The global crypto market declined on Monday. The total market cap was down by 3.93 per cent to $2.05 trillion while the total trading volume was up by 52.86 per cent to $59.55 billion. Bitcoin BTC was the most trending. It was down by 4.08 per cent to $58,548.28. Its 24-hour trading volume was $25.07 billion.
Sui SUI was the top gainer. It was up by 2.28 per cent. Its 24-hour trading volume was $369.94 million. Akash Network AKT was the top loser. It was down by 11.31 per cent. Its 24-hour trading volume was $11.36 million.
DeFi was down by 2.70 per cent to $3.04 billion, Coinmarketcap.com reported.
Sathvik Vishwanath, Co-Founder & CEO, Unocoin said, "Bitcoin's Market Value to Realized Value (MVRV) falling below its 365-day moving average may indicate potential further declines or a bear market, as has been the case in past declines. Short holders bore the brunt of the recent market crash, realizing 97% of losses. At the same time, the inflow of stablecoins on exchanges increased by almost $2 billion, indicating that investors are buying the dip significantly. With unemployment rising and recent comments from Federal Reserve officials, a rate cut in September seems likely. Such a move could boost risk assets such as bitcoin following recent rate cuts by other major central banks. The coming week will be crucial as Bitcoin tries to recover from its significant decline. XDC network (XDC/INR) will be available for Indian traders at unocoin crypto exchange starting from today ."
Cryptocurrency Prices
Bitcoin: Bitcoin BTC was down by 4.08 per cent to $58,548.28. Its 24-hour trading volume was 25.07 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 56.3 per cent.
Ethereum: Ethereum ETH was down by 3.96 per cent to $2,545.10 from the previous day. Its 24-hour trading volume was $14.80 billion. Ethereum’s market dominance was 14.9 per cent.
Tether: Tether USDT was trading at $1.00. It was down by 0.02 per cent. Its 24-hour trading volume was $45.14 billion. It is ranked third on Coinmarketcap.
Other Altcoins
Solana SOL was down by 7.36 per cent to $143.73. Its 24-hour trading volume was $2.62 billion.
Avalanche AVAX was trading at $20.69, down by 5.79 per cent. Its 24-hour trading volume was $190.81 million.
Cardano ADA was down by 5.44 per cent to $0.3315 from the previous day. Its 24-hour trading volume was $215.89 million.
Meme Coins
Dogecoin DOGE was down by 6.19 per cent, with a 24-hour price of $0.1021.
Shiba Inu SHIB was down by 5.70 per cent to $0.00001352.
Decentralised Finance
DeFi coin was trading at $0.02342, down by 7.44 per cent.
Yearn.Finance YFI was down by 4.65 per cent to $4,953.54 in the last 24 hours. Its 24-hour trading volume was $9.56 million.
