CryptoSlate wMarket Update: Bitcoin $29,000 rally short-lived as top 10 assets plunge CryptoSlate wMarket Update: Bitcoin $29,000 rally short-lived as top 10 assets plunge
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: Mar. 30, 2023 at 12:31 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 around $4 billion over the last 24 hours and currently stands at $1.19 trillion — up 0.12%.
During the reporting period, Bitcoin market cap increased by 1.06% to $552.87 billion, while Ethereum’s market cap fell by 0.26% to $220.59 billion.
All top 10 crypto assets performed poorly in the last 24 hours except for BTC. XRP and Solana posted the highest loss of 5.61% and 3.09%, respectively. Others like Polygon, Polkadot, and Litecoin lost over 2% each.
BNB and ETH posted minor losses of less than 1%, respectively.
In the last 24 hours, the market cap of Tether (USDT) increased to $79.63 billion. Meanwhile, the market caps of USD Coin (USDC) and Binance USD fell to $33.25 billion and $7.66 billion, respectively.
Bitcoin
In the last 24 hours, Bitcoin jumped by 0.64% to trade at $28,553 as of 07:00 ET. Its market dominance increased to 46.6% from 46.3%.
During the reporting period, BTC touched a new high for 2023, with its rally above $29,000 during early trading hours.
Meanwhile, CryptoSlate’s Insight reported that over $4 billion in notional BTC options would expire on March 31.
Ethereum
Over the last 24 hours, Ethereum declined 0.75% to trade at $1,799 as of 07:00 ET. Its market dominance dropped to 18.6% from 18.7%.
During the reporting period, ETH peaked at $1,827 and bottomed at $1776. Blockchain analytical firm Santiment reported that the ETH supply on exchanges has dropped to an all-time low of 10.31%.
Top 5 Gainers
Solar
SXP is the day’s biggest gainer, rising 46.28% over the reporting period to $0.47581 as of press time. The project has been up 49% over the last 30 days. Its market cap stood at $266.22 million.
1Inch
1INCH surged 12.81% to $0.57528 during the reporting period. The project’s fusion mode now offers better rates in most cases and zero gas fees in some instances. Its market cap stood at $480.24 million.
Telcoin
TEL gained 12.53% to trade at $0.00240 at the time of writing. The token is down 15% over the past month. Its market cap stood at $159.35 million.
Dero
DERO is up 12.28% to $8.32294 as of press time. The privacy-focused project is rallying following the increased regulatory scrutiny on the U.S. banking system. Its market cap stood at $111.63 million.
GensoKishi Metaverse
MV rose 9.58% to $0.15183. Over the past week, the metaverse-related token has increased by 45%. Its market cap stood at $259.53 million.
Top 5 Losers
Core
CORE is the day’s biggest loser, falling 11.29% to trade at $1.73821 at the time of writing. The project has been experiencing a massive sell-off over the last 30 days, down 43.22%. Its market cap stood at $133.48 million.
renBTC
RENBTC declined 10.63% to $30,604 over the reporting period. The project has been up 35% over the last 30 days. Its market cap stood at $109.56 million.
OMG Network
OMG decreased 10.19% to $1.60578. It was unclear why the token was experiencing a sell-off. Its market stood at $225.2 million.
Flare
FLR is on the top losers list for the second consecutive day. It is down 8.79% to $0.03759 as of press time. Its market cap stood at $451.04 million.
Mask Network
MASK plunged 8.01% to $6.39216. The project has shed part of the 25% gains it made on March 29. Its market cap stood at $486.76 million.
Mentioned in this article
Bitcoin 
Ethereum 
Mask Network 
Flare 
renBTC 
OMG Network 
Dero 
GensoKishi Metaverse 
1inch 
Telcoin 
Solar 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
$3,480.06
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Mask Network
$3.23155
Mask Network is a decentralized portal that allows users to seamlessly send encrypted messages, use dapps like crypto payment, decentralized finance, decentralized storage, e-commerce (digital goods / NFTs), decentralized organizations (DAO) over the top of existing social networks without migrating, and thereby creates a decentralized Applet (DApplet) ecosystem..
Flare
$0.02797
Flare is an EVM-based Layer 1 blockchain designed to allow developers to build applications that are interoperable with blockchains and the internet.
renBTC
$67,790.71
Ren is an open protocol meant to enable the permissionless and private transfer of value between any blockchain.
OMG Network
$0.37596
OMG Network (first developed as OmiseGO) is a non-custodial, Layer 2 scaling solution for transferring value on Ethereum.
GensoKishi Metaverse
$0.01376
GENSOKISHI Online, is the new GameFi version of an award winning Nintendo Switch/PS4 game called “Elemental Knights”, that has been vigorously played for 13 years and has accumulated a total of 8 million downloads worldwide.
1inch
$0.41534
1inch is a decentralized exchange (DEX) aggregator that sources liquidity from various exchanges and is capable of splitting a single trade transaction across multiple DEXes.
Solar
$0.32501
Solar is a community-driven project that operates on a safe and secure layer-1 blockchain framework.