CryptoSlate wMarket Update: Litecoin re-enters top 10 amid wider market weakness CryptoSlate wMarket Update: Litecoin re-enters top 10 amid wider market weakness
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. 16, 2023 at 12:26 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The cryptocurrency market saw net outflows of $17.6 billion over the last 24 hours and currently stands at $1.13 trillion โ down 1.5% from $1.14 trillion.
During the reporting period, the Bitcoin (BTC) and Ethereum (ETH) market caps fell 1.4% and 1% to $523.55 billion and $218.09 billion, respectively.
Most of the top 10 crypto assets posted losses over the last 24 hours except TRON, up 0.3%, and Litecoin, gaining 2.1% to re-enter the top 10, ousting Polkadot. The biggest losers were Solana and Polygon, down 2.4% and 1.9%, respectively.
The market cap of Tether (USDT) grew to $82.84 billion. In contrast, USD Coin (USDC) and Binance USD (BUSD) fell to $29.80 billion and $5.56 billion, respectively.
Bitcoin
In the last 24 hours, Bitcoin fell 1.4% to trade at $27,018 as of 07:00 ET. Its market dominance stayed flat at 46.5%.
During the reporting period, BTC hit a peak price of $27,660 before trending down to find support at $26,860 by Monday evening (ET). A muted recovery topped at $27,250, leading to a further spill.
Ethereum
In the last 24 hours, Ethereum decreased 1% to trade at $1,812 as of 07:00 ET. Its market dominance fell to 19.4% from 19.7%.
Over the reporting period, ETH’s price followed BTC, reaching a $1,846 top shortly after midday Monday (ET) before bears dipped as low as $1,796. The subsequent recovery lost steam at $1,828, leading to further selling.
Top 5 Gainers
MiL.k
MLK is the day’s biggest gainer, growing 14.4% over the last 24 hours to $0.38392 as of press time. The project has yet to tweet since April 18. Its market cap stood at $108.66 million.
DAO Maker
DAO jumped 11.9% to $1.57356 over the last 24 hours. The project recently unveiled Tenet – an upcoming layer 1 chain. Its market cap stood at $226.5 million.
HEX
HEX grew 9.7% over the last 24 hours to $0.03487 as of press time. The PulseChain mainnet launched on May 13. The current activity is focused on bridging assets to the new chain. Its market cap stood at $6.05 billion.
Conflux Network
CFX rose 9% to $0.31291 as of press time. The token was a top gainer yesterday off recent interest in Conflux incubated project – Flux Fire. It was announced today that Mold Finance would migrate to the Conflux ecosystem. Its market cap stood at $900.91 million.
Ontology
ONT gained 7.7% to trade at $0.21919 at the time of writing. Node API firm GetBlock has partnered with Ontology. Its market cap stood at $191.84 million.
Top 5 Losers
Open Campus
EDU is the day’s biggest loser falling 10.1% to $1.18428 at the time of writing. The project announced a $10 million global educators fund for content creation grants. The token was yesterday’s top gainer. Its market cap stood at $171.86 million.
Telcoin
TEL dropped 9% to trade at $0.00172. The mobile payment platform said USDC deposits and EUR withdrawals are now available. Its market cap stood at $115.41 million.
OriginTrail
TRAC plunged 8.4% to trade at $0.26243 asย of press time. The team hosted a special tech AMA on May 15. Its market cap stood at $103.29 million.
XinFin
XDC lost 6.9% to $0.03138 over the reporting period. Its market cap stood at $434.19 million.
UMA
UMA fell 6.5% to $2.20875 over the reporting period. UMA’s optimistic oracle was deployed on Coinbase’s layer 2 project Base. Its market cap stood at $157.49 million.
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.
Mentioned in this article
Bitcoin 
Ethereum 
MiL.k 
DAO Maker 
HEX 
Conflux Network 
Ontology 
Open Campus 
Telcoin 
OriginTrail 
XDC Network 
UMA 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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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,293.64
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
MiL.k
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Mil.k Alliance Project is aย platform that brings together the points of lifestyle services and make them interchangeable for other services you need.
DAO Maker
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DAO Maker Token is the governance token of the DAO Maker Ecosystem built on Ethereum, allowing holders to govern the ecosystem.
HEX
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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.
Conflux Network
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Conflux Network is an open protocol for a new world of DApps, finance, and Web 3.0.
Ontology
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Ontology is a new generation public blockchain project & a distributed trust collaboration platform..
Open Campus
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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.
OriginTrail
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OriginTrail is anย Ethereum-based ecosystem for supply chain use cases, founded in 2011.
XDC Network
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XDC Network (formerly known as XinFin Network) is a hybrid (public / private) blockchain platform that combines the transparency of public blockchains with the speed and security of private networks.
UMA
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UMA is a decentralized financial contracts platform built to enable Universal Market Access.