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05/19/2023

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CryptoSlate wMarket Update: HEX defies wider market downturn to lead top gainers

CryptoSlate wMarket Update: HEX defies wider market downturn to lead top gainers 16 mins ago · 3 min read The wMarket Update condenses the most important price movements in the crypto markets over the...

CryptoSlate wMarket Update: HEX defies wider market downturn to lead top gainers

CryptoSlate wMarket Update: HEX defies wider market downturn to lead top gainers CryptoSlate wMarket Update: HEX defies wider market downturn to lead top gainers 16 mins ago · 3 min read

The wMarket Update condenses the most important price movements in the crypto markets over the reporting period, published 07:45 ET on weekdays.

3 min read

Updated: May 19, 2023 at 12:28 pm

CryptoSlate wMarket Update: HEX defies wider market downturn to lead top gainers

Cover art/illustration via CryptoSlate

The cryptocurrency market saw net outflows of $12.3 billion over the last 24 hours and currently stands at $1.12 trillion — down 1.1% from $1.14 trillion.

During the reporting period, the Bitcoin (BTC) and Ethereum (ETH) market caps fell 1.9% and 1% to $520.18 billion and $217.56 billion, respectively.

The top 10 crypto assets recorded losses over the last 24 hours except for XRP, which saw strong momentum this week from positive news related to the SEC lawsuit and the acquisition of Metaco. Today’s biggest loser is Cardano, dropping 2.3%.

Top 10 cryptocurrencies
Source: CryptoSlate.com

The market caps of Tether (USDT) and USD Coin (USDC) grew to $82.85 billion and $29.58 billion, respectively — whereas Binance USD (BUSD) stayed flat at $5.54 billion.

Bitcoin

In the last 24 hours, Bitcoin fell 1.9% to trade at $26,853 as of 07:00 ET. Its market dominance decreased to 46.3% from 46.5%.

During the reporting period, BTC saw a peak price of $27,480 before trending down, leading to a sharp spill that bottomed at $26,370. A muted recovery topped out at $27,090, followed by a flat-ranging pattern.

Bitcoin chart
Source: TradingView.com

Ethereum

In the last 24 hours, Ethereum decreased 1% to trade at $1,809 as of 07:00 ET. Its market dominance rose to 19.4% from 19.3%.

Over the reporting period, ETH saw a sell-off that found support at $1,774 at Thursday lunchtime (ET). A strong bounce followed to top out at $1,822, leading to a minor spill and then a flat print from yesterday evening onwards.

Ethereum chart
Source: TradingView.com

Top 5 Gainers

HEX

HEX is the day’s biggest gainer, growing 10.1% over the last 24 hours to $0.03227 as of press time. The recent launch of PulseChain saw multiple events and milestones, including billions of tokens burned and daily volume exceeding $100 million. Its market cap stood at $5.6 billion.

Injective

INJ rose 5.6% to $6.95521 as of press time. The project is joining the Wormhole cross-chain ecosystem. Its market cap stood at $556.46 million.

Polymesh

POLYX jumped 5.1% to $0.16686 over the last 24 hours. Binance said it would be operating a Polymesh node. Its market cap stood at $106.13 million.

Cocos-BCX

COCOS grew 4.4% over the last 24 hours to $1.70749 as of press time. The project has rebranded to COMBO. Its market cap stood at $121.32 million.

Bitget Token

BGB gained 3.9% to trade at $0.47792 at the time of writing. The Bitget exchange released its Q1 Transparency Report. Its market cap stood at $669.09 million.

Top 5 Losers

Kaspa

KAS is the day’s biggest loser falling 18.4% to $0.01568 at the time of press. The project said it would translate its Kaspium mobile wallet into other languages. Its market cap stood at $291.87 million.

JOE

JOE dropped 6.9% to trade at $0.36854. The project is set to release new collectibles, rewards, and mints. Its market cap stood at $123.99 million.

Bitgert

BRISE lost 6% to $0.000000329416 over the reporting period. The token was a top-five loser yesterday. Its market cap stood at $130.71 million.

Optimism

OP sunk 5.7% to $1.70332 as of press time. Like Injective, Optimism is a member of the Wormhole cross-chain ecosystem. Its market cap stood at $571.25 million.

Pepe

PEPE fell 5% to $0.00000152 over the reporting period. The Bithumb exchange listed Pepe on Thursday. Its market cap stood at $593.92 million.

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