CryptoSlate wMarket Update: XRP leads large caps as market recovers recent losses

The cryptocurrency market saw net inflows of $17.1 billion over the last 24 hours and currently stands at $1.14 trillion — up 1.5% from $1.12 trillion.

During the reporting period, the Bitcoin (BTC) and Ethereum (ETH) market caps grew 1.8% and 1.2% to $529.94 billion and $219.63 billion, respectively.

The top 10 crypto assets recorded gains over the last 24 hours. XRP leads the pack, up 3.7%, due to positive developments in the SEC lawsuit and acquisition of custody firm Metaco. Litecoin posted the most minor gains, up 0.5%.

The market cap of Tether (USDT) grew to $82.85 billion. In contrast, USD Coin (USDC) and Binance USD (BUSD) fell to $29.49 billion, and $5.54 billion, respectively.

Bitcoin

In the last 24 hours, Bitcoin grew 1.8% to trade at $27,350 as of 07:00 ET. Its market dominance increased to 46.5% from 46.4%.

During the reporting period, BTC increased to top out at $27,500. Bitcoin bulls retained most of the gains, defending $27,160 to set off another uptrend in the early hours (ET).

Ethereum

In the last 24 hours, Ethereum increased 1.2% to trade at $1,826 as of 07:00 ET. Its market dominance stayed flat at 19.3%.

Over the reporting period, ETH price action followed a similar pattern to Bitcoin, peaking at $1,835 by early evening Wednesday. A slight dip bounced at $1,815, triggering a move higher that met resistance at $1,832.

Top 5 Gainers

RenderToken

RNDR is the day’s biggest gainer, growing 17.5% over the last 24 hours to $2.34706 as of press time. Its market cap stood at $854.12 million.

Cocos-BCX

COCOS grew 16.8% over the last 24 hours to $1.63858 as of press time. Binance will support the upcoming token swap and rebrand to COMBO. Its market cap stood at $116.42 million.

TomoChain

TOMO rose 16.5% to $1.04347 as of press time. The project will attend Web3 Berlin on June 10-11. Its market cap stood at $105.35 million.

Cartesi

CTSI jumped 16.2% to $0.19932 over the last 24 hours. Cartesi hosted a panel discussion with other Ethereum ecosystem projects on May 17. Its market cap stood at $144.18 million.

ssv.network

SSV gained 11.9% to trade at $23.8130 at the time of writing. The project announced partnering with Unamano for ETH staking applications. Its market cap stood at $238.13 million.

Top 5 Losers

Axie Infinity

AXS is the day’s biggest loser falling 6.1% to $7.21966 at the time of press. Axie Infinity was a top gainer yesterday after the game was listed on the Apple App Store. Its market cap stood at $844.39 million.

Axelar

AXL dropped 5% to trade at $0.49379. Axelar co-founder Sergey Gorbunov appeared on the Bankless Podcast recently. Its market cap stood at $129.48 million.

Gala

GALA sunk 3.9% to $0.03268 as of press time. The project recently migrated to a new contract address. Its market cap stood at $228 million.

Bitgert

BRISE lost 2.9% to $0.000000349444 over the reporting period. The project is set to release a Web3 real estate marketplace. Its market cap stood at $139.44 million.

Toncoin

TON fell 1.8% to $1.95648 over the reporting period. The Toncoin Hackathon will take place on May 27. Its market cap stood at $2.39 billion.

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