Altcoin
BTC Slides to $64K, ETH to $31K, Major Altcoins Drop
Cryptocurrency prices today showed a significant downtrend compared to the previous day. An overview from CoinMarketCap cryptographic heat map shows that most currencies are trading in the red. The days following the FOMC meeting have sparked uncertainty in the market, causing investors to sell their securities. As a result, millions of dollars were liquidated from the market in 24 hours.
The positive sentiment surrounding the market has dropped significantly over the past day, stopping at ’52’ signaling ‘neutral’a 9-point decline from yesterday’s 61. In this time frame, BTC’s price dropped to as low as $63,584 and ETH saw a low of $3,139. Notably, this triggered a 3.18% decline in total market cap to $2.31 trillion.
Source: Alternative
Update on the prices of the main cryptocurrencies
The outcome of the FOMC meeting together with the recent transfer of BTC from defunct Mt. Gox exchange has increased selling pressure on Bitcoin. Analysts had previously predicted that Bitcoin volatility would intensify ahead of the meeting and immediately after. At the time of writing, Bitcoin was trading at $64,578, which means a decline of 2.41% over the past day. Additionally, the spot Bitcoin ETF has seen a total daily net inflow of $298.93k according to Soso Value Data.
THE Ethereum price (ETH) has fallen well below the critical $3,400 mark. While the SEC approval of 9 spot ETH ETFs was expected to catalyze an upward move in the coin’s price, it has failed to do so at the moment. Over the past 24 hours, ETH has fallen 3.78% to trade at $3,190. Total daily net inflow for ETH ETFs as of July 31 was $77.21 million.
Other Altcoin Prices
Other major altcoins have seen significant price declines over the past day. Solana (SOL) price has dropped by 7.72% to $169.29. Additionally, SOL has seen its lows and highs at $166.23 and $183.95, respectively. A look at Solana’s weekly chart shows that the coin has dropped by 0.70% over the past seven days.
Exchange rate riskyesterday’s top gainer has almost lost all its accumulated gains. XRP price has dropped by 6.50% to trade at $0.6071. Interestingly, XRP has traded between $0.5988 and $0.6548 in a day.
Meanwhile, Binance Coin (BNB) dropped 2.67% to $571.61, holding a low and high range of $562.53 and $592.35, respectively. Also, Toncoin (TON) dropped marginally by 0.90% to $6.80. Its daily lows and highs were $6.63 and $6.87.
On the memecoin front, Dogecoin (DOGE) and Shiba Inu (SHIB) have been down over the past 24 hours. While DOGE has seen a notable loss of 4.0%, SHIB has seen a decline of 2.65%. As a result, DOGE and SHIB are now trading at $0.121 and $0.00001592 respectively.
Top Trending Earnings Today
Neiro Ethereum (NEIRO) surged 81.17% to hit $0.2016
Curve DAO (DRV) rose 8.36% to $0.2751
Gifto (GFT) gained 5.01% to $0.02520
Convex Finance (CVX) rose 3.28% to $3,237
The start of the week saw most cryptocurrencies trading in the green. However, the momentum has faded and most tokens have given up their previous gains. While the overall market sentiment remains neutral, it will be interesting to see how the market ends the week.