Crypto market unshaken despite Genesis bankruptcy

The cryptocurrency market cap saw net inflows of $11.64 billion in the last 24 hours and currently stands at $976.82 billion — up 1.19% from $965.18 billion.

Bitcoin and Ethereum’s market cap grew 1.06% and 1.94% to $404.19 billion and $189.82 billion, respectively, over the past day.

The top 10 cryptocurrencies posted gains over the reporting period, excluding Binance-backed BNB which was down 0.68%.

Shiba Inu and Ethereum recorded the highest gains in the last 24 hours — up over 2% each.

Source: CryptoSlate

In the last 24 hours, the market caps of Tether (USDT) and USD Coin (USDC) stayed flat at $66.48 billion and $43.11 billion, respectively. The market cap of BinanceUSD (BUSD) rose to $16.32 billion.

Bitcoin

BTC rose 1.07% to trade at $20,966 as of 07:00 ET. Its market dominance remained flat at 41.4%.

In the last 24 hours, Bitcoin traded above $21,000 despite the bankruptcy of crypto lender Genesis. The flagship digital asset peaked at $21,175 and bottomed at $20,689.

BTC 24-Hour Price Performance (Source: Tradingview.com)

Ethereum

Ethereum grew 2.08% over the last 24 hours to trade at $1,551 as of 07:00 ET. Its market dominance increased to 19.4% from 19.3%.

ETH mostly traded sideways in the last 24 hours following Genesis’ bankruptcy. The second-largest digital asset by market cap peaked at $1559 and bottomed at $1515.

ETH 24-Hour Price Performance (Source: Tradingview.com)

Top 5 Gainers

Saitama

SAITAMA is the day’s biggest gainer, increasing 37.18% over the reporting period to $$0.00244 as of press time. The Ethereum-based NFT token is up 100% in the last 30 days. Its market cap stood at $94.29 million.

FTX Token

FTT is among the day’s top gainers, growing 25% in the last 24 hours to $2.304. The embattled exchange token saw renewed interest following FTX CEO John Ray’s comments on restarting the firm. Its market cap stood at $762.91 million

Hooked Protocol

HOOK gained 22.65% to trade at $1.89853 as of press time. The gaming token rose by over 30% in the last seven days. Its market cap stood at $94.93 million.

Wax

WAXP is another gaming token on the top gainers…

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