CryptoSlate Daily wMarket Update – Dec. 2-4: Market turns green as Litecoin leads large caps

The cryptocurrency market cap saw net inflows of $8.95 billion and currently stands at $868.98 billion — up 1.04% from $857.03 billion over the reporting period.

Since the weekend, Bitcoin’s market cap increased by 1.5% to $332.08 billion from $327.06 billion. While Ethereum’s market cap increased by 0.5% to $158.54 billion from $157.74 billion.

Over the last 24 hours, the top 10 cryptocurrencies all posted gains. Litecoin leads the pack, posting 9.5% gains. XRP brings up the rear, growing 0.9% over the reporting period.

Over the reporting period, the market caps of Tether (USDT) and USD Coin (USDC) increased to $65.51 billion and $43.34 billion, respectively.  Meanwhile, BinanceUSD (BUSD) saw a slight decrease to $22.08 billion.

Bitcoin

Bitcoin gained 2% to trade at $17,305 as of 07:00 ET. Its market dominance grew marginally to 38.3% from 38.1%.

Since the last wMarket report, a flat performance picked up Sunday morning (ET) to peak at $17,400. Hours before press time, a marginal drawdown sees $17,270 act as support.

Ethereum

ETH posted 3.1% gains over the last 24 hours to trade at $1,295 as of 07:00 ET. Its market dominance fell to 18.2% from 18.4% over the reporting period.

Ethereum’s price performance was more volatile than the market leader. A sharp sell-off found support at $1,236. Since bottoming, ETH has made back all of the losses over the period to settle just below $1,300 at press time.

Top 5 Gainers

Axie Infinity

AXIE is the day’s biggest gainer, growing by 20.7% over the last 24 hours to $8.13175 as of press time. The team recently announced the “Axie Contributor Initiative” allowing community input to shape the future direction of the project. Its market cap stood at $811.99 million.

Dogelon Mars

ELON gained 16.2% over the reporting period to trade at $0.000000366355 as of press time. The reason is unclear, however social media chatter mentions a Binance listing. Its market cap stood at $200.85 million.

Illuvium

ILV is up 14.1% in the last 24 hours to trade at $47.7638. No new fundamental developments have been noted. Its market cap stood at $82.89 million.

Cronos

CRO increased by 11.5% to $0.07109 over the last 24 hours. The native token of Crypto.com has suffered 41.9% losses over the past month due to fears of exchange contagion risk. The platform has assured users it is unaffected by the FTX collapse. Its market cap stood at $1.8 billion.

Litecoin

LTC grew by 9.5% to trade at $83.3338. The token has experienced a resurgence recently due to its enduring reputation as a bona fide project. Its market cap stood at $5.98 billion.

Top 5 Losers

PlutusDeFi

PLT is today’s biggest loser falling 23.4% to $0.10248 over the reporting period to $1.16. The reason why is unclear at this time, however, the token has been removed by CoinMarketCap. Its market cap stood at $2.16 million.

BinaryX

BNX decreased 9.5% over the last 24 hours to $63.4770. Rumors have been circulating of the team dumping tokens, the claim has been denied on the project Twitter. Its market cap stood at $176.78 million.

Braintrust

BTRST fell 4.6% to trade at $1.00152 as of press time. Its market cap stood at $127.68 million.

ABBC Coin

ABBC lost 3.1% of its value to trade at $0.15516 as of press time. The token has lost 31% of its value over the past month. Its market cap stood at $162.55 million.

Trust Wallet Token

TWT fell 2.7% over the reporting period to $2.39973 at the time of press. Despite the minor sell-off, the token has seen 99% gains over the past month due to the growing awareness of self-custody. Its market cap stood at $999.85 billion

The post CryptoSlate Daily wMarket Update – Dec. 2-4: Market turns green as Litecoin leads large caps appeared first on CryptoSlate.