CryptoSlate Daily wMarket Update: Market sentiment green in anticipation of Fed rate hike

The cryptocurrency market cap saw a net inflow of around $10.72 billion over the last 24 hours and currently stands at $1.05 trillion — up 0.51% from $1.04 trillion.

Over the reporting period, Bitcoin and Ethereum’s market cap increased by 0.97% and 0.64% to $445.36  billion and $193.57 billion, respectively.

The top 10 crypto assets had a mixed price performance in the last 24 hours. Litecoin and Cardano recorded the highest gains of over 2%, respectively. On the other hand, Polkadot, Solana, and BNB posted losses of less than 1%, respectively.

Over the last 24 hours, the market caps of Tether (USDT) and USD Coin (USDC) fell to $67.80 billion and $42.31 billion, respectively. In contrast, the market cap of BinanceUSD (BUSD) marginally increased to $16.10 billion.

Bitcoin

Over the last 24 hours, Bitcoin gained 0.92% to trade at $23,088 as of 07:00 ET. Its market dominance rose to 42.5% from 42.4%.

During the reporting period, Bitcoin reclaimed the $23,000 level around 18:00 (UTC -5) on Jan. 31, peaking at $23,139. The flagship digital asset continued to trade sideways during the rest of the day.

Ethereum

Ethereum grew 0.67% over the last 24 hours to trade at $1,581 as of 07:00 ET. Its market dominance remained flat at 18.5%.

ETH could not breach the resistance at the $1600 level after trading at the peak of $1598 over the reporting period.

Top 5 Gainers

Library Credits

LBC is the day’s biggest gainer, rising by 87.12% over the reporting period to $0.027 as of press time. The content creation token recently scored a minor win against the SEC as a judge ruled that its secondary sales did not constitute securities. Its market cap stood at $17.77 million.

Wrapped Everscale

The wrapped version of Everscale, WEVER, continues its green run. It increased by 60.48% to $0.16 as of press time. It was unclear why the token rose as its related token experienced a heavy sell-off over the reporting period. Its market cap stood at $285.01 million.

Status

SNT grew 39.25% to $0.035 as of press time. The token rose by over 80% in the last 30 days. Its market cap stood at $138.64 million.

Bitgert

BRISE posted 36.19% gains and exchanged hands for $0.00000055 as of press time. The Binance Smart Chain-based crypto application is scheduled to burn $2.8 million worth of the tokens on Feb. 3. Its market cap stood at $218.32 million.

dYdX

DYDX is up 27.52% to $3.00 as of press time. The DEX token has seen improved price performance since its foundation released a bullish report about its ecosystem. Its market cap stood at $469.65 million.

Top 5 Losers

Everscale

After days of consecutive gains, EVER is the day’s biggest loser — falling 26.39% over the reporting period to $0.11 as of press time. The project’s green run rose by 120% over the last seven days. Its market cap stood at $200.24 million.

MobileCoin

MOB is another token that has shed some of the gains it made earlier in the week. It decreased by 16.95% in the last 24 hours to $1.45 as of press time. The privacy-focused asset has plunged by 43% in the previous 30 days. Its market cap stood at $108.5 million.

Audius

AUDIO lost 5.6% over the reporting period to trade at $0.27 as of press time. The entertainment-related token rose by over 98% in the last 30 days. Its market cap stood at $266.18 million.

Threshold

T decreased 6.75% to $0.047 as of press time. It is unclear why the token was experiencing a sell-off. Its market cap stood at $406.35 million.

Unus Sed Leo

LEO is down 3.6% to $3.38 as of press time. The Bitfinex community utility token has recently been on a downward spiral. The token has fallen by roughly 5% over the last 30 days. Its market cap stood at $3.22 billion.

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