CryptoSlate wMarket Daily Update: Bitcoin Loses Momentum After Failing to Break $24,000 Resistance


The cryptocurrency market capitalization saw net outflows of around $19 billion in the last 24 hours and currently sits at $1,047.31 billion, down 1.81% from $1,066 billion.

During the reporting period, the market capitalization of Bitcoin and Ethereum fell by 1.29% and 1.55% to $445.8 billion and $193.8 billion, respectively.

The top 10 cryptocurrencies posted losses in the last 24 hours. Polygon tops the list, down 5.2%. Followed by Polkadot and Dogecoin which lost 4.58% and 3.93%, respectively.

CryptoSlate wMarket Update
Source: CryptoSlate.com

Since the last market update, the market capitalization of Tether (USDT) grew to $67.78 billion. On the other hand, the market capitalizations of USD Coin (USDC) and BinanceUSD (BUSD) fell to $43.47 billion and $15.76 billion, respectively.

Bitcoin

Over the past 24 hours, Bitcoin fell 1.47% to trade at $23,097 as of 07:00 ET. Its market dominance grew slightly to 42.5% from 42.4%.

Over the weekend, Bitcoin traded near $24,000, peaking at $23,919 on Jan. 29 before pulling back to its current levels. Flagship digital assets sold off mildly during early trading hours today.

CryptoSlate wMarket Update

BTC Price Performance (Source: Tradingview.com)

Ethereal

Ethereum lost 1.60% in the last 24 hours to trade at $1,583 at 07:00 ET. Its market dominance fell to 18.4% from 18.5%.

ETH’s price action mirrored BTC, trading at a high of $1,653 on Jan. 29 before experiencing a sharp sell-off that lowered its value.

CryptoSlate wMarket Update
ETH price evolution (Source: Tradingview.com)

Top 5 Winners

Everscale

EVER is the biggest gainer of the day, up 89.45% over the reporting period to $0.11 at the close of this edition. Bullish sentiment around the token is currently high, as its DeFi TVL is up 31% in the last 24 hours, according to data from DeFiLlama. Its market capitalization stood at $191.99 million.

dao creator

DAO is up 27.46% in the last 24 hours to $1.18 at press time. The launchpad has started its anniversary campaign and is looking to reduce its supply of tokens by buying them back. Its market capitalization stood at $170.83 million.

Mine

MINA gained 25.84% during the reporting period and was trading for $0.84 at press time. The token has seen its OpenMina node browser concept enjoy more community support. Its market capitalization stood at $695.03 million.

injective

INJ jumped 10.38% to $2.80 at press time. The smart contract-enabled platform recently launched a $150 million fund to boost decentralized finance (DeFi) adoption. Its market capitalization stood at $204.45 million.

syscoin

SYS is up 8.37% in the last 24 hours to $0.17 at press time. The Proof of Work (PoW) token has increased by 70% in the last 30 days. Its market capitalization stood at $128.91 million.

top 5 losers

Alethea Artificial Liquid Intelligence Token

ALI is the biggest loser on the day, down 11.39% over the reporting period to $0.035 at press time. The AI ‚Äč‚Äčtoken was one of the biggest gainers in the last 30 days, up almost 300%. Its market capitalization stood at $128.58 million.

hooked protocol

HOOK fell 11.01% in the last 24 hours to $3.11. The token seems to have lost some of the gains it made in the last seven days when it surged 14%. Its market capitalization stood at $155.78 million.

junction network

CFX decreased 9.76% during the reporting period to $0.059 at the close of this edition. The token experienced a large selloff in the last 24 hours after posting gains last week. Its market capitalization stood at $124.35 billion.

Magic

Magic lost 9.5% in the last 24 hours and was trading at $1.36 at press time. The NFT-related token posted a minimal 3% gain over the past seven days. Its market capitalization stood at $284.24 million.

RLC iExec

RLC continued its poor price performance, falling 8.92% to $1.68 during the reporting period. Its market capitalization stood at $136.89 million.

Published in: Bitcoin, Wrapped

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