CryptoSlate wMarket Update: Bitcoin boost delivers market reprieve

Share This Post

The cryptocurrency market cap saw net inflows of $17.9 billion over the last 24 hours and currently stands at $1.18 trillion — up 1.5% from $1.16 trillion.

During the reporting period, Bitcoin (BTC) and Ethereum’s (ETH) market cap grew 2% and 2% to $553.45 billion and $224.66 billion, respectively.

The top 10 cryptocurrencies recorded a mixed performance, with Polygon leading the gainers, up 3%. Meanwhile, XRP fell 1.2% to bring up the rear.

Top 10 cryptocurrencies
Source: CryptoSlate.com

The market cap of Tether (USDT) grew to $81.9 billion. In contrast, USD Coin (USDC) and Binance USD (BUSD) fell to $30.23 billion and $6.09 billion, respectively.

Bitcoin

In the last 24 hours, Bitcoin increased 2% to trade at $28,598 as of 07:00 ET. Its market dominance grew to 47% from 46.7%.

During the reporting period, BTC saw a spike that resulted in a local top of $28,870. It has since been trading flat with sell-side bias, finding support around the $28,450 level.

Bitcoin chart
Source: TradingView.com

Ethereum

Over the last 24 hours, Ethereum grew 2% to trade at $1,865 as of 07:00 ET. Its market dominance increased to 19.1% from 18.9%.

During the reporting period, ETH’s price action closely followed Bitcoin, topping out at $1,882, leading into a pattern ranging between $1,860 and $1,876.

Ethereum chart
Source: TradingView.com

Top 5 Gainers

RSK Infrastructure Framework

RIF is the day’s biggest gainer, growing 38.5% over the last 24 hours to $0.16079 as of press time. The project will host a Twitter Space on May 5 to discuss product lineup and grants, among other topics. Its market cap stood at $154.36 million.

Stacks

STX gained 18.6% to trade at $0.81805 at the time of writing. Its market cap stood at $1.13 billion.

HEX

HEX grew 11.7% over the last 24 hours to $0.05678 as of press time. Daily transactions on the PulseChain testnet reached 367,000. Its market cap stood at $9.85 billion.

Kaspa

KAS gained 9.1% to $0.02610 over the last 24 hours. The token was a top-five loser yesterday and is down 23.1% over the past month. Its market cap stood at $477.57 million.

aelf

ELF rose 8% to $0.30026 as of press time. The project completed its v1.3.1 upgrade last month. Its market cap stood at $183.73 million.

Top 5 Losers

Radicle

RAD is the day’s biggest loser, falling 23.4% to trade at $3.45441 at the time of writing. The project said it is progressing with its Heartwood upgrade. Its market cap stood at $172.13 million.

UMA

UMA dropped 10.3% to trade at $1.12742. Its market cap stood at $148.14 million.

iExec RLC

RLC fell 8.7% to $1.82744 over the reporting period. The project recently posted an article about its V8 upgrade on Medium. Its market cap stood at $148.02 million.

JOE

JOE fell 5.4% to $0.40485 over the reporting period. The project has a presence at the Avalanche Summit, which takes place in Barcelona between May 3-5. Its market cap stood at $136.21 million.

Space ID

ID plunged 5.1% to trade at $0.59107 as of press time. The token is down 23.6% over the past month. Its market cap stood at $179.97 million.

The post CryptoSlate wMarket Update: Bitcoin boost delivers market reprieve appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Bitcoin Price Steadies at $90K: Is Another Rally in Sight?

Bitcoin price extended gains above $90,000 BTC is now consolidating gains near $90,000 and might attempt another increase in the near term Bitcoin extended its increase and traded above the $92,000

Bitcoin Price Could Peak In 200 Days, Before US Recession In Mid-2025, Report Says

The current Bitcoin (BTC) rally could extend until mid-2025, with a potential price peak before a US recession Bitcoin Could Peak In Mid-2025 Before US Recession A recent Copper Research report, a

Peter Brandt Spots Dogecoin-Bitcoin Chart Similarities: Is a Big DOGE Move Brewing?

Veteran trader Peter Brandt sees dogecoin mirroring bitcoin’s 2016 price pattern, signaling a potential rally as technical indicators align and Elon Musk’s influence boosts investor

Bitcoin spot buying outpacing futures despite leverage hitting ATH

Bitcoin (BTC) perpetual contracts denominated in Tether USD (USDT) show signs of overleveraging, with “open interest to USDT reserve ratio” reaching an all-time high at 0593 on Nov 10, according

Ethereum’s Rally Loses Steam: Analyst Foresee A Possible Brief Correction

Negative sentiment is gradually growing in the general crypto market once again, with major digital assets like Ethereum, the second-largest cryptocurrency, witnessing a notable setback that led to

Bitcoin Boom: Expert Eyes $500K BTC, Declares $1M ‘Absolutely’ Within Reach

Bitwise’s Matt Hougan predicts $500,000 as bitcoin’s maturity threshold, with $1 million “absolutely” possible as BTC rises to compete with gold Bitwise’s $500K