CryptoSlate Daily wMarket Update: Bears take control as Bitcoin dips to $23,500

The cryptocurrency marketplace headdress saw a nett outflow of astir $10 cardinal implicit the past 24 hours and presently stands astatine $1.08 trillion — down 0.86% from $1.09 trillion.

Over the reporting period, Bitcoin and Ethereum’s marketplace headdress fell 1.32% and 1.51% to $453.27 cardinal and $201.57 billion, respectively.

The apical 10 crypto assets posted losses crossed the committee implicit the reporting play but Polkadot, which is up 3.96%. The apical losers included Polygon, Dogecoin, and Solana, which decreased by 3.58%, 2.19%, and 2.27%, respectively.

Source: CryptoSlate.com

Over the past 24 hours, the marketplace caps of Tether (USDT) and USD Coin (USDC) marginally roseate to $68.04 cardinal and $42.44 billion, respectively. On the different hand, the marketplace headdress of BinanceUSD (BUSD) remained level astatine $16.10 billion.

Bitcoin

Over the past 24 hours, Bitcoin fell 1.3% to commercialized astatine $23,523 arsenic of 07:00 ET. Its marketplace dominance dropped to 41.9% from 42.1%.

During the reporting period, BTC managed to enactment supra $23,500 aft surging to $24,091 astir connected Feb. 2. The plus liquidated implicit $30 cardinal from traders who held agelong positions.

BTC Price Performance (Source: Tradingview.com)

Ethereum

Ethereum declined 1.4% implicit the past 24 hours to commercialized astatine $1,648 arsenic of 07:00 ET. Its marketplace dominance remained level astatine 18.7%.

ETH traded supra $1700 for the archetypal clip since September 2022 but soon retraced to its existent levels aft the bears took power of the market.

ETH Price Performance (Source: Tradingview.com)

Top 5 Gainers

TerraUSD

USTC is the day’s biggest gainer, rising 57.97% implicit the reporting play to $0.039 arsenic of property time. Terra assemblage members person passed a caller connection to re-peg the algorithmic stablecoin. Its marketplace headdress stood astatine $390.36 million.

Illuvium

ILV grew 38.35% to $101.96 arsenic of property time. The play-to-earn crippled roseate by implicit 150% successful the past 30 days. Its marketplace headdress stood astatine $214.84 million.

Orbs

ORBS gained 32.67% implicit the reporting play to commercialized astatine $0.040 arsenic of property time. The blockchain web has enjoyed a stellar commencement to the year, increasing by implicit 90 since Jan. 1. Its marketplace headdress stood astatine $115.17 million.

Wemix

WEMIX jumped 23.41% to $1.11 as of property time. The NFT-related token precocious burnt 2 cardinal WEMIX Classic tokens. Its marketplace headdress stood astatine $280.54 million.

Baby Doge Coin

BabyDoge roseate 18.4% to $0.000000001874 arsenic of property time. Earlier today, the meme coin revealed that it had burnt implicit 352 cardinal tokens, and the full worth of assets locked connected its decentralized speech (DEX) crossed $40 million. Its marketplace headdress stood astatine $214.75 million.

Top 5 Losers

Bitgert

BRISE is the day’s biggest loser, posting 13.47% losses and exchanging hands for $0.00000049 arsenic of property time. The Binance Smart Chain-based crypto has erased its gains of Feb. 2. Its marketplace headdress stood astatine $195.38 million.

Hooked Protocol

HOOK fell 11.48% successful the past 24 hours to $3.04. The token is connected a downward trend, falling by implicit 14% successful the erstwhile 7 days. Its marketplace headdress stood astatine $153.49 million.

Status

SNT is connected the apical losers database for the 2nd consecutive day. The token plunged 9.93% to $0.031 arsenic of property time. The token roseate by implicit 60% successful the past 30 days. Its marketplace headdress stood astatine $123.95 million.

Storj

STORJ decreased 9.14% to $0.39 arsenic of property time. The filesharing token roseate by 53% implicit the past 30 days. Its marketplace headdress stood astatine $162.98 million.

dYdX

DYDX is down 9.02% to $3.13 arsenic of property time. The DEX token has seen improved terms show since its instauration released a bullish study astir its ecosystem. Its marketplace headdress stood astatine $491.53 million.

The station CryptoSlate Daily wMarket Update: Bears instrumentality power arsenic Bitcoin dips to $23,500 appeared archetypal connected CryptoSlate.