CryptoSlate wMarket Update: Bitcoin maintains $27K amid rising network fees

In the last 24 hours, the cryptocurrency market cap saw net outflows of around $20 billion and currently stands at $1.14 trillion — down 1.16% from $1.16 trillion.

During the period, Bitcoin (BTC) and Ethereum’s (ETH) market cap fell 1.31% and 0.85% to $534.37 billion and $221.6 billion, respectively.

Except for Tron, the top 10 cryptocurrencies recorded losses over the last 24 hours. Polygon, Solana, and Polkadot were the biggest losers, falling more than 2%, respectively.

The market cap of Tether (USDT) grew to $82.39 billion. In contrast, USD Coin (USDC) and Binance USD (BUSD) fell to $30.24 billion and $5.97 billion, respectively.

Bitcoin

In the last 24 hours, Bitcoin fell 1.24% to trade at $27,609 as of 07:00 ET. Its market dominance remained flat at 46.9%.

During the reporting period, BTC continued to trade around $27,000 amid concerns over its rising network fees. The asset bottomed at $27,310.

Ethereum

Over the last 24 hours, Ethereum declined 2.43% to trade at $1,858 as of 07:00 ET. Its market dominance rose to 19.4%.

ETH mirrored BTC price performance, peaking at $1876 during the reporting period.

Top 5 Gainers

Bitcoin SV

BSV is the day’s biggest gainer, growing 32.26% over the last 24 hours to $0.17221 as of press time. The blockchain network has seen its native token rise amid the rising concerns over BTC’s network congestion issues. Its market cap stood at $779.01 million.

Bitget Token

BGB rose 17.42% to $0.46661 as of press time. The exchange token has been up 18% over the last seven days. Its market cap stood at $653.26 million.

tomiNET

TOMI is on the top gainers’ list for the second consecutive day. It grew 14.33% over the last 24 hours to $4.11 as of press time. Its market cap stood at $163.16 million.

Kava

RAD gained 8.28% to trade at $0.77 at the time of writing. Its market cap stood at $394.63 million.

Lido Dao Token

LDO gained 8.2% to $1.87 over the last 24 hours. Its market cap stood at $1.65 billion.

Top 5 Losers

RSK Infrastructure Framework

RIF is the day’s biggest loser, falling 18.81% to trade at $0.13 at the time of writing. Its market cap stood at $136.22 million.

Radicle

RAD dropped 16.4% to trade at $2.62. Despite today’s drawdown, the token has increased more than 40% over the past month. Its market cap stood at $130.56 million.

Pepe

PEPE plunged 15.15% to trade at $0.0000019 as of press time. The high-flying memecoin is experiencing heavy sell-off as investors begin to take profit. Its market cap stood at $772.25 million.

WOO Network

WOO fell 14.71% to $0.22 over the reporting period. Its market cap stood at $385.38 million.

Core

CORE lost 13.2% to $0.90 over the reporting period. The EVM-Compatible blockchain has shed over 40% in the last 30 days. Its market cap stood at $100.6 million.

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