Markets turn red as FTT dumps amid rumors of liquidity issues

In the past 24 hours, the cryptocurrency market capitalization saw net outflows of $48.79 billion to $971.29, from $1,028.2 billion at press time – down by 4.79%.

Bitcoin’s market cap fell 5.03% to $378.86 billion from $398.3 billion. Ethereum’s market capitalization also fell by 6.29% to $181.53 billion from $193.3 billion.

In the past 24 hours, the top 10 cryptocurrencies have all recorded losses. Solana and Dogecoin lead the losses, posting declines of more than 10% respectively during the reporting period. BTC recorded a loss of 5.09%, while ETH fell 6.26%

The market caps of Tether (USDT) and BinanceUSD (BUSD) remained largely flat at $69.4 billion and $22.5 billion, respectively. The USD Coin (USDC) saw an increase to $43.15 billion.

Bitcoin

Over the past 24 hours, Bitcoin posted losses of 5.09% to $19,698 as of 7:00 a.m. ET. Its market dominance fell from 38.77% to 38.66%.

BTC peaked at $20,882 in the past 24 hours and hit a low of $19,448, according to data from CryptoSlate.

CryptoSlate wMarket Update
24-hour BTC price performance (Source: Tradingview)

Ethereum

In the past 24 hours, Ethereum is down 6.26% to $1,480 as of 7:00 a.m. ET. Its market dominance has also declined to 18.58 from 18.8% at press time.

ETH lost its $1,500 support around 21:00 UTC. The second-largest digital asset peaked at $1,604 and bottomed at $1,443.

CryptoSlate wMarket Update
24-hour ETH price performance (Source: Tradingview)

Top 5 winners

Reef

REEF is the day’s biggest gainer, up 20.23% at $$0.00602 at press time. The liquidity aggregator is up over 13% in the past seven days. Its market cap was $123.32 million.

Decentralized social

DESO is among the top gainers of the day, rising 13.3% in the past 24 hours to hit $15.12. The decentralized social network saw increased interest following the purchase of Twitter by Elon Musk, its market capitalization stood at $131.82 million.

DeXe

DEXE rose 8.72% to $3.28 at press time. The native token of the social trading platform has gained over 9% in the past 30 days. Its market cap was $119.95 million.

A star

ASTR is up 6.04% in the past 24 hours to trade at $$0.04845 at press time. The token has been on a green track since its introduction on Binance.US, rising over 30% in the past month. Its market cap was $179.31 million.

Chain link

LINK has seen gains of 6.47% in the past 24 hours, peaking above $9.20. Santiment reported that traders are massively yearning for the asset as he has seen many active addresses recently. Its market cap was $4.31 billion.

Top 5 losers

Hash stream

HFT is the biggest loser of the day, losing over 64% in the past 24 hours at $0.898. It was unclear why the token fell as it was recently listed on Binance. Its market cap was $157.45 million.

FTX Token

FTT continues its poor price performance, losing around 24% of its value in the last 24 hours. The token is currently in the eye of the storm, following Binance’s decision to liquidate its position. Its market cap was $2.26 billion.

RenderToken

The RNDR fell 22.6% to trade at $0.706 at press time. Its market cap was $179.21 million.

Mdex

MDX plunged 18.87% to $0.10388 in the last 24 hours. The DEX MA has increased by 99.5% over the past month. Its market capitalization stood at $96.07 million.

Network of masks

MASK has lost 16.9% of its value and is currently trading at $3.68 at press time. Its market capitalization was $$107.5 million.

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