CFTC’s Binance lawsuit puts bears in control of market — pushes BTC below $27,000

The cryptocurrency market cap saw net outflows of $40 billion over the last 24 hours and currently stands at $1.12 trillion — down 3.42% from $1.16 trillion.

During the reporting period, Bitcoin and Ethereum’s market cap fell by 4.25% and 2.75% to $516.82 billion and  $210.35 billion, respectively.

Except for XRP, other top 10 cryptocurrencies recorded losses during the reporting period. XRP gained 3.38%, while Litecoin and BNB posted the highest loss of over 6%, respectively.

BTC and ETH also lost 4.15% and 2.62%, respectively.

In the last 24 hours, the market cap of Tether (USDT) increased to $79.47 billion. Meanwhile, the market caps of USD Coin (USDC) and Binance USD fell to $33.44 billion and $7.82 billion, respectively.

Bitcoin

In the last 24 hours, Bitcoin fell by 4.15% to trade at $26,749 as of 07:00 ET. Its market dominance decreased to 46.0% from 46.4%.

During the reporting period, BTC fell below $27,000 for the first time in the last two weeks. The flagship digital asset bottomed at $26,606 and has traded chiefly within that range.

Ethereum

Over the last 24 hours, Ethereum decreased 2.62% to trade at $1,717 as of 07:00 ET. Its market dominance rose to 18.7% from 18.6%.

ETH mirrored BTC’s price performance and bottomed at $1690 before rallying above $1700 again.

Top 5 Gainers

NuCypher

NU is the day’s biggest gainer, rising 40.21% over the reporting period to $0.18741 as of press time. The project has been up 32% over the last seven days. Its market cap stood at $131.75 million.

Flare

FLR surged 23.13% to $0.04235 during the reporting period. The token is up 10% over the past month. Its market cap stood at $508.2 million.

Kaspa

KAS gained 16.56% to trade at $0.02241 at the time of writing. For the second consecutive day, the token reached a new all-time high of $0.02362. Its market cap stood at $393.62 million.

JOE

JOE is up 13.75% to $0.55093 as of press time. The token is up 117% over the past month. Its market cap stood at $181.35 million.

GensoKishi Metaverse

MV rose 8.44% to $0.14067. The metaverse-related token has been up 25% over the past week. Its market cap stood at $240.45 million.

Top 5 Losers

Celer Network

CELER is the day’s biggest loser, falling 14.02% to trade at $0.02368 at the time of writing. The token is down 88% from its all-time high of $0.19557. Its market cap stood at $167.75 million.

Gitcoin

GTC is on the top loser’s list for the second consecutive day. The token declined 12.91% to $1.86265 over the reporting period. The project fell 6% over the last seven days. Its market cap stood at $111.6 million.

HEX

HEX decreased 12.24% to $0.07601. It is unclear when the project’s highly anticipated PulseChain is set to launch. Its market stood at $13.18 billion.

Arbitrum

ARB  plunged 11.17% to $1.12690. The newly launched token is one of the worst performers of the last seven days, falling by more than 90%. Its market cap stood at $1.44 billion.

Mina

MINA is down 9.86% to $0.71249 as of press time. Its market cap stood at $623.37 million.