The largest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), were trading in the green Thursday morning, while Solana emerged as the most searched coin.
The global crypto market cap is up 1.93 percent to $1.08 trillion as of 8:50 a.m. However, according to Coinmarketcap data, global crypto volume fell 14.45 percent to $66.18 billion.
The trading volume in the decentralized finance coin space is about $6.03 billion, or 9.11 percent of the crypto market’s total 24-hour volume. The volume of all stablecoins is $60.62 billion, or about 91.6 percent of the total crypto market volume over the past 24 hours.
Bitcoin
From 8.50 a.m., Bitcoin surged 1.43 percent to $23,139.53 and currently commands a 41.04 percent dominance of the crypto market.
The CEO of MicroStrategy, the world’s largest company bitcoin holder, Michael Saylor, said he will step down from his position and serve as executive chairman to better focus on buying bitcoin. “I believe splitting the roles of Chairman and CEO will enable us to better track both of our corporate strategies of acquiring and holding Bitcoin and growing our enterprise analytics software business…. Phong will be empowered as CEO to oversee overall company operations,” he said, as quoted by Investing.com
It appears that Bitcoin holders took this news with mixed feelings as the price of Bitcoin surged from its bottom of $22,835 on Aug. 3 to $23,560 and then slowly declined, finally settling around $23,100. Around 5:04 am on August 4th, bitcoin price hit an intraday low of $22,808.
ether
Ethereum (ETH) was priced at $1,653.85 this morning, up 2.74 percent.
According to a recent report by Nansen, around $2.7 billion was spent by Ethereum holders minting non-fungible tokens (NFT) on the Ethereum blockchain. The Nansen report also found that 10.88.888 wallet addresses minting NFT on Ethereum were unique.
In terms of price analysis, Ethereum has not taken any significant steps. Ethereum was at $1609 at 8:50 a.m. on August 3 and hit a high of $1677 at 5:54 p.m. and then fell to a low of $1608 at 4:05 a.m. on August 4. Its trading volume fell 17.82 percent to $16,515,110,881.
Other Altcoins
Solana (SOL) appears to be the most searched coin on Coinmarketcap this morning. Solana’s price rose 0.6 percent to $39.31.
Just 4 hours ago it was reported that nearly 8000 Solana wallet addresses created in third-party wallet app Slope have been emptied. Solana researchers clarified that although thousands of wallets were emptied, the exploit was limited to one Solana wallet and they are actively investigating the matter, Cryptobriefing reported.
Cardano (ADA) is up 1.27 percent to $0.5069. 24-hour trading volume for ADA fell 24.36 percent to $513,564,797.
Binance (BNB) is up 6.84 percent to $302.11. Its 24-hour trading volume increased by 20.83 percent to $2,177,333,667.
This exploit has been isolated to a wallet on Solana, and hardware wallets used by Slope remain secure.
While the exact details of this are still being investigated, private key information was inadvertently submitted to an application monitoring service. 2/3
— Solana Status (@SolanaStatus) August 3, 2022
meme coins
Dogecoin (DOGE) is up 0.85 percent to $0.06703. The 24-hour trading volume fell 19.82 percent to $265,045,974.
Shiba Inu (SHIB) recently launched its NFT gaming service, offering its holders another use case for the token. Shiba Inu (SHIB) is up 1.37 percent to $0.00001193.
Decentralized Finance (DeFi)
Yearn.Finance (YFI) was up 2.08 percent to $10,889.01. The 24-hour trading volume fell 34 percent to $99,234,994.
Avalanche (AVAX) is up 3.47 percent to $23.69 and its 24-hour trading volume is down 4.7 percent to $574,540,355.
Aave (AAVE) traded up 3.74 percent at $97.27 and its 24-hour trading volume was down 4.2 percent to $213,889,120.
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.