The wMarket Update condenses the most important price movements in the crypto markets over the reporting period, published 07:45 ET on weekdays.
Cover art/illustration via CryptoSlate. Image includes combined content which may include the use of AI tools.
The cryptocurrency market cap saw net outflows of $8.3 billion over the last 24 hours and currently stands at $1.01 trillion — down 0.8% from $1.02 trillion.
Over the reporting period, Bitcoin and Ethereum's market cap fell 1.4% and 0.5% to $426.32 billion and $190.64 billion, respectively.
The top 10 crypto assets recorded a mixed performance over the last 24 hours. The top gainer was XRP, up 4.5%, as the judge overseeing the case prevented the SEC's expert witness from testifying. Solana brings up the rear, sinking 5% over the reporting period.
In the last 24 hours, the market cap of Tether (USDT) increased to $71.74 billion. Meanwhile, USD Coin (USDC) and Binance USD (BUSD) fell to $43.53 billion and $8.41 billion, respectively.
In the last 24 hours, Bitcoin decreased 1.4% to trade at $22,074 as of 07:00 ET. Its market dominance decreased to 42.2% from 42.4%.
Over the reporting period, BTC peaked at $22,480, triggering a strong rejection and causing a gradual downtrend that bottomed at $21,852 in the early hours of Wednesday.
Over the last 24 hours, Ethereum fell 0.5% to trade at $1,557 as of 07:00 ET. Its market dominance increased to 18.9% from 18.8%.
During the reporting period, ETH failed to break through the $1,572 resistance zone twice. The subsequent downtrend found support at $1,543 twice, sparking a bounce back on the second retest. A rejection at $1,570 set off another gradual downtrend.
VGX is the day's biggest gainer, rising 50% over the reporting period to $0.58414 as of press time. U.S. court approves Binance U.S. buyout deal. Its market cap stood at $162.67 million.
BONE increased 20.9% in the last 24 hours to trade at $1.81805 as of press time. The Shibarium layer 2 is set for public beta release this week. Its market cap stood at $418.02 million.
TRAC jumped 7% to $0.36859. Binance U.S. listed the token with effect from March 8. Its market cap stood at $134.71 million.
DAO gained 7% in the last 24 hours to trade at $1.82434. The token grew 27% over the past week. Its market cap stood at $262.6 million.
IMX is up 6.7% to $1.11437 as of press time. The project launched its Illuvium: Beyond card game on March 7. Its market cap stood at $946.49 million.
KAS is the day's biggest loser, falling 16.6% to trade at $0.01137 at the time of writing. Rumors state the Kaspa Discord was hacked, warning users to exercise caution on airdrops. Its market cap stood at $194.86 million.
RIF lost 14.2% to $0.12358 as of press time. The token has been trending down since March 3 but remains up 88% over the past month. Its market cap stood at $117 million.
WEMIX dumped 12.9% to $1.71233 in the last 24 hours. Its market cap stood at $421.71 million.
HEX fell 12.4% to $0.06110 over the reporting period. Rumors continue about impending SEC action. Its market cap stood at $10.6 billion.
TRU shed 6.9% in the last 24 hours to trade at $0.11770. Despite today's sell-off, the token is still up 16% over the past week. Its market cap stood at $115.37 million.
