CryptoSlate wMarket Update: Crypto market recovers this week’s losses
The wMarket Update condenses the most important price movements in the crypto markets over the reporting period, published 07:45 ET on weekdays.
The cryptocurrency market cap saw net inflows of $22.6 billion over the last 24 hours and currently stands at $1.20 trillion — up 1.9% from $1.18 trillion.
All of the top 10 cryptocurrencies recorded gains over the last 24 hours. Solana leads the pack, up 3%. Meanwhile, Litecoin managed to stay in the green, having posted a 0.4% increase in value.
The market cap of Tether (USDT) grew to $82.01 billion. In contrast, USD Coin (USDC) and Binance USD (BUSD) fell to $30.18 billion and $5.99 billion, respectively.
In the last 24 hours, Bitcoin increased 2.2% to trade at $29,238 as of 07:00 ET. Its market dominance grew to 47.2% from 47%.
During the reporting period, BTC saw a double dip that broke through $28,800 resistance by Wednesday evening (ET). Peaking at $29,270, BTC managed to retain most of the gains, leading to another move higher that topped at $29,380 after 06:00.
Over the last 24 hours, Ethereum grew 2.4% to trade at $1,912 as of 07:00 ET. Its market dominance increased to 19.2% from 19.1%.
During the reporting period, ETH tapped the $1,894 resistance level multiple times before breaking through at 18:00 yesterday. The second-largest cryptocurrency was rejected at $1,916, triggering a slight drop into a flat trading pattern — a retest of this level was rejected in the early hours of today.
Top 5 Gainers
HEX is the day’s biggest gainer, growing 17.1% over the last 24 hours to $0.06652 as of press time. The PulseChain main net is expected to launch soon. Its market cap stood at $11.54 billion.
WOO grew 12.6% over the last 24 hours to $0.29400 as of press time. Its market cap stood at $493.51 million.
RAD gained 12.1% to trade at $3.95273 at the time of writing. The project is working on its Heartwood upgrade. Its market cap stood at $196.96 million.
KAS gained 10.9% to $0.02899 over the last 24 hours. The project recently hosted a workshop on the Kaspa protocol. Its market cap stood at $531.12 million.
CFX rose 8.5% to $0.33264 as of press time. The network’s first DEX, vSwap, launched this month. Its market cap stood at $927.55 million.
Top 5 Losers
SUI is the day’s biggest loser, falling 69.6% to trade at $1.37294 at the time of writing. The Sui main net launched on May 3. Its market cap stood at $725.29 million.
RIF dropped 10.7% to trade at $0.14322. The project launched its DeFi use case by region report today. Its market cap stood at $137.5 million.
CORE fell 9% to $1.33332 over the reporting period. The project hosted its Discord and Telegram AMA yesterday. Its market cap stood at $149.28 million.
XRD fell 6.1% to $0.08552 over the reporting period. Despite today’s sell-off, the token is still up 79.6% over the past month. Its market cap stood at $869.08 million.
WEMIX plunged 4.9% to trade at $1.06573 as of press time. Its market cap stood at $266.31 million.