Bitcoin Drops Following Economic Reports; Synthetix Becomes Top Loser

Bitcoin BTC/USD moved lower, with the cryptocurrency prices trading below the key $27,000 level on Thursday.

Ethereum ETH/USD 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 RNDR/USD was the top gainer over the prior 24 hours, while Synthetix SNX/USD 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 RNDR/USD

Price: $2.89
24-hour gain: 15.8%

• The Sandbox SAND/USD

Price: $0.5161
24-hour gain: 4.7%

• Lido DAO LDO/USD

Price: $2.05
24-hour gain: 3.6%

• Axie Infinity AXS/USD

Price: $6.89
24-hour gain: 2.7%

• Polygon MATIC/USD

Price: $0.8866
24-hour gain: 2.2%

Losers

• Synthetix SNX/USD

Price: $2.32
24-hour drop: 8.8%

• Kava KAVA/USD

Price: $1.12
24-hour drop: 6.6%

• ApeCoin APE/USD

Price: $3.26
24-hour drop: 6.6%

• Flare FLR/USD

Price: $0.02637
24-hour drop: 4.9%

• Algorand ALGO/USD

Price: $0.1511
24-hour drop: 4.5%

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