting period. The top losers included Shiba Inu, Solana, and Dogecoin which lost 10.18%, 7.18%, and 6.65%, respectively.
In the last 24 hours, the market caps of Tether (USDT) and USD Coin (USDC) marginally declined to $66.48 billion and $43.11 billion, respectively. The market cap of BinanceUSD (BUSD) rose to $16.31 billion.
Bitcoin
BTC fell 2.26% to trade at $20,743 as of 07:00 ET. Its market dominance jumped to 41.4% from 41.2%.
In the last 24 hours, Bitcoin fell below $21,000 following the FUD spread by the U.S. Department of Justice’s enforcement action. According to Santiment, traders were scared that the DoJ was “honing in on something more drastic” rather than the actions taken against Bitzlato.
Ethereum
Ethereum dropped 3.64% over the last 24 hours to trade at $1,519 as of 07:00 ET. Its market dominance dropped to 19.3% from 19.5%.
ETH mirrored Bitcoin’s price movement in the last 24 hours, falling near $1500. The digital asset peaked at $1602 and bottomed at $1509.
Top 5 Gainers
TNC Coin
TNC is the day’s biggest gainer, increasing 26.96% over the reporting period to $0.103 as of press time. The Ethereum-based gaming token is up 59% in the last 30 days. Its market cap stood at $604.33 million.
Enjin Coin
ENJ gained 8.8% in the last 24 hours to trade at $0.41408 as of press time. The NFT-related blockchain recently launched the Enjin wallet and NFT marketplace NFT.io, increasing interest in the protocol. Its market cap stood at $414.08 million.
Kava
KAVA rose 7.78% to $1.03 in the last 24 hours. The DeFi token increased by over 40% in the last seven days. Its market cap stood at $395.52 million.
Ravencoin
RVN jumped 5.43% over the reporting period to $0.02518. The proof-of-work token is seeing renewed interest from the community, up 20% in the last 30 days. Its market cap stood at $305.15 million.
Everscale
EVER is back among the top gainer’s list, rising by 5.15% in the last 24 hours to $0.05251. Its market cap stood at $90.17 million
Top 5 Losers
Gala
GALA is the day’s top loser, plunging 13.05% to $0.04424 as of press time. The play-to-earn token had risen by 137% over the past month, topping major large-cap tokens gains. Its market cap stood at $308.64 million.
Galxe
GAL shed most of the gains it made on Jan. 18, falling 12.4% over the reporting period to $1.64 as of press time. Its market cap stood at $89.25 million.
Hex
HEX fell 12.15% in the last 24 hours and was trading for $0.02352 as of press time. The imminent launch of PulseChain by the project’s founder Richard Heart appears to have negatively impacted the token, falling by roughly 3% in the last seven days. Its market cap stood at $4.08 billion.
SafePal
SFP plunged 11.46% to $0.39232. The token’s price performance has been negative over the last seven days, declining by 3%. Its market cap stood at$127.27 million.
RocketPool
RPL decreased 11.36% in the last 24 hours to $31.61. The liquid staking token had spiked to as high as $42 following news of its Binance listing before retracing to its current levels. Its market cap stood at $324.95 million.
Mentioned in this article
Posted In: Wrapped
Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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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
$3,331.30
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Rocket Pool
$11.2067
Rocket Pool is a decentralised Ethereum Proof of Stake pool designed to be compatible with Casper.
SafePal
$0.70063
Founded in 2018, SafePal is a secure and powerful cryptocurrency wallet that helps users to protect and grow their decentralized assets.
HEX
$0.00362
HEX is a cryptocurrency launched in late 2019 by the founder going by the name “Richard Heart” and “RadicalHeart.” It is an ERC20 token built on the Ethereum blockchain, with a maximum supply of 633,642,618,630 HEX tokens.
Galxe
$1.85493
Galxe (previously Project Galaxy) is a leading Web3 credential data network and was launched on April 28, 2022, on Binance Launchpool.
Gala
$0.03530
GALA claims to be designed to power the Gala Games ecosystem to support gaming re-imagined to benefit creators and players, alike.
Everscale
$0.01810
Everscale is a layer-1 PoS blockchain network of the 5th generation.
Ravencoin
$0.02077
Ravencoin is a digital peer to peer network that aims to implement a use case specific blockchain, designed to efficiently handle one specific function: the transfer of assets from one party to another.
Kava
$0.44179
Kava is a lightning-fast Layer-1 blockchain featuring a developer-optimized co-chain architecture that combines the two most used permissionless ecosystems – Ethereum and Cosmos – into a single, scalable, network.
Enjin Coin
$0.21795
Enjin Coin is a platform that uses blockchain technology for social gaming and virtual goods.
