Market volatility swings Bitcoin price wildly in the last 24 hours

In the last 24 hours, the cryptocurrency market cap saw net outflows of $10 billion and currently stands at $1.20 trillion — down 0.96% from $1.21 trillion.

Bitcoin’s market cap rose 0.43 % to $563.18 billion during the period, while Ethereum’s market cap fell 1.24% to $227.40 billion.

The top 10 cryptocurrencies saw mixed performance during the reporting period. The biggest gainers were Cardano and Bitcoin, which posted meager gains of less than 0.5%, respectively.

Others like Dogecoin, BNB, Solana, Polkadot, Litecoin, and XRP lost more than 2%, respectively.

The market cap of Tether (USDT) and USD Coin (USDC) slightly grew to $81.61 billion and $30.73 billion, respectively. In contrast, Binance USD (BUSD) fell to $6.30 billion.

Bitcoin

In the last 24 hours, Bitcoin increased 0.1% to trade at $29,008 as of 07:00 ET. Its market dominance grew to 47% from 46.6%.

During the reporting period, Bitcoin’s volatility wiped off over $300 million after rumors emerged that the U.S. government and bankrupt crypto exchange Mt.Gox were selling the asset. CryptoSlate Insight reported that the wild price swings were due to an illiquid market.

Ethereum

Over the last 24 hours, Ethereum declined 1.52% to trade at $1,886 as of 07:00 ET. Its market dominance fell to 19.0% from 19.1%.

The wild market performance saw ETH trade near $2,000 before bottoming at $1,792.

Top 5 Gainers

RSK Infrastructure Framework

RIF is the day’s biggest gainer, growing 12.64% over the last 24 hours to $0.13968 as of press time. The filesharing token is down 10% in the previous 30 days. Its market cap stood at $134.1 million.

MultiversX

EGLD grew 11.73% over the last 24 hours to $45.4320 as of press time. The Binance Chain-based token has risen over 13% in the previous seven days. Its market cap stood at $1.15 billion.

inSure

SURE gained 10.73% to trade at $0.00626 at the time of writing. Despite today’s upside, the blockchain network has been down 21% in the past month. Its market cap stood at $167.61 million.

Kaspa

KAS rose 9.64% to $0.03001 over the last 24 hours. The token has increased by nearly 10% in the previous 30 days. Its market cap stood at $545.47 million.

Injective

INJ is on the top gainer’s list for the second consecutive day. The token is up 8.7% to $8.15165 as of press time. Its market cap stood at $713.13 million.

Top 5 Losers

tomiNET

TOMI is the day’s biggest loser, falling 17.66% to trade at $2.98535 at the time of writing. The privacy token is up more than 30% in the last 30 days. Its market cap stood at $118.35 million.

Hex

HEX declined 6.71% to $0.00589 over the reporting period. Its market cap stood at $9.89 billion.

ssv.network

SSV plunged 6.49% to trade at $0.23853 as of press time. The token has risen by more than 100% in the previous year. Its market cap stood at $264.43 million.

Solar

SXP decreased 6.15% to $0.57118 over the reporting period. Its market cap stood at $321.3 million.

Threshold

T dropped 5.81% to trade at $0.03166. The Ethereum-based token is down 22% over the last 30 days. Its market cap stood at $272.98 million.