Bitcoin falls below $30,000 as outflows exceed $18B

Since the last wMarket report, the cryptocurrency market capitalization has seen net outflows of $18.7 billion and currently stands at $1.27 trillion – down 1.5% from $1.29 trillion.

Over the weekend, Bitcoin and Ethereum’s market capitalization fell 3% and 1.7% to $578.47 billion and $249.99 billion, respectively.

Over the past 24 hours, the top 10 cryptocurrencies have recorded a mixed performance. Solana showed the biggest gains at 4.7%, closely followed by Dogecoin, up 4.6%. Meanwhile, Cardano is bringing up the rear, losing 2% during the reporting period.

The market cap of Tether (USDT) increased to $80.95 billion. Meanwhile, USD Coin (USDC) and Binance USD (BUSD) market caps fell to $31.8 billion and $6.7 billion, respectively.

Bitcoin

In the past 24 hours, Bitcoin fell 1.3% to trade at $29,872 at 07:00 ET. Market dominance fell to 45.7% from 46.4%.

Since Friday, Bitcoin has traded flat before breaking out to a high of $30,560 on Sunday early evening (ET). Another rejection at this price led to a sharp breakout that found support at $29,760.

Ethereum

Over the past 24 hours, Ethereum has gained 0.1% to trade at $2,089 at 07:00 ET. Market dominance fell to 19.7% from 19.8%.

Since the last market report, ETH started to move gradually downwards. But the downward trend broke around 12:00 PM (ET) on Sunday, and peaked at $2,150. Over the following hours, bears took control, dropping the price as low as $2,075.

Top 5 winners

Audio

AUDIO is the biggest gainer of the day and has grown 17.9% in the last 24 hours to $0.39371 as of press time. The project released its latest episode of the Behind the Beats Podcast today. The market value was $392.66 million.

LUXURY

LYXe rose 15.3% to trade at $14.0756 on at the time of writing. LUKSO co-founder Fabian Vogelsteller was featured in a recent podcast discussing the project development. The market value was $217.83 million.

Celer network

CELR rose 12.9% to $0.02692 during the last 24 hours. The project announced the expansion of the cBridge cross-chain facility to include Nexon Finance. The market value was $190.71 million.

Render the token

RNDR is up 12.1% to $1.92530 as of press time. The project was on NFTNYC2023 attendance. The market value was $700.64 million.

Radix

XRD grew 10.1% to $0.08491 during the reporting period. The project announced its attendance at Consensus 2023, Austin, Texas. The market value was $861.8 million.

Top 5 losers

TEMDAO

TEM is the biggest loser of the day, falling 17.8% to trade at $0.02202 at the time of writing. The project announced that the token would soon be listed on the BTCEX exchange. The market value was $596.79 million.

Kaspa

KAS is down 16.6% to $0.02723 as of press time. The Kaspa Rust codebase Alpha release is live. The market value was $489.54 million.

FLEX

FLEX fell 8% to $1.65104 over the reporting period. The OPNX exchange opened its affiliate program recently. Ithe market value was at $162.9 million.

The FTX token

FTT fell 5.1% to trade at $1.81533. Bankruptcy attorneys recently announced the recovery of $7.3 billion in forfeited assets. Ithe market value was at $597.05 million.

Core

CORE was down 3.3% to $1.63753. The market was at $150.98 million.