Over the reporting period, the cryptocurrency market cap saw minor inflows of around $6 billion as the industry rose to $841.76 billion as of press time — up 0.72%.
Bitcoin and Ethereum’s market cap increased by 0.36% and 0.83% to $321.82 billion and $153.89 billion, respectively.
Most of the top 10 cryptocurrencies posted minor gains over the reporting period, with Solana leading the recovery, rising by over 3% as of press time. BTC and ETH recorded slight increases of 0.44% and 1.09%, respectively. XRP and SHIB posted losses of 0.56% and 1.83%, respectively.
The market caps of USD Coin (USDC) and BinanceUSD (BUSD) slightly increased to $44.07 billion and $23.25 billion, respectively. Tether’s (USDT) market cap decreased to $66.3 billion.
Bitcoin
Over the last 24 hours, Bitcoin posted a minor gain of 0.44% to trade at $16,754 as of 07:00 ET. Its market dominance increased to 38.3% over the reporting period.
BTC mostly traded sideways over the weekend. In the last 24 hours, it traded for as low as $15,872 before surging to around $16,750. Meanwhile, CryptoSlate research stated that Bitcoin investors have continued accumulating the asset despite FTX’s implosion.
Ethereum
ETH gained 1.09% in the last 24 hours, trading for $1,255 as of 07:00 ET. Its market dominance rose to 18.3%.
Like BTC, ETH mostly traded sideways over the weekend, bottoming at around $1,210. In the last 24 hours, ETH printed a huge green candle that pushed its value to around $1,250 as of press time.
Top 5 Gainers
Trust Wallet Token
TWT is the day’s biggest gainer, growing by 51.45% to $2.42 as of press time. The Trust Wallet utility token enjoyed enormous patronage following Changpeng Zhao’s tweet on self-custody. Its market cap stood at $1.03 billion.
KuCoin Token
KCS rose by 19.4% to $7.98 in the last 24 hours. The native token of the KuCoin exchange is one of the numerous exchange-linked tokens under the spotlight following FTX’s collapse. Its market cap stood at $785.55 million.
Convex Finance
CVX recorded gains of 17.76% over the reporting period to trade at $4.32 as of press time. The DeFi token has shed over 17% of its value over the last seven days. Its market cap stood at $304.71 million.
Axie Infinity
AXS is up 15.39% to trade at $7.30 as of press time. It was unclear why the token was rising. Its market cap stood at $702.88 million.
Mdex
MDX’s value grew 14.05% to…
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