CryptoSlate wMarket Update: Bitcoin climbs above $29k amid new US banking crisis
The wMarket Update condenses the most important price movements in the crypto markets over the reporting period, published 07:45 ET on weekdays.
In the last 24 hours, the cryptocurrency market cap saw net inflows of $60 billion and currently stands at $1.21 trillion — up 5.05% from $1.15 trillion.
During the period, Bitcoin and Ethereum’s’ market caps gained 6.10% and 5,15% to $563.07 billion and $231.14 billion, respectively.
All top 10 cryptocurrencies saw gains during the reporting period. The biggest gainers were Solana, Cardano, Bitcoin, and Polygon, which increased by more than 6%.
The market cap of Tether (USDT) grew to $81.58 billion. In contrast, USD Coin (USDC) and Binance USD (BUSD) fell to $30.68 billion and $6.34 billion, respectively.
In the last 24 hours, Bitcoin increased 6.18% to trade at $29,025 as of 07:00 ET. Its market dominance grew to 46.6% from 46%.
During the reporting period, Bitcoin broke two psychological price barriers — $29,000 and $28,000 — amid new concerns over a U.S. banking crisis. CryptoSlate Insight reported that BTC is up more than 35% from the start of the banking collapse back in mid-March.
Over the last 24 hours, Ethereum rose 5.56% to trade at $1,916 as of 07:00 ET. Its market dominance increased to 19.1% from 19.0%.
Like BTC, the bulls controlled ETH as it rallied to as high as $1918 during the reporting period. Staked ETH deposits have outpaced withdrawals over the past few days.
Top 5 Gainers
MVL is the day’s biggest gainer growing 26.4% over the last 24 hours to $0.00541 as of press time. The relatively unknown token is up 40% in the previous 30 days. Its market cap stood at $123.58 million.
XRD grew 16.43% over the last 24 hours to $0.10459 as of press time. The smart contract token has risen over 100% in the previous 30 days. Its market cap stood at $1.06 billion.
RNDR gained 9.14% to trade at $7.17559 at the time of writing. The blockchain network received its community to implement the BME model on the Solana blockchain. Its market cap stood at $768.67 million.
SXP rose 14.84% to $0.60941 over the last 24 hours. Like Radix, the token has increased by over 100% in the previous 30 days. Its market cap stood at $342.74 million.
INJ is up 12.92% to $8.15165 as of press time. The project’s value increased by 120% in the last 30 days. Its market cap stood at $652.18 million.
Top 5 Losers
VGX is the day’s biggest loser, falling 22.56% to trade at $0.28137 at the time of writing.. Binance.US walked out of its deal with the bankrupt crypto lender. Its market cap stood at $73.86 million.
TEM is among the top losers for the third consecutive day. It declined 7.66% to $0.00589 over the reporting period. Its market cap stood at $159.69 million.
BNX decreased 5.28% to $0.62703 over the reporting period. Its market cap stood at $181.29 million.
FLOKI dropped 5.03% to trade at $0.00004. The meme coin has continued its poor price performance after being listed by Binance.US. Its market cap stood at $360.85 million.
CTSI plunged 2.56% to trade at $0.23853 as of press time. Despite today’s drawdown, the token is up 78% over the last 30 days. Its market cap stood at $173.66 million.