CryptoSlate wMarket Update: Mixed market performance sees Bitcoin drop below $28,000
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 outflows of around $20 billion over the last 24 hours and currently stands at $1.17 trillion — down 1.55% from $1.19 trillion.
During the reporting period, Bitcoin and Ethereum’s market cap fell by 2.38% and 2.04% to $539.89 billion $216.15 billion, respectively.
All top 10 crypto assets performed poorly in the last 24 hours except for BNB, Cardano and Polkadat which posted marginal gains.
Polygon and Bitcoin posted the highest loss of over 2% respectively. Other assets like Ethereum, Dogecoin saw slight losses during the reporting period.
In the last 24 hours, the market cap of Tether (USDT) increased to $79.70 billion. Meanwhile, the market caps of USD Coin (USDC) and Binance USD fell to $32.85 billion and $7.61 billion, respectively.
In the last 24 hours, Bitcoin decreased by 2.37% to trade at $27,900 as of 07:00 ET. Its market dominance plunged to 46.2% from 46.6%.
During the reporting period, Bitcoin lost the $28,000 level again an bottomed at $27,583. Around $4 billion worth of BTC options are set to expire later today.
CryptoSlate Insight reported that on-chain data shows a Bitcoin’s market sentiment transition from bear to bull market
Over the last 24 hours, Ethereum declined 0.31% to trade at $1,792 as of 07:00 ET. Its market dominance dropped to 18.5% from 18.6%.
ETH’s price performance mirrored that of BTC. The asset peaked at $1,816 and bottomed at $1,766 over the reporting period.
Top 5 Gainers
SXP is the day’s biggest gainer for the second consecutive day. The token rose 33.53% over the reporting period to $0.62974 as of press time. The project has been up 99% over the last 30 days. Its market cap stood at $352.41 million.
Baby Doge Coin
BabyDOGE surged 28.13% to $0.000000002912 during the reporting period. The meme token announced it would be listed by a top 10 exchange on March 31. Its market cap stood at $333.25 million.
HOT gained 12.82% to trade at $0.00207 at the time of writing. The token is down 0.08% over the past month. Its market cap stood at $358.41 million.
DERO is up 10.31% to $0.55803 as of press time. The NFT marketplace token has fallen 30% in the last 30 days. Its market cap stood at $236.9 million.
ELF rose 10.16% to $0.32708. Over the past week, the smart contract network has been up 4%. Its market cap stood at $193.47 million.
Top 5 Losers
RON is the day’s biggest loser, falling 14.83% to trade at $0.94807 at the time of writing. The project has been experiencing a sell-off over the last seven days, down 17%. Its market cap stood at $171.85 million.
FLR is on the top losers list for the third consecutive day. It is down 8.97% to $0.03431 as of press time. Its market cap stood at $411.72 million.
STX declined 6.63% to $0.88872 over the reporting period. Interest in the project appears to have waned as it has shed 20% of its value over the past week. Its market cap stood at $1.22 billion.
ACH plunged 5.41% to $0.03446. Its market cap stood at $175.13 million.
Alethea Liquid Intelligence
ALI decreased 5.15% to $0.03557. The AI-related token has tanked by 46% in the last 30 days. Its market stood at $127.63 million.