CryptoSlate wMarket Update: BNB bucks weekend sell-off
The wMarket Update condenses the most important price movements in the crypto markets over the reporting period, published 07:45 ET on weekdays.
Since the last wMarket report on April 28, the cryptocurrency market cap saw net outflows of $26.9 billion and currently stands at $1.18 trillion — down 2.2% from $1.21 trillion.
Since April 28, Bitcoin and Ethereum’s market cap fell 2.5% and 3.4% to $552.95 billion and $222.27 billion during the reporting period, respectively.
The top 10 cryptocurrencies sold off over the last 24 hours except BNB, which grew 4.1% in value. Meanwhile, Solana suffered the most significant loss, down 5.5%, followed by Litecoin, which fell 3.5%.
The market cap of Tether (USDT) grew to $81.74 billion. In contrast, USD Coin (USDC) and Binance USD (BUSD) fell to $30.49 billion and $6.19 billion, respectively.
In the last 24 hours, Bitcoin decreased 2.3% to trade at $28,557 as of 07:00 ET. Its market dominance fell to 46.9% from 47%.
Since April 28, flat price action saw BTC spike higher, topping out at $29,990 on Sunday noon. A gradual downtrend turned into a sharp spill that found support at $28,400. Bears subsequently dipped the price below this level, bouncing at $28,200 – indicating general weakness at current prices.
Over the last 24 hours, Ethereum fell 3.1% to trade at $1,846 as of 07:00 ET. Its market dominance declined to 18.8% from 19.1%.
Since April 28, ETH price action closely followed Bitcoin to peak at $1,940 by noon on Sunday. The resulting downtrend found support at $1,825, but successive candles traded above this price – suggesting good support at this level.
Top 5 Gainers
RAD is the day’s biggest gainer, growing 16.9% over the last 24 hours to $2.62081 as of press time. The project said its “Heartwood” protocol is in the works – it will improve usability and performance, including enhancing privacy. Its market cap stood at $130.59 million.
CTSI gained 10.5% to trade at $0.23890 at the time of writing. The third Cartesi Game Developer Community CallI is scheduled for this Friday. Its market cap stood at $174.76 million.
LN grew 6.3% over the last 24 hours to $41.6526 as of press time. Its market cap stood at $280.51 million.
PEOPLE rose 5.9% to $0.02272 as of press time. The project said it had failed to achieve its goal of buying the U.S. Constitution in November 2021. Its market cap stood at $114.97 million.
BNB gained 4.1% to $335.716 over the last 24 hours. Its market cap stood at $52.33 billion.
Top 5 Losers
MX is the day’s biggest loser, falling 8.5% to trade at $2.31477 at the time of writing. Its market cap stood at $231.48 million.
FTT fell 8.4% to $0.05369 over the reporting period. FTX’s Japanese subsidiary intends to restart its business. Its market cap stood at $482.44 million.
JOE plunged 7.7% to trade at $0.45357 as of press time. Its market cap stood at $152.6 million.
BLUR fell 7.5% to $0.67915 over the reporting period. Its market cap stood at $308.39 million.
ID dropped 7.2% to trade at $0.60806. The project introduced “.sei” recently – a digital identity protocol. Its market cap stood at $185.15 million.