On Friday, the bitcoin price crossed the $45,000 mark in the market. According to information from CoinMarketCap, the crypto coin has been trading green in the last seven days with a market cap of $848.41 billion. Recently, the price of bitcoin has been bouncing between an all-time high of $46,232, down nearly 2%. With that in mind, however, it should be noted that the bitcoin price has risen 53 percent this year alone, despite the volatility it displays. Bitcoin’s dominance in the market at the time of this article stood at 44.84 percent, with a gain of 0.24 percent over the day. On August 13, the price of bitcoin was down 2.06 percent over the course of 24 hours to $45,193.44. The digital coin was trading at 11.54 per cent in a span of seven days.
The total market cap of several crypto coins hit the $2-trillion mark, after bitcoin prices fell below the $30,000 mark last month. This comes after a three-month drop from $2.12 trillion in mid-May, according to a report by CoinGecko. The surge comes after bitcoin as well as some of the top altcoins in the market saw a jump over the past week. Bitcoin hit an all-time high on Wednesday as it touched $46,500. This market makes up for the cryptocurrency’s 19 percent jump in the past three months. Meanwhile, ether also rose to 21 percent, with a price of $3,200. At the time of this article, Ethereum was priced at $3,124.63 on CoinMarketCap.com, a drop of 3.16 in the past 24 hours. However, the altcoin maintained its trend of green trading during the past week, rising 12.54 percent.
The global crypto market capitalization was $1.89 trillion at the time of this article, and the overall market was down 2.72 percent compared to the previous day. The total volume of the crypto market in the last 24 hours was $116.41 billion, which is a decrease of 10.95 percent according to CoinMarketCap. Total DeFi was listed as $12.37 billion, or 10.63 percent of the total crypto market’s 24-hour volume. The volume of all stablecoins stood at $91.80 billion which was 78.86 percent of the total market volume in the last 24 hours.
Speaking on the cryptocurrency market trends last week, Edul Patel, CEO and Co-Founder of Mudrex, said, “The spectacular rally that existed across the crypto spectrum over the past week was halted. The crypto spectrum witnessed massive profit-booking in the last 24 hours. It was a huge profit booking session, and it was evident as the overall crypto market capitalization declined by more than 5%, and trading volume increased tremendously. Bitcoin investors are concerned that a strong support level will reach the $42,000 level. The lack of territory could push prices down significantly. Altcoins repeated the decline on modest signs of selloff in BTC. The largest altcoin, Ether, which was in a major bullish zone, also declined.”
Siddharth Menon, COO of WazirX, said, “The altcoin market has seen rejections of $1.05 trillion several times. Exiting this level will see Altcoins rally as we saw in the first quarter of 2021. Some of the strongest are DEFI and NFT based The early signs are clearly visible in the projects. Some tokens like AXS and IOTEX have made new ATH (All Time High). One needs to be very cautious while investing in Altcoins as they tend to be the most volatile.”
Menon said, “The market is looking good after the deep correction that started in May 2021. As a crypto enthusiast, I am eagerly waiting for the market to create new ATH.”
read all Breaking Newshandjob breaking news And coronavirus news Here
.