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NEM (XEM) up over 20% as rest of market falters

After a huge couple of days for the crypto market, the last 24 hours have seen a slight retracement. NEM (XEM) is the only crypto with double-digit gains, and most of the leading tokens are down.
NEM (XEM) up over 20% as rest of market falters
Total market cap / BTC dominance:
The total crypto market cap is currently $249.5 billion, after losing around $9 million in the past 24 hours. Bitcoin dominance has fallen to 56.1%.
Bitcoin (BTC)
BTC/USDT chart provided by TradingView
After peaking at around $8300 yesterday, the top crypto has fallen back well below the $8000 mark, down over 4 percent for the 24h period. BTC has been testing progressively lower lows throughout the 24h period, and the new support level is likely to be just over $7700. If the price does drop below $7500, many traders are predicting some major losses to take us back to levels seen at the start of May. 
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Ethereum (ETH) is the only crypto that is up for the 24h period. After failing to test a key resistance level at just below $280, it is now back to just over $260, with gains of around 2.35% compared to 24 hours ago. XRP has performed the worst, down 8.8%.
The 16th-largest crypto by market cap, NEM saw huge gains of just over 30 percent yesterday, and the last 24 hours have seen it continue to rise. It is trading at around $0.096, and is doing even better against Bitcoin. A huge spike saw it gain 55% in BTC value on Binance in less than an hour, and its BTC price is still up 28 percent for the 24h period. 
XEM/BTC chart provided by TradingView

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