After almost touching US$32k in the past 24 hours, bouncy Bitcoin has landed on something sharp, puncturing its way back down to about US$29.5k.

Just a casual $2,500 dip in the space of about six hours or so. It’s not unusual, as your grandma’s underwear target Tom Jones would sing. Certainly not in this market and macro climate it isn’t.

That said, it seems to have found support at its current level. Perhaps it’s just a little spotlight shy, needs a rest before its next set.

 

Top 10 overview

With the overall crypto market cap at roughly US$1.29 trillion, down 6% since this time yesterday, here’s the current state of play among top 10 tokens – according to CoinGecko.

There’s a fair bit of blood in the top 10 today, but most notably the layer 1 blockchains Cardano (ADA) and Solana (SOL).

After achieving a 40% rise in four days, partly based on positivity around increased Defi activity, Cardano has sold off some of those gains. Still, its fans tend to think/hope June will be a good one for the Charles Hoskinson-led Ethereum rival – and that has something to do with another hard fork happening soon.

“Vasil” will apparently improve the network’s scalability and usability…

As for Solana… well, this ain’t great. It’s had another outage, after some sort of bug stopped blockchain production for more than four hours. We’re sure there’s a better, more technical explanation for it than that on the official Solana channels…

Still, Solana’s been here a few times before, which admittedly doesn’t inspire confidence. But it’s tended to recover reasonably well from these events in the past.

Pretty much every other blockchain shiller will have an opinion on it, though, and their own perfect solution to everything that’s wrong with the rest of crypto…

 

And so forth.

 

Uppers and downers: 11–100

Sweeping a market-cap range of about US$10.5 billion to about US$530 million in the rest of the top 100, let’s find some of the biggest 24-hour gainers and losers at press time.

DAILY PUMPERS

• Chain (XCN), (mc: US$3.1 billion) +4%

• Waves (WAVES), (market cap: US$866 million) +2.5%

• TRON (TRX), (mc: US$7.8 billion) 2%

• Evmos (EVMOS), (mc: US$650 million) 2%

• PAX Gold (PAXG), (mc: US$618 million) 1%

 

DAILY SLUMPERS 

• STEPN (GMT), (mc: US$612 million) -15%

• Arweave (AR), (mc: US$655 million) -15%

• Terra Luna Classic (LUNC), (market cap: US$794 million) -13%

• THORChain (RUNE), (market cap: US$841 million) -12%

• Celo (CELO), (market cap: US$589.5 million) -12%

 

So, how are altcoins faring this bear market, generally speaking? This tweet from Blockworks pretty much sums it up…

 

Around the blocks

Looks like actor, comedian, artist and art lover Jim Carrey is the latest big name to buy an NFT.

Nice. Still, it’s no goblintown.wtf…

Meanwhile, Washington continues to get in a flap about inflation. Here’s the latest from the US non-fungible treasury secretary Janet Yellen…

Ah well, let’s end today’s column on some vague hopium, shall we?

Actually, no. Let’s end with…

 

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