Cryptocurrency Market Update: Volatility Continues
The week did not end on a positive note for the crypto markets. The sector is showing signs of continued volatility, with a handful of top assets holding steady.
Bitcoin, XRP and Solana are down less than 1% in the past 24 hours. Toncoin, on the other hand, was one of the rare coins that appreciated in value on Thursday.
The remaining top cryptocurrencies are having a tough time in the market. Even most altcoins are now struggling to find a solid footing. So, here are the daily cryptocurrency market updates along with the latest trading happenings.
Bitcoin
The industry leader has not had the best of months as August brought troubles for BTC. In less than a month, the coin has fallen from the $70,000 mark to $58,000.
In the past 24 hours alone, Bitcoin’s market value has lost 0.61%. Currently trading at $58,222, the price is gradually increasing. Its 7-day performance fell by 4.37%, and its market price is larger.
Recently, Washington transferred $594 million in Silk Road Bitcoin to Coinbase. Likewise, there was a $67 million worth of changes in BTC wallet activity.
Ethereum
The world’s second-largest cryptocurrency has fallen behind Bitcoin over the past few weeks. The cryptocurrency has lost about 2% in value over the past 24 hours and is currently trading at $2,600.
Its 7-day performance also fell 2.47%. On the ETF front, Ethereum showed neutral outflows across 6 ETFs. However, Grayscale’s ETHE lost $42.5 million.
Other Top Cryptocurrencies
TON’s uncharacteristic behavior once again surprised the market. The cryptocurrency has gained 1.48% in value over the past 24 hours. It is currently trading at $6.80 and is showing a gradual upward trend. Its 7-day performance also showed a growth of 6.86%. The Qubetics whitelist recently joined the Toncoin network, helping the token gain additional exposure in the market.
ADA has been struggling over the past few weeks and the story continues this week. The coin is known for its stability, but has lost 6.34% in value over the past seven days. Cardano is currently trading at $0.32, down 3.57% in the past day alone.
Fantom Network’s native currency, FTM, has made rapid progress in the market recently. The coin gained 6.11% over the past day to reach $0.39. TRON FTM still attracts investors with its continued growth despite market fluctuations.
