On August 10, the cryptocurrency market experienced significant volatility, with Bitcoin (BTC) halting at the $60,000 mark. Major altcoins such as Ethereum (ETH), Solana (SOL), and XRP also saw declines, mirroring the overall market trend. This tumult led to a 1.84% decrease in the total market capitalization of cryptocurrencies, bringing it down to $2.11 trillion. Simultaneously, the total trading volume in the cryptocurrency market dropped by 23.36%, registering $70.18 billion.
Bitcoin’s Performance Review
Bitcoin’s value decreased by 1.46% in the past 24 hours, trading at $60,512. The intraday low and high were $59,587 and $61,464, respectively. Bitcoin’s market dominance slightly increased to 56.48%, up by 0.09%. Additionally, Open Interest in Bitcoin futures rose by 1.78%, reaching $28.18 billion. Spot Bitcoin ETFs saw an outflow of $89.73 million, indicating weakening price movements.
Altcoins’ Current Status
Ethereum, the leading altcoin, fell by 3.27% over the past 24 hours, trading at $2,604. The intraday lowest and highest levels were $2,555 and $2,706, respectively. This decline was due to significant sales by major ETH investors on Coinbase and Kraken exchanges. Solana lost 3%, trading at $154.20, with a low of $151.23 and a high of $159.57. The interest in spot Solana ETFs in the US underlines the need for regulatory relaxation. XRP dropped by 4.09%, trading at $0.5912, with intraday lows and highs of $0.569 and $0.6164, respectively.
Key Statistics to Consider
– Bitcoin’s market dominance increased to 56.48%.
– Ethereum saw a significant drop due to sales by major investors.
– Solana’s value fell, highlighting the demand for regulatory easing.
– XRP and other memecoins registered considerable losses.
Memecoins also faced declines, with Dogecoin (DOGE) falling by 2.01% to $0.1038, and Shiba Inu (SHIB) dropping by 0.97% to $0.00001397. Other memecoins like PEPE, WIF, and BONK saw losses between 3% and 4%. On the flip side, top gainers included Helium (HNT), which surged by 15.15% to $6.79, Cronos (CRO) rising by 13.15% to $0.09441, Zcash (ZEC) increasing by 12.56% to $41.06, and Toncoin (TON) climbing by 8.51% to $6.70. Conversely, the top losers were Popcat (POPCAT) with a 9.27% drop, trading at $0.573, Brett (BRETT) with a 5.81% fall to $0.09837, and Render (RENDER) declining by 4.74% to $4.80.