CryptoSlate Daily wMarket Update: Solana and Cardano lead market recovery

The cryptocurrency market cap saw net inflows of $23.04 billion over the last 24 hours and currently stands at $1,046.4 billion — up 2.3% from $1,023.36 billion.

Over the reporting period, the Bitcoin market cap grew 1.7% to $443.07 billion from $436.03 billion. Similarly, Ethereum’s market cap gained 3.7% to $196.32 billion from $189.4 billion.

Over the last 24 hours, the top 10 cryptocurrencies all recorded gains. Solana leads the pack, growing 5.2%, followed by yesterday’s biggest loser Cardano, which posted 5% gains today.

The market caps of Tether (USDT) and BinanceUSD (BUSD) grew to $67.2 billion and $15.58 billion, respectively. By contrast, USD Coin (USDC) fell to $43,65 billion.

Bitcoin

Over the last 24 hours, Bitcoin grew 1.7% to trade at $22,995 as of 07:00 ET. Its market dominance decreased to 42.3% from 42.6%.

BTC reached a peak of $23,813 over the past day. Bears then took control to dip the price as low as $22,815. The leading cryptocurrency has been trading in a narrow band between $22,858 and $23,282 since.

Ethereum

Ethereum gained 3.7% over the last 24 hours to trade at $1,605 as of 07:00 ET. Its market dominance grew to 18.8% from 18.5%.

Over the reporting period, ETH achieved a peaked price of $1,641 before bottoming at $1,576.

Top 5 Gainers

Aptos

APT is the day’s biggest gainer, increasing 30.3% over the reporting period to $18.1462 as of press time. Recent developments include rising NFT volume and additional liquidity pools. Its market cap stood at $2.91 billion.

COTI

COTI gained 23.5% to trade at $0.12223 as of press time. The Djed stablecoin is set for release next week. Its market cap stood at $135.51 million.

Audius

AUDIO grew 23.2% in the last 24 hours to $0.32876. Coinbase recently announced listing the token. Its market cap stood at $307.71 million.

Injective

INJ rose 21.2% in the last 24 hours to $2.26079. The token grew 83.4% over the past month. Its market cap stood at $165.05 million.

eCash

XEC gained 20.8% in the last 24 hours to $0.00004. The token is up 83% over the past month. Its market cap stood at $785.2 million.

Top 5 Losers

Ribbon Finance

RBN is the day’s biggest loser, falling 3.3% to $0.25336 as of press time. Despite today’s dip, the token is still up 28.8% over the past seven days. Its market cap stood at $134.74 million.

BinaryX

BNX declined 3.1% over the reporting period to $83.7594 as of press time. Its market cap stood at $240.9 million.

MediBloc

MED fell 2.3% over the reporting period to $0.01663 as of press time. Its market cap stood at $105.88 million.

Fei USD

FEI lost 1% over the reporting period to $0.98864 as of press time. The stablecoin lost its $1 peg price on Jan. 25, falling as low as $0.97070. Its market cap stood at $420.17 million.

LINK

LN fell 0.9% in the last 24 hours to $43.8667. Its market cap stood at $295.42 million.

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