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CryptoSlate wMarket update: Bitcoin reclaims $27,000 amid flat market Oluwapelumi Adejumo · 11 months ago · 3 min read

News ▸ Wrapped

CryptoSlate wMarket update: Bitcoin reclaims $27,000 amid flat market

The wMarket Update condenses the most important price movements in the crypto markets over the reporting period, published 07:45 ET on weekdays.

Oluwapelumi Adejumo

May. 23, 2023 at 1:07 pm UTC

3 min read

Updated: May. 23, 2023 at 1:09 pm UTC

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

In the last 24 hours, the cryptocurrency market saw net inflows of $20 billion and currently stands at $1.14 trillion — up 1.16% from $1.12 trillion.

During the period, Bitcoin (BTC) and Ethereum (ETH) market caps rose 1.85% and 2.21% to $529.52 billion and $223.18 billion, respectively.

Except for XRP, Cardano, and Solana, which saw slight losses, other top 10 crypto assets recorded gains during the reporting period,

Ethereum, Bitcoin, BNB, and Polygon all rose between 1.5% and 2%.

CryptoSlate wMarket update — Source: CryptoSlate

Tether’s (USDT) market cap grew to $82.96 billion. In contrast, USD Coin (USDC) and Binance USD (BUSD) fell to $29.40 billion and $5.46 billion, respectively.

Bitcoin

In the last 24 hours, Bitcoin rose 1.85% to trade at $27,338 as of 07:00 ET. Its market dominance stayed rose to 46.4% from 46.3%.

During the reporting period, BTC mostly traded in a range before peaking at $27,434 during early trading hours. CryptoSlate Insight reported that the blockchain network is now the second-largest chain by NFT volume.

Ethereum

In the last 24 hours, Ethereum gained 2.21% to trade at $1,857 as of 07:00 ET. Its market dominance jumped to 19.6% from 19.4%.

ETH mostly mirrored BTC’s price performance, peaking at $1,869 before retracing to its current levels.

Top 5 Gainers

KAVA

KAVA is the day’s biggest gainer, growing 15.7% over the last 24 hours to $1.23888 as of press time. Its rally was pushed by South Korean exchanges removing an “investment warning” tag. Its market cap stood at $658.84 million.

WAVES

WAVES rose 13.58% to $1.86901 as of press time. Like KAVA, South Korean exchanges removed the warning tag attached to it. Its market cap stood at $208.39 million.

STEPN

GMT jumped 11.08% to $0.30117 over the last 24 hours. On May 22, Stepn announced that its users can now buy NFTs through Apple Pay. Its market cap stood at $259.8 million.

TomoChain

TOMO grew 10.93% over the last 24 hours to $1.25667 as of press time. The EVM-compatible chain has been up 96% in the previous 30 days. Its market cap stood at $126.94 million.

FTX Token

FTT gained 8.9% to trade at $1.09622 at the time of writing. Its rally is fueled by news of a possible restart. Its market cap stood at $360.54 million.

Top 5 Losers

Multichain

MULTI is the day’s biggest loser falling 9.78% to $7.01651 at the time of press. Over the past month, the project has shed 25%. Its market cap stood at $102.03 million.

Kaspa

KAS is on the top loser’s list for the second consecutive day. The token dropped 7.3% to trade at $0.01420. It is unclear why the token is experiencing a heavy sell-off. Its market cap stood at $265.39 million.

HEX

HEX fell 6.22% to $0.02593 over the reporting period. Its market cap stood at $4.5 billion.

WEMIX

WEMIX lost 5.47% and was trading at $0.81256 as of press time. The NFT-related token has lost over 30% in the last 30 days. Its market cap stood at $204.38 million.

iExec RLC

RLC sunk 3.33% to $1.59250 as of press time. Despite today’s drawdown, the token is up 4% in the last seven days. Its market cap stood at $115.27 million.

Mentioned in this article

Posted In: Wrapped

Author

Oluwapelumi Adejumo

Journalist at CryptoSlate

Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.

Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

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