The crypto market pulled back on August 30 with the global market cap dropping to $3.76 trillion, slipping 0.99% in just one day. Daily volumes also weakened, sliding 9.66% to $166.42 billion.
Bitcoin (BTC), which is the top cryptocurrency by market cap, led the retreat, trading at $108,455 after losing 1.15% in 24 hours. It recorded $70.6 billion in turnover.
Top Gainers Defy The Weak Market
Despite Bitcoin dropping, some tokens gained during the day. MemeCore (M) was the top performer, soaring nearly 50% to reach $0.70, thanks to $54 million in trades. Conflux (CFX) also saw an uptick, gaining 8.84% to hit $0.19, with $134 million in trading volume.
In addition, Story (IP) climbed 7.46% to $6.49. The meme coin Bonk (BONK) jumped 7.29% to $0.0000219, with $624 million in turnover, making it one of the most actively traded tokens. OKB (OKB) also made its mark, increasing by 6.19% to $175.80 with $300 million in volume.
Losers Lead as Trending Tokens Rally
Several major tokens also lost ground. Pyth Network (PYTH) led the slump, crashing 14.61% to $0.1954. Raydium (RAY) fell by 7.23% to $3.40. Solana (SOL) dropped 5.03% to $198.84, extending its recent weakness. Jupiter declined 3.75% while Jito shed 3.68%.
The trending coins on the other side had a different outcome. Memecore was again at the top, followed closely by Pi Network (PI), which managed to gain a modest 4.1%, landing at $0.37. Trusta shot up 95.1%, climbing to $0.133, while SKALE (SKL)also jumped 31.78% to trade at $0.0347.
Market Sentiment And Outlook
In terms of the market view, the fear and greed index is now sitting at 39, indicating that investors are more on the fearful side. While the Fear and Greed Index is at 39, Bitcoin has a dominance of 57.5% and Ethereum (ETH) holds a 14% share.
On the other hand, the Altcoin Season Index is at 58, which further indicates that the market is looking more like a Bitcoin season rather than an altcoin rally.
Open interest showed strength, with perpetuals climbing to $978.74 billion against $3.87 billion in futures. Volatility also stayed high, with Bitcoin at 41.06 and Ethereum at 73.92. Hence, traders face a risky backdrop even as Ethereum gas fees remain steady.
Bitcoin weakness kept the market under pressure, but selective altcoins delivered sharp breakouts.
Also Read: El Salvador to Distribute Bitcoin Reserves Across Multiple Wallets
