Stagnant market sees Shiba Inu lead top 10

The cryptocurrency market cap saw net outflows of $7.9 billion over the last 24 hours and currently stands at $1.09 trillion — down 0.7% from $1.09 trillion.

During the reporting period, Bitcoin and Ethereum’s market cap fell 1.6% and 0.3% to $457.28 billion and $200.49 billion, respectively.

The top 10 crypto assets posted losses over the reporting period except for Solana, Polkadot, and Shiba Inu, which gained 1.3%, 0.8%, and 1.3%, respectively. In contrast, Dogecoin fared worst, losing 2.1%.

In the last 24 hours, the market cap of Tether (USDT) increased to $70.6 billion. USD Coin (USDC) saw a marginal drop to $42.2 billion, while Binance USD (BUSD) fell  5% to $11.78 billion.

Bitcoin

In the last 24 hours, Bitcoin decreased 1.6% to trade at $23,734 as of 07:00 ET. Its market dominance fell to 42.2% from 42.5%.

During the reporting period, BTC peaked at $24,613 before grinding lower, moving into a sharp spill that found support at $23,626 shortly before 07:00 ET.

Ethereum

Over the last 24 hours, Ethereum lost 0.3% to trade at $1,636 as of 07:00 ET. Its market dominance stayed flat at 18.4%.

ETH’s price performance mirrored BTC — peaking above $1,680 during the reporting period, leading to a sharp sell-off that bottomed at $1,630 just before the cut-off period.

Top 5 Gainers

BinaryX

BNX is the day’s biggest gainer, rising 52.7% over the reporting period to $148.630 as of press time. The project was yesterday’s biggest loser; it recently announced a token swap and revaluation plan. Its market cap stood at $430.04 million.

Alchemy Pay

ACH is up 17.7% to trade at $0.04590 as of press time. The team announced partnering with Conflux Network to work on a hybrid PoS/PoW blockchain. Its market cap stood at $233.28 million.

Stacks

STX increased 15.5% in the last 24 hours to trade at $0.82605 as of press time. The token is up 211% over the past month. A recent report attributed the boost to interest in Bitcoin NFTs. Its market cap stood at $1.12 billion.

ssv.network

SSV jumped 13.7% to $38.0179 as of press time. The token has risen by 117.8% over the past 30 days. Its market cap stood at $380.18 million.

Yearn Finance

YFI gained 14.3% in the last 24 hours to trade at $9,215.64. Its market cap stood at $337.64 million.

Top 5 Losers

Filecoin

FIL is the day’s biggest loser, falling 8.4% to $7.758 as of press time. Despite today’s sell-off, the token is still up 58.8% over the past month. Its market cap stood at $3.04 billion.

Synapse

SYN shed 6.7% in the last 24 hours to trade at $1.55841. Its market cap stood at $217.82 million.

Voyager Token

VGX lost 5.1% to trade at $0.48584 at the time of writing. The platform agreed with FTX to settle an outstanding $445 million loan. Its market cap stood at $135.3 million.

Internet Computer

ICP fell 4.3% to $6.64119 over the reporting period. Its market cap stood at $1.93 billion.

Klaytn

KLAY dumped 3.9% to $0.29890 in the last 24 hours. The project announced an additional 300 million token airdrop. Its market cap stood at $918.78 million.