The crypto market is in red today as major tokens lost an average of 5% in the last 24 hours. In fact, the overall market valuation is down by 4% to $3.77 trillion despite a 10% surge in the overall trading activity which sits at $192.06 billion in volume over the same period.
Bitcoin and Altcoins Lost Gains after Hitting New Highs
For instance, Bitcoin is trending downward after it hit a new all time high of $124 on Aug 12. Since then, the token has been dropping with strong momentum and failing to break structure to the upside.
At the time of writing this report, Bitcoin is trading for $108,840, down 3.69% from yesterday, despite a modest 7.75% rise in trading activity which resulted in $68.72 billion in trading volume. With that, that market capitalization has dropped by 3.77% and now sits at $2.16 trillion.
Cronos CRO saw the largest dip so far with a 10% drop in 24 hours. At the time of writing this report, CRO is trading for $0.28, a major drop from its intraday high of $0.34 which it was trading during the Asia trading hours.
At the same time, trading activity is down by 52.01% from the previous day. This led to a $1.16 billion in trading volume with $13.66 billion in trading volume, according to CoinMarketCap.
PYTH Surge 17% in 24 hours
Despite the overall drawdown, some altcoin, especially Pyth Network, have managed to gain an incredible 17% in the last 24 hours. The token is currently trading for $0.2192 and leading the top crypto gainers on CoinMarketCap.
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This is thanks to a massive 422.85% surge in its trading activity which saw $2.53 billion in volume. The market cap currently sits at $1.26 billion, up 16.68% in 24 hours.
Trending Cryptos Today
- Bitcoin (BTC)
- Ethereum (ETH)
- Pyth Network (PYTH)
- Wormhole (W)
- Chainlink (LINK)
Top Gainers & Losers Today
GainerLoserPyth Network (PYTH): +17.02%SPX6900 (SPX: -12.63Pump.fun (PUM): +10.3%Cronos (CRO): -12.11%Pi (Pi): +1.97%Fartcoin (FARTCOIN): -9.70%Four (FORM): 1.96%Pendle (PENDLE): -9.37%
Market Sentiments
According to CoinMarketCap, the Fear and Greed index is at 47, which is neutral. This means investor sentiment is steady. Now lets check what some specific coins faced today.
The recent data from Coinglass show that about $545.87 billion were lost in total. $453.34 million from that amount came from traders who took long positions while $92.58 million came from short. Meanwhile, 143,175 traders were liquidated in the last 24 hours.
Also Read: Michael Saylor Faces Backlash as His Bitcoin Premium Sinks
Disclaimer: The Crypto Times does not endorse or promote this digital asset in any manner. This article was created only for educational purposes. Make sure to “DYOR” as the market is highly volatile. New positions should be done by traders being careful and awaiting volume-backed breakouts.
