Litecoin leads flat market as outflows persist: CryptoSlate wMarket Update

On Jun 1, 2023

The cryptocurrency market saw net outflows of $3.8 billion over the last 24 hours and currently stands at $1.13 trillion — down 0.3% from $1.14 trillion.

During the reporting period, the market caps of Bitcoin (BTC) and Ethereum (ETH) fell 0.7% and 0.3% to $521.18 billion and $223.78 billion, respectively.

Over the last 24 hours, the top 10 cryptocurrencies recorded a mixed performance. Litecoin posted the most significant gains, up 4%, fueled by halving hype and on-chain metrics showing an increase in trading volume. While Cardano bought up the rear, losing 3.3% in value.

Tether’s market cap (USDT) grew to $83.23 billion. In contrast, USD Coin (USDC) and Binance USD (BUSD) fell to $28.87 billion and $5.20 billion, respectively.

Bitcoin

Bitcoin decreased by 0.7% to trade at $26,869 as of 07:00 ET. Its market dominance fell to 46.1% from 46.2%.

Over the last 24 hours, a push higher topped out at $27,340 by Wednesday evening – triggering a spill lower to find support at $26,610. Into Thursday, BTC has been edging upwards over the morning.

Ethereum

In the last 24 hours, Ethereum lost 0.3% to trade at $1,861 as of 07:00 ET. Its market dominance stayed flat at 19.8%.

During the reporting period, ETH saw a peak price of $1,888 by Wednesday evening, leading to a drawdown that bounced at the $1,840 level. ETH has since been trickling higher.

Ethereum chart — Source: TradingView.com

Top 5 Gainers

ARAW

ARAW is the day’s biggest gainer, growing 54.3% over the last 24 hours to $0.14755 as of press time. The token is up 200% over the past seven days. Its market cap stood at $294.15 million.

Escroco Emerald

ESCE gained 71.2% to trade at $0.24951 at the time of writing. Its market cap stood at $249.51 million.

Cannation

CNNC grew 58.5% over the last 24 hours to $94.1531 as of press time. Its market cap stood at $233.21 million.

FantasyGold

FGC jumped 41.6% to $12.0040 over the last 24 hours. Its market cap stood at $1.68 billion.

XinFin

XDC rose 22.8% to $0.03933 as of press time. The project celebrates its four-year mainnet anniversary today. Its market cap stood at $544.3 million.

Top 5 Losers

GateToken

GT is the day’s biggest loser, falling 7.5% to $4.45723 at the time of press. Gate.io denied being impacted by the fallout from Multichain’s CEO going missing. Its market cap stood at $435.96 million.

Flux

FLUX fell 6.6% to $0.52376 over the reporting period. The team said Project Mayhem, a generative AI detector, is coming soon. Its market cap stood at $155.6 million.

tomiNET

TOMI sunk 6.3% to $4.17574 as of press time. tomi will be hosting The Nakamoto Forum gathering in Marrakech, Morocco. Its market cap stood at $165.54 million.