: Crypto Market Sees 49B Wiped in Red Day: Bitcoin, Ethereum Drop Hard

• The cryptocurrency market cap saw net outflows of $48.8 billion over the last 24 hours and currently stands at $1.013 trillion — down 4.6%.
• Bitcoin and Ethereum’s market cap fell 4.3% and 6% to $419.68 billion and $188.34 billion, respectively, while Polkadot suffered the worst drawdown, sinking 9.4%.
• Tether (USDT) increased to $68.2 billion while USD Coin (USDC) and BinanceUSD (BUSD) decreased to $41.52 billion and $16.16 billion, respectively.

Crypto Market Cap

The cryptocurrency market cap saw net outflows of $48.8 billion over the last 24 hours, with the total standing at $1.013 trillion — down 4.6% from $1.062 trillion previously reported period ago .

Bitcoin Market Performance

Over the last 24 hours, Bitcoin lost 4.3% to trade at $21,767 as of 07:00 ET with a market dominance of 41.4% from 41.2%. Its price peaked at $22,830 before suffering a sharp drop that found support at around between$21,646 and$21,942 thereafter..

Ethereum Market Performance

Ethereum dropped 6%, closing in on its 24-hour low of 1 538 as reported this morning with an 18 .6 % market share – down from 18 . 8 % previously reported period ago.. The leading altcoin peaked at 1650 before suffering a cascading drop that found support at 1525..

Top 5 Gainers

Mina was the day’s biggest gainer after announcing progress on its rollup framework – up 12 .4 % since press time; followed by Aelf who jumped 11 .5 % after recent updates were released; Ontology Gas gained 6 .9 % over the reporting period; Syscoin rose 6 .4 % ; and Synthetix Network Token rounding off today’s top 5 gainers list – up 3 .5 % since press time..


Overall crypto markets have seen a red day with net outflows of nearly 49bn; however some altcoins have managed to buck against this trend demonstrating resilience in spite of bearish sentiment across markets overall..