Another Red Day Sees Bitcoin Lose $28,000

Over the last 24 hours, the cryptocurrency market cap saw net outflows of $29.6 billion and currently stands at $1.18 trillion — down 2.4% from $1.22 trillion.

During the reporting period, Bitcoin and Ethereum’s’ market caps fell 3% and 2.1% to $541.93 billion and $230.35 billion, respectively.

The top 10 cryptocurrencies posted losses except for BNB, which managed to stay green with 1.3% gains over the last day. Meanwhile, Dogecoin suffered the biggest losses, down 8.7%.

The market cap of Tether (USDT) grew to $81.42 billion. In contrast, USD Coin (USDC) and Binance USD (BUSD) fell to $30.99 billion and $6.58 billion, respectively.

Bitcoin

In the last 24 hours, Bitcoin fell 3% to trade at $27,995 as of 07:00 ET. Its market dominance fell to 45.7% from 46%.

Over the reporting period, Bitcoin trended downwards to find support at $27,820 around 03:00 (ET). The ensuing bounce topped out at $28,250, leading to a flat pattern since.

Ethereum

Over the last 24 hours, Ethereum fell 2.1% to trade at $1,913 as of 07:00 ET. Its market dominance stayed flat at 19.4%.

Ethereum’s price movements mirrored that of Bitcoin, finding support at $1,906 during the early hours of today. The recovery peaked at $1,915, leading to a flat print.

Ethereum chart — Source: TradingView.com

Top 5 Gainers

Polymath Network

POLY is the day’s biggest gainer growing 18.6% over the last 24 hours to $0.21994 as of press time. The project recently announced joining the Canadian Association of Alternative Strategies and Assets (CAASA). Its market cap stood at $203.45 million.

Polymesh

POLYX gained 15.6% to trade at $0.24983 at the time of writing. Binance joined the Polymesh network as a node operator. Its market cap stood at $153.58 million.

Decentralized Social

DESO rose 13.4% to $14.3608 over the last 24 hours. The project announced a campaign to fight AI scams and deep fakes. Its market cap stood at $127.59 million.

DeXe

DEXE is up 9.6% to $3.28107 as of press time. Core contributor Dmitro KoltiarovIts is scheduled for live AMA today. Its market cap stood at $119.67 million.

Zilliqa

ZIL grew 7.8% to $0.03360 during the reporting period. The token was a top-five loser yesterday. Its market cap stood at $533.16 million.

Top 5 Losers

Radix

XRD is the day’s biggest loser, falling 21.8% to trade at $0.08948 at the time of writing. Despite today’s sell-off, the token is still up 125.8% over the past 30 days. Its market cap stood at $908.44 million.