CryptoSlate Daily wMarket Update: Bitcoin dominance spikes to 40-week high

The cryptocurrency market cap saw net inflows of $36.12 billion since the last wMarket report and currently stands at $1.18 trillion – up 3.2% from $1.14 trillion.

Since Friday, the market caps of Bitcoin and Ethereum increased by 5.6% and 2.2% to $544.2 billion and $218.3 billion, respectively.

The top 10 cryptocurrencies recorded a mixed performance over the last 24 hours. Solana leads the pack, up 7.4%, followed by Bitcoin, which posted 4% gains. In contrast, Polygon was the worst performing, down 2.9% over the period.

In the last 24 hours, the market cap of Tether (USDT) increased to $76.38 billion. Meanwhile, USD Coin (USDC) and Binance USD (BUSD) fell to $36.15 billion and $8.2 billion, respectively.

Bitcoin

In the last 24 hours, Bitcoin increased 7% to trade at $28,183 as of 07:00 ET. Its market dominance jumped to 46.3% from 45.3% – a 40-week high.

Since last Friday, Bitcoin rose to $27,847 before edging downwards. By midday Sunday (ET,) buyers spiked the price to $28,485, leading into a sharp dip that found support at $27,226. A strong recovery saw the price return above the previous local top at $28,605.

Ethereum

Over the last 24 hours, Ethereum grew 0.2% to trade at $1,780 as of 07:00 ET. Its market dominance fell to 18.5% from 18.7%.

Since Friday, Ethereum peaked at $1,846 on Saturday morning (ET). Its price printed a cup pattern that retested $1,846 resistance, only to be rejected. The ensuing sell-off found support at $1,745.

Top 5 Gainers

Ren

REN is the day’s biggest gainer, rising 44.5% over the reporting period to $0.13934 as of press time. Its market cap stood at $139.2 million.

OMG Network

OMG gained 32.9% to $2.09731 as of press time. Coinbase announced delisting the token with effect from March 29. Its market cap stood at $294.14 million.

Kaspa

KAS is among the day’s top gainers after increasing 18.5% to $0.01663 at the time of writing. Trading on the Gate.io exchange goes live on March 21. Its market cap stood at $1.45 billion.

Conflux Network

CFX surged 17.5% to $0.45387 as of press time. The token has grown 170.4% over the past month. Its market cap stood at $1.21 billion.

Nervos Network

CKB is up 13.6% to $0.00498 as of press time. The project starts its “Building Connections Through Gaming” event on March 20. Its market cap stood at $199.7 million.

Top 5 Losers

Helium

HNT is the day’s biggest loser, falling 13.3% to trade at $1.36818 at the time of writing. The project announced migrating to the Solana chain, with the date now set for April 18. Its market cap stood at $192.37 million.

FTX Token

FTT plunged 10.8% to $1.38134 over the reporting period. The token experienced a rally last week, gaining 25.9% over the previous seven days. Its market cap stood at $454.32 million.

API3

API3 is down 9.6% to $1.83349. Despite today’s losses, the token is still up 34.1% over the past week. Its market cap stood at $147.02 million.

WEMIX

WEMIX decreased 7.6% to $1.49397 over the reporting period. Its market cap stood at $366.02 million.

Liquity

LQTY fell 6.3% to $2.29883. The token remains up 145.8% over the past 30 days. Its market cap stood at $210.18 million.

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