Crypto market massacre sees $78 billion in outflows: CryptoSlate Daily wMarket Update
The cryptocurrency market cap saw net outflows of $77.63 billion over the past 24 hours and currently stands at $917.63 billion – down 7.8% from $995.26 billion.
During the reporting period, Bitcoin and Ethereum’s market capitalization fell by 8.9% and 10% to $381.71 billion and $169.6 billion, respectively.
The top 10 crypto assets recorded losses in the last 24 hours. The biggest losers were Solana, down 11.9%, and Dogecoin, which fell 11%. Cardano fared best, limiting losses to 4.6% amid the market carnage.
Over the past 24 hours, the market capitalizations of Tether (USDT) and USD Coin (USDC) have increased to $71.76 billion and $43.51 billion, respectively. Meanwhile, Binance USD (BUSD) was flat at $8.4 billion.
Bitcoin
Over the past 24 hours, Bitcoin fell 8.9% to trade at $19,729 as of 7:00 a.m. ET. Market dominance fell to 41.6% from 42.1%.
During the reporting period, BTC peaked at $21,825 before trickling down to find support at $20,050. A subdued bounce reached $20,500, leading to a gradual downtrend, losing $20,000 in the process.
Ethereum
In the last 24 hours, Ethereum fell 10% to trade at $1,383 as of 07:00 ET. Market dominance fell to 18.5% from 18.9%.
ETH’s price performance mirrored that of Bitcoin. A peak at $1,546 was followed by a sharp selloff that found support at $1,408. The subsequent rejection peaked at $1,449, turning into a gradual downtrend that pressed a local bottom of $1,370.
Top 5 winners
GensoKishi Metaverse
MV is the day’s biggest gainer, rising 8.7% over the reporting period to $0.12979 as of press time. The project recently launched a program to reward creators. The market value was $221.85 million.
aelf
ELF jumped 6.3% to $0.29471. aelf extended its mainnet token swap to June. The market value was $171.36 million.
Hashflow
HFT gained 2.8% in the last 24 hours to trade at $0.60829 as of press time. The market value was $115.46 million.
Radio Caca
RACA gained 2.1% in the last 24 hours to trade at $0.00038. The token fell 15.4% in the last week. The market value was $120.96 million.
Kava
KAVA is up 0.9% to $0.87093 as of press time. The project recently announced a $750 million developer incentive fund. The market value was $380.58 million.
Top 5 losers
FLOOKIE
FLOKI is the biggest loser of the day, falling 25.3% to trade at $0.00003 at the time of writing. The token was recently listed on the WazirX exchange. The market value was $242.49 million.
Onyxcoin
XCN fell 22.9% to $0.00598 over the reporting period. The token is down 45.8% in the last month. The market value was $140.51 million.
Core
CORE lost 22.4% to $2.09076 as of press time. The market value was $133.53 million.
The Huobi Token
HT dumped 21.4% to $3.80856 the last 24 hours. Justin Sun blamed the token’s flash crash on leveraged liquidations that led to a price drop. The market value was $617.88 million.
SingularityNET
AGIX was down 20.9% in the last 24 hours to trade at $0.29556. The market value was $356.24 million.
Disclaimer: Our authors’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Do your own due diligence before taking any action related to the content of this article. Finally, CryptoSlate takes no responsibility if you lose money trading cryptocurrencies.
