Bitcoin loses $27k level in red market: CryptoSlate wMarket Update Bitcoin loses $27k level in red market: CryptoSlate wMarket Update
The wMarket Update condenses the most important price movements in the crypto markets, published 07:45 ET on weekdays.
2 min read
Updated: May. 24, 2023 at 1:38 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Over the last 24 hours, the cryptocurrency market saw net outflows of $20 billion and currently stands at $1.12 trillion — down 1.98% from $1.14 trillion.
During the same period, the market caps of Bitcoin (BTC) and Ethereum (ETH) fell 2.11% and 2.15% to $517.69 billion and $218.07 billion, respectively.
All top crypto ten assets recorded losses. Dogecoin, Bitcoin, Ethereum, and Polkadot all shed more than 2%, respectively.
Tether’s (USDT) market cap grew to $83.03 billion. In contrast, USD Coin (USDC) and Binance USD (BUSD) fell to $29.24 billion and $5.40 billion, respectively.
Bitcoin
In the last 24 hours, Bitcoin fell 2.11% to trade at $26,727 as of 07:00 ET. Its market dominance dropped to 46.3% from 46.4%.
During the reporting period, BTC lost the $27,000 level as the bears took control of the market. CryptoSlate Insight reported that over $2 billion in BTC options would expire on May 26.
Ethereum
In the last 24 hours, Ethereum fell 2.15% to trade at $1,815 as of 07:00 ET. Its market dominance dropped to 19.5% from 19.6%.
ETH mostly mirrored BTC’s price performance. The asset’s exchange balance has dropped to a 5-year low as investors increasingly favor self-custody.
Top 5 Gainers
FantasyGold
FGC is the day’s biggest gainer, growing 100.6% over the last 24 hours to $1.35142 as of press time. The token is up by 99% over the previous week. Its market cap stood at $188.74 million.
ARPA Chain
ARPA jumped 39.18% to $0.09294 over the last 24 hours. The token is up 142% over the past month. Its market cap stood at $115.52 million.
Nervos Network
CKB gained 6.5% to trade at $0.00360 at the time of writing. Its market cap stood at $146.82 million.
WAVES
WAVES is on the top gainer’s list for the second consecutive day. It rose 6.03% to $2.00509 as of press time. Its market cap stood at $223.58 million.
tomiNet
TOMI grew 5.52% over the last 24 hours to $3.91423 as of press time. The privacy token has risen 19% in the previous 30 days and today has a market cap of $155.17 million.
Top 5 Losers
HEX
HEX is the day’s biggest loser, decreasing 21.13% to $0.02054 at the time of press. The token is on the top loser’s list for the third consecutive day. Its market cap stood at $3.56 billion.
LYXe
LUKSO fell 12.23% to $10.6588 over the reporting period. Its market cap stood at $166.02 million.
Kaspa
KAS is on the top loser’s list for the third consecutive day. The token dropped 9.63% to trade at $0.01420. Its market cap stood at $233.73 million.
FTX Token
FTT lost 8.95% and was trading at $1.00715 as of press time. The bankrupt exchange token has shed some of the gains it made on May 23. Its market cap stood at $331.25 million.
Sui
SUI sunk 8.46% to $0.98471 as of press time. The blockchain network token fell below $1 after losing 12% over the past week. Its market cap stood at $115.27 million.
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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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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
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Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).