CryptoSlate wMarket Update: HEX defies wider market downturn to lead top gainers CryptoSlate wMarket Update: HEX defies wider market downturn to lead top gainers
The wMarket Update condenses the most important price movements in the crypto markets over the reporting period, published 07:45 ET on weekdays.
3 min read
Updated: May. 19, 2023 at 12:28 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The cryptocurrency market saw net outflows of $12.3 billion over the last 24 hours and currently stands at $1.12 trillion — down 1.1% from $1.14 trillion.
During the reporting period, the Bitcoin (BTC) and Ethereum (ETH) market caps fell 1.9% and 1% to $520.18 billion and $217.56 billion, respectively.
The top 10 crypto assets recorded losses over the last 24 hours except for XRP, which saw strong momentum this week from positive news related to the SEC lawsuit and the acquisition of Metaco. Today’s biggest loser is Cardano, dropping 2.3%.
The market caps of Tether (USDT) and USD Coin (USDC) grew to $82.85 billion and $29.58 billion, respectively — whereas Binance USD (BUSD) stayed flat at $5.54 billion.
Bitcoin
In the last 24 hours, Bitcoin fell 1.9% to trade at $26,853 as of 07:00 ET. Its market dominance decreased to 46.3% from 46.5%.
During the reporting period, BTC saw a peak price of $27,480 before trending down, leading to a sharp spill that bottomed at $26,370. A muted recovery topped out at $27,090, followed by a flat-ranging pattern.
Ethereum
In the last 24 hours, Ethereum decreased 1% to trade at $1,809 as of 07:00 ET. Its market dominance rose to 19.4% from 19.3%.
Over the reporting period, ETH saw a sell-off that found support at $1,774 at Thursday lunchtime (ET). A strong bounce followed to top out at $1,822, leading to a minor spill and then a flat print from yesterday evening onwards.
Top 5 Gainers
HEX
HEX is the day’s biggest gainer, growing 10.1% over the last 24 hours to $0.03227 as of press time. The recent launch of PulseChain saw multiple events and milestones, including billions of tokens burned and daily volume exceeding $100 million. Its market cap stood at $5.6 billion.
Injective
INJ rose 5.6% to $6.95521 as of press time. The project is joining the Wormhole cross-chain ecosystem. Its market cap stood at $556.46 million.
Polymesh
POLYX jumped 5.1% to $0.16686 over the last 24 hours. Binance said it would be operating a Polymesh node. Its market cap stood at $106.13 million.
Cocos-BCX
COCOS grew 4.4% over the last 24 hours to $1.70749 as of press time. The project has rebranded to COMBO. Its market cap stood at $121.32 million.
Bitget Token
BGB gained 3.9% to trade at $0.47792 at the time of writing. The Bitget exchange released its Q1 Transparency Report. Its market cap stood at $669.09 million.
Top 5 Losers
Kaspa
KAS is the day’s biggest loser falling 18.4% to $0.01568 at the time of press. The project said it would translate its Kaspium mobile wallet into other languages. Its market cap stood at $291.87 million.
JOE
JOE dropped 6.9% to trade at $0.36854. The project is set to release new collectibles, rewards, and mints. Its market cap stood at $123.99 million.
Bitgert
BRISE lost 6% to $0.000000329416 over the reporting period. The token was a top-five loser yesterday. Its market cap stood at $130.71 million.
Optimism
OP sunk 5.7% to $1.70332 as of press time. Like Injective, Optimism is a member of the Wormhole cross-chain ecosystem. Its market cap stood at $571.25 million.
Pepe
PEPE fell 5% to $0.00000152 over the reporting period. The Bithumb exchange listed Pepe on Thursday. Its market cap stood at $593.92 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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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,339.90
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
HEX
$0.00424
HEX is a cryptocurrency launched in late 2019 by the founder going by the name “Richard Heart” and “RadicalHeart.” It is an ERC20 token built on the Ethereum blockchain, with a maximum supply of 633,642,618,630 HEX tokens.
Injective
$21.6045
Injective is an open interoperable smart contracts platform optimized for decentralized finance applications.
Polymesh
$0.28063
Polymesh is a blockchain for regulated securities and open finance.
Bitget Token
$4.03519
BGB (Bitget Token) is the native utility token of Bitget.
Kaspa
$0.11822
Kaspa is a proof-of-work cryptocurrency which implements the GHOSTDAG protocol.
JOE
$0.39512
JOE is a governance token that also rewards its holders with a share of exchange revenues.
Bitgert
$0.00000
Bitgert (BRISE) is a crypto engineering project launched in July 2021 that specializes in blockchain products and auditing solutions.
Optimism
$1.83021
Optimism is a layer-2 scaling network for the Ethereum blockchain.
