CryptoSlate wMarket Update: False US government Bitcoin selling rumors trigger mild sell-off 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.
2 min read
Updated: May. 11, 2023 at 12:37 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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.
During the period, Bitcoin (BTC) and Ethereum’s (ETH) market cap fell 0.50% and 1.06% to $531.38 billion and $219.29 billion, respectively.
All top 10 crypto assets recorded losses in the last 24 hours Polkadot, 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.
Bitcoin
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.
Ethereum
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
Aragon
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
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.
Liquity
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.
Open Campus
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.
aelf
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
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.
tomiNET
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.
Bitcoin SV
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.
Radix
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.
Bitcoin Cash
BCH fell 5.13% to $114.177 over the reporting period. Its market cap stood at $2.21 billion.
Disclaimer: CryptoSlate has received a grant from the Polkadot Foundation to produce content about the Polkadot ecosystem. While the Foundation supports our coverage, we maintain full editorial independence and control over the content we publish.
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Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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In this article
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Bitcoin
$94,438.97
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Bitcoin SV
$69.0934
Bitcoin SV is a full-node implementation for Bitcoin Cash (BCH).
Bitcoin Cash
$449.093
Bitcoin Cash (BCH) is a cryptocurrency created via a fork of the Bitcoin network.
Radix
$0.01633
Radix is a layer 1 smart contract platform that started from the problem of how to decentralize the $400 trillion global financial system and worked backwards from that objective.
tomiNet
$0.01136
tomi is a project engaged in the development of a decentralized alternative internet network to be used as the infrastructure platform for the Web3.
Open Campus
$0.50792
The Open Campus Protocol is a decentralized solution for educators, content creators, parents, students, and co-publishers designed to address the major challenges in education today.
Liquity
$1.17673
Liquity is a decentralized borrowing protocol built on Ethereum that utilizes LQTY, a USD-pegged stablecoin.
