CryptoSlate wMarket Update: Continued decline sees crypto market cap sink to $1.16T

Since the last wMarket report on Friday, the cryptocurrency market cap saw net outflows of $27.4 billion and currently stands at $1.16 trillion — down 2.3% from $1.18 trillion.

Since last Friday, Bitcoin and Ethereum’s’ market caps fell 2.1% and 3.6% to $530.74 billion and $222.12 billion, respectively.

Over the last 24 hours, the top 10 cryptocurrencies posted losses except for Litecoin, which bucked the broader market trend — recording 0.7% gains. Meanwhile, Polygon leads the losses, down 3.1% over the period.

The market cap of Tether (USDT) grew to $81.45 billion. In contrast, USD Coin (USDC) and Binance USD (BUSD) fell to $30.78 billion and $6.44 billion, respectively.

Bitcoin

In the last 24 hours, Bitcoin fell 0.4% to trade at $27,424 as of 07:00 ET. Its market dominance grew to 45.8% from 45.7%.

Since last Friday, Bitcoin traded relatively flat until a spike higher topped out at $28,000 on Sunday evening (ET). This was followed by a sharp drop that found support at $27,180.

Ethereum

Over the last 24 hours, Ethereum fell 1.2% to trade at $1,845 as of 07:00 ET. Its market dominance fell to 19.2% from 19.4%.

Since last Friday, Ethereum has followed a similar pattern to Bitcoin. The Sunday evening (ET) spike peaked at $1,890 before trending downwards to form a local bottom at $1,830.

Top 5 Gainers

Bone ShibaSwap

BONE is the day’s biggest gainer growing 11.6% over the last 24 hours to $1.09999 as of press time. OKX will list the token on April 25. Its market cap stood at $252.91 million.

Bitgert

BRISE grew 9.7% over the last 24 hours to $0.000000439553 as of press time. DWF Labs, a market maker and investment firm, now supports Bitgert. Its market cap stood at $174.29 million.

Kaspa

KAS gained 7.7% to trade at $0.02557 at the time of writing. The token will be listed on the Bitget exchange on April 29. Its market cap stood at $463.27 million.

ssv.network

SSV rose 6.8% to $27.4667 over the last 24 hours. The project will host a developer call on April 27. Its market cap stood at $274.67 million.

Bitget Token

BGB is up 4.3% to $0.38738 as of press time. The project is hosting a Twitter space featuring industry experts on April 25. Its market cap stood at $542.34 million.

Top 5 Losers

TemDAO

TEM is the day’s biggest loser, falling 24.9% to trade at $0.00795 at the time of writing. The token is down 93% over the past month. Its market cap stood at $215.58 million.

Celer Network

CELR declined 15.4% to $0.02403 over the reporting period. The cBridge now supports iZi and iUSD tokens. Its market cap stood at $170.29 million.

WOO Network

WOO declined 12% to $0.24793 over the reporting period. Its market cap stood at $417.86 million.

Injective

INJ dropped 10.1% to trade at $6.57468. Despite today’s sell-off, the token still grew 63% over the past 30 days. Its market cap stood at $526.01 million.

Polymesh

POLYX dropped 7.6% to trade at $0.20454. The token was a top-five gainer last Friday after Binance announced node network support. Its market cap stood at $127.32 million.

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