The beginning of August witnessed a spur of activity within the crypto sector. While most of the market attention was focused on the first-week market crash, regulatory activities, and notable partnerships took place. Meanwhile, this following week exhibits price revivals from key cryptocurrencies as Bitcoin retracted to $60K. Leading altcoin
The overall crypto market showed modest declines in market cap and daily trading volume in the last 24 hours. Leading cryptocurrencies such as Bitcoin and Ethereum showed increased volatility in price activity over the past day. One of the leading altcoins, Toncoin, recorded significant upward movements after recent dips. Notably,
Leading altcoin Ethereum found itself falling to the $2K level during the recent market price dip. In the last few days, the token following Bitcoin showed recovery signs but has struggled to break key resistance levels. Meanwhile, the community witnessed crucial regulatory activity with announcements from the FCA. Notably, Ethereum
The percentage of supply staked ETH hit a record high of 27.95%. This follows a little decline two weeks earlier, on July 21, when it fell from 27.58% to 26.82%—a decline of 0.76%. Not only has it recovered since then, but it has also exceeded its prior records. Significantly, there
Leading on-chain analyst, CryptoQuant’s author ‘binhdangg’ observed that 60% of the top 50 cryptocurrencies have lost their 2024 gains. Amid increasing liquations, leading tokens have shown significant price declines. Meanwhile, dog-themed meme coin Shiba Inu has exhibited notable price hikes in the last 24 hours. According to CMC data, the
On August 5, the decentralized finance (DeFi) protocol Aave showed notable strength amid a severe crypto market plunge. Aave generated $6 million in revenue from decentralized finance liquidations. This spike in revenue is a response to economic events, like the interest rate hike by the Bank of Japan and the
For the first time to date, DEXs built on the Solana network surpassed those built on Ethereum, in terms of trading volume for the month of July. Solana had more daily trading volume than Ethereum for the whole month of July, according to DeFiLlama statistics for DEX volumes by blockchain.
In the Q2 of 2024, the transaction volume on the Ripple’s XRP Ledger (XRPL) dropped significantly, as reported in the latest XRP Report. The XRPL ecosystem is also seeing a similar drop, and it is part of a larger trend impacting key blockchain protocols. With a decline of 65.6% from
The crypto market is anticipating potential bearish momentum as the current market dynamics stay on the borderline of the bearish zone. The tokens are fluctuating and settling back to their recent lows. Among them, the native token of the popular cross-chain bridge platform, Wormhole (W), has declined by 2.40% over
The cryptocurrency market is currently experiencing a bearish phase, with the global crypto market cap dropping by 3.17%. Despite this, trading volume has increased by 21%. Bitcoin has hit a 13-day low of $63,573.63, declining by 3% in the past 24 hours. This downturn has affected altcoins, which have fallen
