Daily Crypto Market Update – High Market Volatility Puts Top Ten Cryptocurrencies in the Red
The cryptocurrency market has lost $10.2 billion to net outflows in the last 24 hours. The total valuation is currently at $1.19 trillion. The market capitalizations of Bitcoin and Ethereum fell by 0.44% and 1.23% to $563.16 billion and $227.39 billion, respectively.
After rallying on Wednesday, the top ten crypto assets by market capitalization have posted price drops in the last 24 hours. Polygon is the top loser after declining by 5.3% to trade at $0.99. Solana comes in second with losses of 5.1%. It’s trading at $21.64 as of this writing.
USDT’s market capitalization has grown further to $81.62 billion following 24-hour net inflows of $267 million. Meanwhile, the market valuations of USDC and BUSD fell to $30.72 billion and $6.29 billion after posting net outflows of $101.34 million and $218.35 million, respectively.
Bitcoin
BTC is down 2.6% to change hands for $28,919 at press time. The coin dominates 47.1% of the market, up from 46.5%. The Bitcoin price drop was triggered by rumors that fallen crypto exchange Mt.Gox was selling the crypto asset.
It initially touched a daily low of $27,679 before recovering to settle at the current price.
ETH is trading at $1,887 after recording a 24-hour drop of 3.1%. Its market dominance is down to 19.1%. The token almost touched the $2,000 mark before dropping sharply to a daily low of $1,791.
The bears may be aiming to pull ETH down to a support level of $1,850.
Top Five Gainers
RSK Infrastructure Framework: RIF becomes Thursday’s top gainer after increasing by 12.67%. The crypto asset is now trading at $0.139 with a market capitalization of $134.09 million. RIF is down 11% in the last 30 days.
MultiversX: EGLD is up 11.74% in the last 24 hours. It’s changing hands for $45.43 as of Thursday evening. The token has seen 7-day gains of 13.1% and has a market valuation of $1.16 billion.
inSure: SURE is trading at $0.0062 after surging 10.71% in the past day. However, the crypto asset is still down 21.4% in the last 30 days. Its market valuation increased to $167.59 million.
Kaspa: KAS gained 9.67% to trade at $0.03 as of this writing. The coin has posted 30-day gains of 10.2%. It now has a market cap of $545.46 million.
Injective: INJ becomes one of today’s top gainers, having surged 8.9% to trade at $8.15 as of Thursday evening. The token’s market valuation stands at $713.12 million.
Top Five Losers
tomiNET: TOMI has fallen by 17.67% to $2.985. But despite Thursday’s decline, the privacy token has been up 31% in the previous 30 days. Its market capitalization stands at $118.34 million.
Hex: The crypto asset has dropped by 6.72% to $0.0058. Its market valuation also took a hit, declining to $9.97 billion.s
ssv.network: SSV is priced at $0.238 following a 24-hour drop of 6.48%. Nonetheless, the token has recorded 1-year gains of over 100%. Its market cap stands at $264.41 million.
Solar: SXP is down 6.14% in the last 24 hours. It’s now changing hands for $0.571 with a market cap of $321.4 million.
Threshold: The ERC-20 token has shed 5.82% of its value to be priced at $0.031 as of Thursday evening. Threshold has been in free fall over the last 30 days, declining by more than 31.3%. Its market cap stands at $272.97 million.
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