Bitcoin nears $18K following CPI data release

The total cryptocurrency market cap saw net inflows of $15.74 billion and currently stands at $871.87 billion — up 2.06% over the past 24 hours.

Bitcoin and Ethereum’s market cap was up 2.51% and 2.94% to $343.79 billion and $162.67 billion, respectively.

The top 10 cryptocurrencies all posted gains over the reporting period. Solana (SOL) recorded a 4% growth, while BTC and ETH posted gains of 2.16% and 2.89%, respectively. The market was buoyed by better than expected CPI data.

The supply of Tether (USDT) and USD Coin (USDC) grew over the last 24 hours. USDT’s supply slightly grew to $65.97 billion from $65.81 billion, while USDC’s supply rose by over $2 billion to $45.16 billion.

Meanwhile, BUSD’s supply declined over the reporting period to $18.8 billion.

Bitcoin

Over the last 24 hours, Bitcoin gained 2.16% to trade at $17,820 as of 07:00 ET. Its market dominance rose to 39.3% from 39.2%.

The flagship digital asset traded very closely to $18,000 during the reporting period. The asset traded at a high of $17,930 around 09:00 UTC on Dec. 13 and traded sideways for the rest of the day.

Ethereum

ETH recorded 2.89% in gains over the last 24 hours to trade at $1,324 as of 07:00 ET. Its market dominance rose to 18.6% from 18.4% over the reporting period.

Over the last 24 hours, ETH’s price broke the $1,300 barrier and traded above the mark throughout the day. Its value peaked at $1,341.

Top 5 Gainers

T-mac DAO

TMG is the day’s biggest gainer, rising by 60.24% to trade at $0.41771 as of press time. Its market cap stood at $417.71 million.

Toncoin

The Telegram-related token continued its upward price movement in the last 24 hours, posting gains of 21.73% to trade at $2.77919 as of press time. Its value has grown by over 50% in the last seven days. Its market cap stood at $3.39 billion.

Acala Token

ACA grew 20.69% over the reporting period to $0.14324 as of press time. The token had risen by over 8% in the last seven days. Its market cap stood at $81.81 million.

FET increased by 15.86% over the last 24 hours to $0.10540. The Cosmos-based token has grown by 69% in the last 30 days. Its market cap stood at $78.64 billion.

SiaCoin

SC grew 13.33% over the reporting period to $0.00294. Its market cap stood at $155.26 million.

Top 5 Losers

DigiByte

DGB is the day’s biggest loser, falling 11.11% over the reporting period to $0.00850. The proof-of-work token had risen by 15% in the last seven days. Its market cap stood at $134.9 million.

GMX

GMX fell 7.16% in the last 24 hours to $54.6014. It was unclear why the DEX token was falling. Its market cap stood at $436.3 million

Stacks

STX decreased 5% to $0.28579 as of press time. Its market cap stood at $385.43 million.

MXC

MXC plunged 5.3% to $0.04271 as of press time. Its market cap stood at $112.84 million.

Magic

MAGIC saw 3% losses over the reporting period to trade at $0.68565 as of press time. Its market cap stood at $141.93 million