• The cryptocurrency market cap saw net outflows of $2.09 billion over the last 24 hours and currently stands at $1,044.31 billion.
• Bitcoin fell 0.2% to trade at $22,960 as of 07:00 ET and its market dominance grew slightly to 42.4%.
• Polygon topped the list of top 10 cryptocurrencies, posting 7.7% gains.
The cryptocurrency market has been in a state of flux over the past 24 hours. The market cap saw net outflows of $2.09 billion and currently stands at $1,044.31 billion — down 0.2% from $1,046.4 billion. Bitcoin, Ethereum and the top 10 cryptocurrencies all recorded a mixed performance over the reporting period.
Bitcoin, the world’s largest cryptocurrency by market capitalization, fell 0.2% to trade at $22,960 as of 07:00 ET on Wednesday. Its market dominance grew slightly to 42.4% from 42.3%. BTC reached a peak price of $23,242 over the past day before a gradual downtrend followed, resulting in a sharp sell-off that found support at $22,541. Bulls stepped in to take the price back above pre-sharp sell-off levels.
Ethereum, the second largest cryptocurrency, lost 1.6% over the last 24 hours to trade at $1,578 as of 07:00 ET. Its market dominance fell to 18.5% from 18.8%. ETH price action mirrored BTC, achieving a peak price of $1,654 before the sharp sell-off that saw it touch a low of $1,539.
The top 10 cryptocurrencies recorded a mixed performance over the last 24 hours. Polygon topped the list, posting 7.7% gains. By contrast, yesterday’s top gainer Solana brings up the rear, down 2.6%. The market caps of Tether (USDT) and BinanceUSD (BUSD) grew to $67.34 billion and $15.76 billion, respectively. USD Coin (USDC) fell to $43,47 billion.
Overall, the cryptocurrency market has seen a slight decline in the past 24 hours, with Bitcoin and Ethereum leading the way. However, the top 10 cryptocurrencies have seen a mixed performance, with Polygon defying the flat market and posting 8% gains. As the market continues to fluctuate, investors will be keeping a close eye on price movements over the coming days.