Daily Crypto Market Update – BNB Recovers Weekend Losses Following a 3.6% Growth
The crypto market has shed over $27 billion of its valuation in the last 24 hours. The total cap stands at $1.17 trillion as of Monday evening. The market capitalizations of Bitcoin and Ethereum dropped by 2.6% and 3.3% to $553.01 billion and $222.31 billion, respectively.
Except for BNB, the other top ten cryptocurrencies lost the gains realized over the last few days. Solana is the biggest loser following losses of 6.1% to trade at $22.08. Polkadot comes in second with a 4% drop to change hands for $5.79. By contrast, BNB is up 3.6% to $333.35. The native token of crypto exchange Binance has seen 7-day gains of 1.4%.
USDT’s market valuation has grown slightly to $81.76 billion. Meanwhile, its closest rivals, USDC and BUSD, have seen their market capitalizations drop to $30.48 billion and $6.17 billion, respectively.
Bitcoin
BTC currently trades at $28,467 after shedding 2.9% of its value in the last 24 hours. Its crypto market share stands at 46.9%, down from 47.1%. Just yesterday, Bitcoin traded above $29,900 but has since been on a downtrend, touching a daily low of $28,214 on Monday noon.
ETH has recorded a 24-hour decline of 3.2% to trade at $1,847 as of this writing. The token’s market dominance dropped to 18.7%. Like Bitcoin, Ethereum rallied massively yesterday but failed to touch the $2,000 mark as per crypto analysts’ expectations.
Top Five Gainers
Radicle: RAD surged 16.8% in the last 24 hours, becoming the biggest gainer. The project announced over the weekend that its Heartwood protocol, meant to improve performance and enhance privacy, was under development. RAD is trading at $2.62 with a market cap of $130.58 million.
Cartesi: CTSI is trading at $0.236 following gains of 10.7%. Its market valuation stands at $174.97 million.
Link: LN is up 6.6% in the past day. It now trades at $41.65, and its market cap is $280.49 million.
ConsitutionDAO: PEOPLE rallied to $0.0222 following gains of 5.8%. Its market valuation also grew to $114.88 million. The project recently revealed it failed to buy the US Constitution in 2021.
OAX: The crypto asset is changing hands for $0.34 after surging by 5.6%. OAX’s market capitalization is $29.8 million.
Top Five Losers
MX Token: MX becomes the biggest loser after declining by 8.9% to $2.31 as of Monday evening. Its market cap stands at $231.47 million.
FTX Token: FTT is down 8.3% and now trades at $0.053. The FTX Japanese subsidiary announced it would reopen its business soon. FTT’s market valuation has dropped to $482.42 million.
JOE: The token has declined by 7.9% to $0.45. The market capitalization of JOE stands at $152.7 million.
BLUR: The crypto asset is priced at $0.67 following a 7.4% drop. BLUR’s market cap has fallen to $308.37 million.
Space ID: This project recently launched an identity protocol called ‘.sei.’ ID has a market cap of $185.14 million and trades at $0.608 after posting a 7.1% 24-hour loss.
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