CryptoSlate wMarket Update: Crypto market dips 1.5%, Litecoin defies wider downtrend CryptoSlate wMarket Update: Crypto market dips 1.5%, Litecoin defies wider downtrend
The wMarket Update condenses the most important price movements in the crypto markets over the reporting period, published 07:45 ET on weekdays.
2 min read
Updated: May. 2, 2023 at 12:32 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The cryptocurrency market cap saw net outflows of $17.1 billion over the last 24 hours and currently stands at $1.16 trillion — down 1.5% from $1.18 trillion.
During the reporting period, Bitcoin (BTC) and Ethereum’s (ETH) market cap fell 1.9% and 0.9% to $542.62 billion and $220.3 billion, respectively.
The top 10 cryptocurrencies sold off over the last 24 hours except for Litecoin (LTC), which managed to stay in the green, posting 0.7% gains. Meanwhile, BNB, yesterday’s top gain, suffered the most significant drawdown – down 3.5%.
The market cap of Tether (USDT) grew to $81.82 billion. In contrast, USD Coin (USDC) and Binance USD (BUSD) fell to $30.39 billion and $6.15 billion, respectively.
Bitcoin
In the last 24 hours, Bitcoin decreased 1.9% to trade at $28,022 as of 07:00 ET. Its market dominance fell to 46.7% from 46.9%.
During the reporting period, BTC trended downwards to form a local bottom at $27,700 by Monday evening. The subsequent recovery was somewhat muted, with the $28,170 zone acting as resistance.
Ethereum
Over the last 24 hours, Ethereum fell 0.9% to trade at $1,830 as of 07:00 ET. Its market dominance increased to 18.9% from 18.8%.
During the reporting period, ETH’s price action closely followed Bitcoin, finding support at $1,809. The subsequent bounce peaked at $1,838, with bulls managing another push higher, to $1,840, some six hours later.
Top 5 Gainers
Radicle
RAD is the day’s biggest gainer, growing 61.2% over the last 24 hours to $4.22423 as of press time. The token was yesterday’s top performer. A recent tweet stated development on its “Heartwood” protocol is underway. Its market cap stood at $210.49 million.
UMA
UMA gained 12.5% to trade at $2.21464 at the time of writing. The project teased its “oSnap” DAO integration. Its market cap stood at $157.59 million.
Axelar
AXL grew 9.4% over the last 24 hours to $0.55959 as of press time. Its market cap stood at $136.94 million.
iExec RLC
RLC gained 7.4% to $2.01347 over the last 24 hours. Its market cap stood at $163.09 million.
Solar
SXP rose 6.7% to $0.57299 as of press time. Despite today’s gains, the token is still down 28.4% over the past 30 days. Its market cap stood at $322.63 million.
Top 5 Losers
Cartesi
CTSI is the day’s biggest loser, falling 12.9% to trade at $0.20821 at the time of writing. The project called on users to submit governance proposals. Its market cap stood at $152.33 million.
Render Token
RNDR fell 11.4% to $2.08537 over the reporting period. Despite today’s losses, the token is still up 61.3% over the past 30 days. Its market cap stood at $758.89 million.
WEMIX
WEMIX dropped 9.9% to trade at $1.12742. Its market cap stood at $281.53 million.
Blur
BLUR fell 8.8% to $0.62082 over the reporting period. Blur recently released its NFT lending facility. Its market cap stood at $282.5 million.
Kaspa
KAS plunged 8.5% to trade at $0.02419 as of press time. The token is down 38.8% over the past month. Its market cap stood at $442.26 million.
Mentioned in this article
Author 
Samuel Wan
Samuel Wan, a finance professional turned full-time crypto content creator, values individual autonomy and personal freedom in his pursuits.
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