CryptoSlate wMarket Update: Bitcoin recovery in sight as BTC climbs back towards $30,000

Over the last 24 hours, the cryptocurrency market cap saw net inflows of $4.7 billion and currently stands at $1.27 trillion — up 0.4% from $1.27 trillion.

During the reporting period, Bitcoin and Ethereum’s market cap grew 0.1% and 0.8% to $578.6 billion and $251.1 billion, respectively.

The top 10 cryptocurrencies posted gains over the last 24 hours, except Dogecoin — which lost 0.8% in value. Meanwhile, Polkadot leads the top ten, growing 3.6%.

The market cap of Tether (USDT) increased to $81.09 billion. In contrast, USD Coin (USDC) fell to $31.62 billion, while Binance USD (BUSD) stayed flat at $6.66 billion.

Bitcoin

In the last 24 hours, Bitcoin grew 0.1% to trade at $29,897 as of 07:00 ET. Its market dominance fell to 45.5% from 45.7%.

During the reporting period, the Bitcoin sell-off continued until 21:00 yesterday — having found a local bottom at $29,100, the leading cryptocurrency moved higher to top out at $29,975 before retracing slightly.

Ethereum

Over the last 24 hours, Ethereum grew 0.8% to trade at $2,105 as of 07:00 ET. Its market dominance increased to 19.8% from 19.7%.

Since the last wMarket report, Ethereum found support at $2,050, leading to a bounce that tested the approximate $2,110 resistance level on three occasions.

Top 5 Gainers

Radix

XRD is the day’s biggest gainer growing 23.9% over the last 24 hours to $0.10687 as of press time. The token was a top-five gainer yesterday. A recent tweet claimed the uptake of devs learning its Scrypto programming language is rising. Its market cap stood at $1.08 billion.

BLUR

BLUR gained 14.8% to trade at $0.82588 at the time of writing. According to @Crypto_Crib_, Blur paid out more NFT royalties than OpenSea for the first time. Its market cap stood at $364.72 million.

Decentralized Social

DESO rose 14.4% to $14.6320 over the last 24 hours. The project recently teased “Creator Coins v2.” Its market cap stood at $130 million.

Gala

GALA is up 11.5% to $0.04796 as of press time. The project teased gaming updates and teased “leaks” recently. Its market cap stood at $334.61 million.

WEMIX

WEMIX grew 7.6% to $1.25285 during the reporting period. Its market cap stood at $309.78 million.

Top 5 Losers

TEMDAO

TEM is the day’s biggest loser, falling 13.9% to trade at $0.01896 at the time of writing. The project announced its token would be listed on the BTCEX exchange soon. TEM was yesterday’s biggest loser. Its market cap stood at $513.84 million.

FLEX

FLEX declined 7% to $1.53583 over the reporting period. The OPNX exchange opened its affiliate program recently. FLEX was a top-five loser yesterday. Its market cap stood at $151.53 million.

HEX

HEX is down 6.4% to $0.07019 as of press time. The last Twitter post was on February 21. Sister chain PulseChain is set for a v4 testnet soon. Its market cap stood at $12.17 billion.

Rocket Pool

RPL declined 5.5% to $55.8080 over the reporting period. The project completed its Atlas upgrade on April 17. Its market cap stood at $1.08 billion.

Stargate Finance

STG dropped 4.7% to trade at $0.89444. The chain recently exceeded 1 million monthly transactions. Its market cap stood at $155.88 million.

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