Bitcoin Drops Following Economic Reports; Synthetix Becomes Top Loser

Bitcoin (CRYPTO: BTC) moved lower, with the cryptocurrency prices trading below the key $27,000 level on Thursday.

Ethereum (CRYPTO: ETH) also recorded losses, but remained above the key $1,800 mark this morning.

U.S. initial jobless claims increased to 229 thousand in the week ending May 20th, versus 225 thousand in the prior week and compared to market expectations of 245 thousand. The US GDP grew by an annualized 1.3% on quarter in the first quarter, higher than market estimates of 1.1%.

Render Token (CRYPTO: RNDR) was the top gainer over the prior 24 hours, while Synthetix (CRYPTO: SNX) turned out to be the biggest loser.

At the time of writing, the global crypto market cap fell to $1.11 trillion, recording a 24-hour decline of 0.9%. BTC was trading lower by 1% at $26,423 while ETH fell by around 0.7% to $1,804 on Thursday.

Here are the top ten crypto gainers and losers over the past 24 hours:

Gainers

• Render Token (CRYPTO: RNDR)

Price: $2.89 24-hour gain: 15.8%

• The Sandbox (CRYPTO: SAND)

Price: $0.5161 24-hour gain: 4.7%

• Lido DAO (CRYPTO: LDO)

Price: $2.05 24-hour gain: 3.6%

• Axie Infinity (CRYPTO: AXS)

Price: $6.89 24-hour gain: 2.7%

• Polygon (CRYPTO: MATIC)

Price: $0.8866 24-hour gain: 2.2%

Losers

• Synthetix (CRYPTO: SNX)

Price: $2.32 24-hour drop: 8.8%

• Kava (CRYPTO: KAVA)

Price: $1.12 24-hour drop: 6.6%

• ApeCoin (CRYPTO: APE)

Price: $3.26 24-hour drop: 6.6%

• Flare (CRYPTO: FLR)

Price: $0.02637 24-hour drop: 4.9%

• Algorand (CRYPTO: ALGO)

Price: $0.1511 24-hour drop: 4.5%

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