CryptoSlate Daily wMarket Update – Dec. 9-11: Dogecoin leads top 10 assets sell-off

Since the last market update report, the cryptocurrency market cap saw net outflows of $16.68 billion and currently stands at $844.36 billion — down 1.44% over the last 24 hours.

Meanwhile, Bitcoin and Ethereum’s market cap is down 1.12% and 1.72% to $326.29 billion and $153.03 billion, respectively.

The top 10 cryptocurrencies all posted losses over the reporting period. The biggest losers were the two leading meme coins, Dogecoin and Shiba Coin, which fell 8.12% and 3.56%, respectively. BTC and ETH are down 1.02% and 1.43%, respectively, over the reporting period.

Since the last market update, the market cap of Tether (USDT) and  USD Coin (USDC) remained flat at $65.71 billion and $42.80 billion, respectively. BinanceUSD (BUSD) market cap stood at $22.09 billion.

Bitcoin

Bitcoin lost 1.02% to trade at $16,985 as of 07:00 ET. Its market dominance rose to 38.7% from 38.5%.

The leading cryptocurrency fell below $17,000 on Dec. 11. The asset traded at a high of $17,245 and bottomed at $16,899 over the reporting period.

Ethereum

ETH recorded 1.43% losses over the last 24 hours to trade at $1,254 as of 07:00 ET. Its market dominance fell slightly to 18.2% from 18.3% over the reporting period.

Over the last 24 hours, ETH’s price peaked at $1,281 and bottomed at $1,243.

Top 5 Gainers

MAGIC

MAGIC is the day’s biggest gainer, rising by 69.88% in the last 24 hours to $0.902. Crypto exchange Binance listed the project’s token on its Innovation List, increasing exposure to the coin. Its market cap stood at $160.13 million.

MXC

MXC gained 11.84% over the reporting period to trade at $0.0385 as of press time. The Internet of Things (IoT) token rose by over 38% in the last seven days. Its market cap was $101.72 million as of press time.

Toncoin

TON increased 8.86% to $2.09 as of press time. The Telegram-related token is up 14% over the last seven days. Its market cap stood at $2.56 billion.

TerraUSD

USTC is also among the day’s top gainers. The failed decentralized stablecoin rose by 6.04% over the reporting period to $0.02527 as of press time. Its market cap stood at $247.82 million.

ApeCoin

APE is up 5.25% over the last 24 hours to $4.37254. Its market cap stood at $1.58 billion.

Top 5 Losers

Hooked Protocol

HOOK is the day’s biggest loser, falling 12.83% to $2.00465 as of press time. It was unclear why the token was experiencing a sell-off. Its market cap stood at $100.23 million.

Waves

WAVES fell 10.13% over the reporting period to $1.81966 as of press time. The token has been experiencing a sell-off since Upbit issued an investment warning about it on Dec. 8. Its market cap stood at $200.33 million.

WEMIX

WEMIX decreased by 9.19% to $0.42998 as of press time. The NFT-related token is currently embroiled in a legal tussle with South Korean exchanges which delisted it. Its market cap stood at $105.41 million.

Osmosis

OSMO lost 9% of its value over the reporting period to $0.91272 as of press time. Its market cap stood at $449.6 million.

Mask Network

MASK plunged 8.93% to $3.00 in the last 24 hours. Its market cap stood at $204.67 million.

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