Bitcoin faces resistance at $28,000 as liquidity concerns mount
The cryptocurrency market capitalization saw a net inflow of around $10 billion over the past 24 hours and is currently $1.16 trillion – up 0.16%.
During the reporting period, Bitcoin’s market cap increased by 0.88% to $540.81 billion – while Ethereum’s market cap fell by 0.32% to $216.37 billion.
Apart from Bitcoin, BNB and XRP, other top 10 cryptocurrencies recorded losses during the reporting period. XRP saw the highest gain of 2.04%, while Polygon and Cardano had the highest losses of 1.5% and 1.46% respectively.
In the last 24 hours, the market capitalization of Tether (USDT) increased to $79.04 billion. Meanwhile, the market capitalizations of USD Coin (USDC) and Binance USD fell to $33.84 billion and $8.01 billion, respectively.
Bitcoin
In the last 24 hours, Bitcoin gained 0.77% to trade at $27,918 as of 07:00 ET. Market dominance grew to 46.4% from 46.3%.
Over the weekend, BTC traded largely above $27,000, peaking at $28,178 on March 26 before correcting to current levels. The digital flagship has seen increased concerns about liquidity levels.
Ethereum
In the past 24 hours, Ethereum fell 0.44% to trade at $1,765 at 07:00 ET. Market dominance fell to 18.6% from 18.7%.
During the reporting period, Ethereum peaked at $1,797 before declining. With the Shanghai upgrade soon to happen, investors have continued to tap into the digital asset.
Top 5 winners
Radicle
RAD is the biggest gainer of the day, rising 36.71% during the reporting period to $2.59 as of press time. The project is holding a poll to clarify the role of the foundation in the wider Radicle ecosystem. The market value was 126.83 million dollars.
insure
SURE rose 22.55% to $0.00812 during the reporting period. The token has risen 220% in the past month. The market value was 217.65 million dollars.
JOE
JOE is up 17.27% to $0.48082 as of press time. The token has risen 90.8% in the past month. The market value was 161.77 million dollars.
Kaspa
KAS gained 12.71% for trading at $0.01920 at the time of writing. Earlier today, the token hit a new all-time high of $0.01964. The market value was 336.86 million dollars.
UMA
UMA rose 9.61% to $2.22167. The market value was 153.18 million dollars.
Top 5 losers
RSK Infrastructure Framework
RIF is the biggest loser of the day, falling 11.3% to trade at $0.14219 at the time of writing. It was unclear why the token was sold. The market value was 135.56 million dollars.
Gitcoin
GTC fell 10.42% to $2.14454 over the reporting period. The project has increased by 16% in the last seven days. The market value was $128.49 million.
MetisDAO
METIS fell 7.05% to $24.5154 at press time. The market value was 109.11 million dollars.
HEX
HEX fell 6.29% to $0.08654. The project’s founder Richard Heart said that PulseChain could launch at any time without warning. The market cap was $15.01 billion.
Beldex
BDX plunged 6.04% to $0.05853. The token had risen by over 58% in the last 30 days. Its market capitalization was $235.24 million.
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