CryptoSlate Daily wMarket Update: Axie Infinity records surprise 40% gains

The cryptocurrency market cap saw net inflows of $73.96 billion since the last report on Jan. 20 and currently stands at $1,050 billion — up 7.6% from $976.82 billion.

Bitcoin and Ethereum’s market cap grew 9% and 5.6% to $440.68 billion and $200.39 billion, respectively, since Jan. 20.

Over the last 24 hours, the top 10 cryptocurrencies all posted gains, excluding Cardano and Solana, down 1% and 1.5% over the reporting period. Dogecoin leads the top 10, gaining 4.6%, closely followed by XRP at 4.1%.

The market caps of Tether (USDT) and USD Coin (USDC) increased to $66.76 billion and $43.65 billion, respectively. By contrast, the BinanceUSD (BUSD) market cap fell to $16.04 billion.

Bitcoin

Over the last 24 hours, Bitcoin rose 0.3% to trade at $22,874 as of 07:00 ET. Its market dominance grew to 42% from 41.4%.

Since Jan. 20, BTC saw a sharp uptick that topped out at $23,388 on Saturday. The ensuing downtrend found support at $22,299 on Sunday evening London time.

Ethereum

Ethereum grew 0.6% over the last 24 hours to trade at $1,636 as of 07:00 ET. Its market dominance fell to 19.1% from 19.4%.

ETH mirrored Bitcoin’s price movements, peaking at $1,680 before finding support at $1,603 during early Sunday morning London time. The token has been ranging between $1,628 and $1,643 today.

Top 5 Gainers

Axie Infinity

AXS is the day’s biggest gainer, increasing 39.5% over the reporting period to $12.8113 as of press time. The reason for the price spike is unknown at this time. Its market cap stood at $1.2 billion.

STEPN

GMT grew 25.9% in the last 24 hours to $0.63895. The project recently announced several updates, including IRL events and additions to its roadmap. Its market cap stood at $383.37 million.

Smooth Love Potion

SLP rose 24.1% in the last 24 hours to $0.00342. The in-game currency of Axie Infinity is up over 54% over the last month. Its market cap stood at $145.65 million.

Hooked Protocol

HOOK gained 19.9% to trade at $2.72438 as of press time. The gaming token rose by over 60% in the last seven days. Its market cap stood at $136.22 million.

RenderToken

RNDR gained 19.2% in the last 24 hours to $0.79934. The token is up over 87% over the last 30 days. Its market cap stood at $202.87 million.

Top 5 Losers

LUKSO

LYXe is the day’s biggest loser, falling 14.8% over the reporting period to $9.15080 as of press time. Its market cap stood at $140.98 million.

Serum

SRM is down 7.2% over the reporting period to $0.40846. The Solana-based DEX experienced a resurgence following cutting ties with FTX. Despite today’s sell-off, SRM is still up 185% over the past 30 days. Its market cap stood at $107.52 million.

SingularityNET

AGIX declined 6.2% to $0.18267 as of press time. Despite today’s dip, off the back of interest in AI, AGIX is still up over 262% over the past 30 days. Its market cap stood at $219.04 million.

Bitgert

BRISE fell 4.9% in the last 24 hours to $0.000000359454. Its market cap stood at $140.77 million.

LooksRare

LOOKS lost 5.4% in the last 24 hours to $0.22047. Its market cap stood at $103.52 million.

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