CryptoSlate wMarket Update: False US government Bitcoin selling rumors trigger mild 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.
In the last 24 hours, the cryptocurrency market cap saw net outflows of around $10 billion and currently stands at $1.13 trillion — down 0.36% from $1.14 trillion.
All top 10 crypto assets recorded losses in the last 24 hoursPolkadot, BNB, and Cardano, which saw minimal gains.
The market cap of Tether (USDT) grew to $82.66 billion. In contrast, USD Coin (USDC) and Binance USD (BUSD) fell to $30.12 billion and $5.76 billion, respectively.
In the last 24 hours, Bitcoin fell 0.51% to trade at $27,472 as of 07:00 ET. Its market dominance remained fell to 46.9% from 47%.
During the reporting period, BTC’s price sharply descended to $26,883 after breaching the $28,000 level. The flagship asset sell-off was triggered by false rumors that the U.S. government was moving its holdings.
Over the last 24 hours, Ethereum saw a declined 1.13% to trade at $1,823 as of 07:00 ET. Its market dominance fell to 19.3% from 19.5%.
ETH mirrored BTC’s price performance, bottoming at $1,795 before rebounding to its current levels.
Top 5 Gainers
ANT is the day’s biggest gainer, growing 17.3% over the last 24 hours to $3.24027 as of press time. The token is up 12% in the previous seven days. Its market cap stood at $129.71 million.
HEX rose 15.06% to $0.06680 as of press time. HEX founder Richard Heart says PulseChain is launching within seven days. Its market cap stood at $11.58 billion.
LQTY gained 7.2% to trade at $1.27271 at the time of writing. The Ethereum-based token has shed 26% over the past week. Its market cap stood at $214.96 million.
EDU jumped 6.8% to $1.12873 over the last 24 hours. The decentralized educational protocol onboarded Dalton Learning Lab earlier today. Its market cap stood at $163.8 million.
ELF grew 6.86% over the last 24 hours to $0.29884 as of press time. Its market cap stood at $117.05 million.
Top 5 Losers
PEPE is the day’s biggest loser, falling 14.64% to trade at $0.0000016307 at the time of writing. The high-flying meme coin’s market cap is down more than $1 billion in the last seven days. Its market cap stood at $640.64 million.
TOMI dropped 8.23% to trade at $4.05133. Despite today’s drawdown, the token has increased more than 73% over the past month. Its market cap stood at $160.6 million.
BSV plunged 7.78% to trade at $35.7792 as of press time. The controversial token rose by 33% on May 9. Its market cap stood at $689.32 million.
XRD lost 6.41% to $0.07189 over the reporting period. The smart contract network is up 30% in the last 30 days. Its market cap stood at $730.97 million.
BCH fell 5.13% to $114.177 over the reporting period. Its market cap stood at $2.21 billion.