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