CryptoSlate wMarket Update: Crypto market recovers this week’s losses

The cryptocurrency market cap saw net inflows of $22.6 billion over the last 24 hours and currently stands at $1.20 trillion — up 1.9% from $1.18 trillion.

During the reporting period, Bitcoin (BTC) and Ethereum’s (ETH) market cap grew 2.2% and 2.4% to $566.16 billion and $230.14 billion, respectively.

All of the top 10 cryptocurrencies recorded gains over the last 24 hours. Solana leads the pack, up 3%. Meanwhile, Litecoin managed to stay in the green, having posted a 0.4% increase in value.

The market cap of Tether (USDT) grew to $82.01 billion. In contrast, USD Coin (USDC) and Binance USD (BUSD) fell to $30.18 billion and $5.99 billion, respectively.

Bitcoin

In the last 24 hours, Bitcoin increased 2.2% to trade at $29,238 as of 07:00 ET. Its market dominance grew to 47.2% from 47%.

During the reporting period, BTC saw a double dip that broke through $28,800 resistance by Wednesday evening (ET). Peaking at $29,270, BTC managed to retain most of the gains, leading to another move higher that topped at $29,380 after 06:00.

Ethereum

Over the last 24 hours, Ethereum grew 2.4% to trade at $1,912 as of 07:00 ET. Its market dominance increased to 19.2% from 19.1%.

During the reporting period, ETH tapped the $1,894 resistance level multiple times before breaking through at 18:00 yesterday. The second-largest cryptocurrency was rejected at $1,916, triggering a slight drop into a flat trading pattern — a retest of this level was rejected in the early hours of today.

Top 5 Gainers

HEX

HEX is the day’s biggest gainer, growing 17.1% over the last 24 hours to $0.06652 as of press time. The PulseChain main net is expected to launch soon. Its market cap stood at $11.54 billion.

WOO Network

WOO grew 12.6% over the last 24 hours to $0.29400 as of press time. Its market cap stood at $493.51 million.

Radicle

RAD gained 12.1% to trade at $3.95273 at the time of writing. The project is working on its Heartwood upgrade. Its market cap stood at $196.96 million.

Kaspa

KAS gained 10.9% to $0.02899 over the last 24 hours. The project recently hosted a workshop on the Kaspa protocol. Its market cap stood at $531.12 million.

Conflux Network

CFX rose 8.5% to $0.33264 as of press time. The network’s first DEX, vSwap, launched this month. Its market cap stood at $927.55 million.

Top 5 Losers

Sui

SUI is the day’s biggest loser, falling 69.6% to trade at $1.37294 at the time of writing. The Sui main net launched on May 3. Its market cap stood at $725.29 million.

RSK Infrastructure Framework

RIF dropped 10.7% to trade at $0.14322. The project launched its DeFi use case by region report today. Its market cap stood at $137.5 million.

Core

CORE fell 9% to $1.33332 over the reporting period. The project hosted its Discord and Telegram AMA yesterday. Its market cap stood at $149.28 million.

Radix

XRD fell 6.1% to $0.08552 over the reporting period. Despite today’s sell-off, the token is still up 79.6% over the past month. Its market cap stood at $869.08 million.

WEMIX

WEMIX plunged 4.9% to trade at $1.06573 as of press time. Its market cap stood at $266.31 million.

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