CryptoSlate Daily wMarket Update: Ethereum posts 9 week high to lead the top 10 cryptos Samuel Wan · 10 mins ago · 3 min read
The wMarket Update condenses the most important price movements in the crypto markets over the reporting period, published 07:45 ET on weekdays.
Cover art/illustration via CryptoSlate
The cryptocurrency market cap saw net inflows of $27.32 billion over the last 24 hours and currently stands at $885.04 billion — up 3.2% from $857.72 billion.
Bitcoin’s market cap increased by 4.4% to $350.53 billion from $335.83 billion, while Ethereum’s market cap grew 4.7% to $171.06 billion from $163.4 billion over the reporting period.
In the last 24 hours, the top 10 cryptocurrencies all recorded gains, with Ethereum leading the pack with a 4.7% increase in value. Bitcoin placed second, recording 4.4% gains. Solana occupies the last position today, growing just 0.4%.
Since the last report, the market caps of Tether (USDT) and BinanceUSD (BUSD) saw a decrease to $66.27 billion and $16.37 billion, respectively. By contrast, USD Coin (USDC) recorded an increase to $43.97 billion.
Over the last 24 hours, Bitcoin grew 4.4% to trade at $18,199 as of 07:00 ET. Its market dominance grew slightly to 39.6% from 39.2%.
Bulls spiked the leading cryptocurrency higher on Wednesday evening (ET), resulting in a peak price of $18,736 – a four-week high.
Ethereum grew 4.7% over the last 24 hours to trade at $1,398 as of 07:00 ET. Its market dominance grew to 19.3% from 19.1%.
Over the last 24 hours, ETH recorded a peak price of $1,419 on Wednesday evening (ET) – this equated to a nine-week high for the second-largest cryptocurrency.
Top 5 Gainers
AVAX is today’s top gainer, rising by 21.5% over the last 24 hours to $15.1719 as of press time. The project has partnered with Amazon Web Services to scale business and government blockchain solutions. Its market cap stood at $4.73 billion.
FTT rose by 15.5% to trade at $1.38216 as of press time. Former CEO Sam Bankman-Fried recently tweeted details of a recovery scenario. Its market cap stood at $454.58 million.
WAVES gained 11.4% over the reporting period to trade at $1.75110 as of press time. The token is up 26.7% over the past month. Its market cap stood at $193.26 million.
NEAR grew 11% in the last 24 hours to $1.77145. Its market cap stood at $1.5 billion.
ONE rose 9% to $0.01339 as of press time. The token grew 26.7% over the past week. Its market cap stood at $174.35 million.
Top 5 Losers
USDN is the day’s biggest loser, falling 14.2% to $0.38273 as of press time. The WAVES-backed algorithmic stablecoin depegged from its $1 price last summer. Its market cap stood at $260.36 million.
VGX decreased 11.2% to $0.36437 as of press time. The token was among the top gainers yesterday due to court approval of the Binance buyout. Its market cap stood at $101.47 million.
BSV shed 7.8% over the reporting period to trade at $40.9325 as of press time. Robinhood delisted the token effective Jan. 25. Its market cap stood at $788.61 million.
RLC dropped 7.7% over the reporting period to $1.37798. Its market cap stood at $111.62 million.
BNX declined 6.6% to $71.7780 in the last 24 hours. Its market cap stood at $205.14 million.