Bear pulls crypto market as XRP leads losses

The total cryptocurrency market cap saw net outflows totaling $61.1 billion. As of press time, it stood at $912.6 billion, down 6.3% over the last 24 hours.

Bitcoin’s market cap lost 7.36% over the reporting period to $393 billion from $358.54 billion. Meanwhile, Ethereum’s market cap was down 7.67% to $156.8 billion from $169.83 billion.

The top 10 cryptocurrencies all saw losses over the period, with XRP leading the pack, shedding over 10.58%. Shiba Inu recorded the least loss as it fell 3.9% in the last 24 hours.

The market cap of the top three stablecoins — Tether (USDT), USD Coin (USDC), and BinanceUSD (BUSD) — remained relatively unchanged over the period, standing at $67.96 billion, $49.18 billion, and $21.034 billion, respectively.

Bitcoin

Bitcoin lost 7.4% of its value in the last 24 hours to trade at $18,767 at press time. Market dominance fell from 39.90% to 39.31% over the period.

During the last 24 hours, BTC traded for as high as $20,533 before the bears took control, sending its value below the $19,000 level.

Ethereum

Ethereum fell 7.29% over the last 24 hours to trade at $1,284 as of press time. Market dominance decreased from 17.5% to 17.19%.

ETH traded for as high as $1396 over the last 24 hours before its value rapidly tanked to its current levels. The asset’s price performance has mostly been poor post-merge.

Top 5 Gainers

Polymath Network

POLY is the day’s biggest gainer, rising 11.81% to trade at $0.27693 as of press time. The platform has enjoyed a decent run of green candles in the last seven days, rising 39.66%. Its market cap stood at $256.16 million.

Quant

QNT  is up 10.16% over the last 24 hours to trade at $138.385 as of press time. The token has posted strong performance over the past week, up 38%. Its market cap stood at $1.67 billion.

Reserve Rights

RSR gained 9.24% over the past 24 hours to $0.00847 as of press time. The token has posted 41% gains over the last week. Its market cap stood at $358.5 million.

Wemix

WEMIX rose 5.61 in the last 24 hours to $1.87142 as of press time. The platform’s parent company recently donated 1 billion won to Seoul National University Business School. Its market cap stood at $230.62 million.

COTI 

COTI recorded 1.31% gains over the past 24 hours to trade at around $0.10568 at press time. The decentralized payment network and stablecoin creation protocol has shed 83% over the past year. Its market cap stood at $117.16…