Daily Crypto Market Update – Dogecoin Surges 26%, Outspacing Other Top Ten Coins

The crypto market has seen $3.8 billion in net inflows over the last 24 hours. The total market capitalization now stands at $1.23 trillion. The Bitcoin market cap increased by $6.8 billion to $545.2 billion, while Ethereum saw its valuation surge to $225.2 billion after posting inflows of $6.9 billion in the past day.

During this period, the top ten cryptocurrencies by market capitalization posted varying performances. Dogecoin was the biggest winner, posting over 26% gains following a move by Twitter CEO Elon Musk to change the platform’s Logo to that of DOGE. Musk revealed plans to incorporate crypto payments on Twitter last year, and the latest move suggests they are still alive.

Meanwhile, XRP became the top loser in the lot after shedding 2.3% of its value.

In the stablecoin market, USDT’s market cap climbed to $79.8 billion, following inflows of $12.3 million over the past 24 hours. USDC and BUSD recorded outflows of $17.2 million and $112.6 million, dropping to $32.6 billion and $7.3 billion, respectively.


BTC increased by 0.4% in the past day to trade at $28,152 on Tuesday evening. The largest crypto by market cap saw its dominance rise slightly to 44.4% from 44.2%.

It is worth highlighting that BTC fell to a support level of $27,419 within the last 24 hours.


The second-biggest crypto asset rose 2.9% to $1,865. It now dominates 18.2% of the market. ETH had initially fallen to a support level of $1,775.

Top Five Gainers:

ICON: ICX becomes the top gainer after its price grew 54% to $0.406 over the past day. This crypto project organized a hackathon a few days ago. It has a market cap of $386.46 million.

Dogecoin: As mentioned earlier, Elon Musk’s favorite cryptocurrency surged 26% to trade at $0.09876. The dog-themed token market valuation has climbed to $13.97 billion.

Ox: ZRX was yesterday’s biggest loser but has seen gains of 22.3% in the 24 hours. The crypto asset now changes hands for $0.337 and has a market cap of $287.34 million.

IoTex: IOTX surged 16.3% to trade at $0.031 as of this writing. The increase could be due to the recent launch of the project’s improvement Proposal program. It has a market cap of $295.36 million.

Flex: FLEX posted gains of 8.9% in the past day to trade at $2.58. The token started surging following news that a Seychelles-based court had approved the restructuring proposal of its issuer CoinFlex. It now has a market valuation of $225.79 million.

Top Five Losers:

Kaspa: KAS is the top loser of the day after posting losses of 13.2%. But despite the drop, the crypto asset is up 175% over the past 30 days. It now trades at $0.033 and has a market cap of $601.56 million.

Conflux Network: CFX dropped 7.8% to $0.37 as of this writing. The project is looking to build a zero-knowledge-proof technology. In that regard, it has partnered with Kepler42b_ZK. CFX has a market valuation of $1.03 billion.

Hedera: HBAR shed 6.8% of its value in the past 24 hours. The developer behind the project, HBAR Foundation, revealed last week that Brian Brooks, the former Acting Comptroller of the OCC, had joined the organization. The token has a market cap of $2.08 billion.

CORE: This crypto asset declined by 6.6% to $1.53. Its developer recently rolled out its bridging solution called CORE Faucet. The token’s market cap stands at $118.78 million.

JOE: The token plunged 5.9% to trade at $0.58. The project’s Auto Pools function that enables automated liquidity management is now live. JOE has a market valuation of $197.45 million.

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