The crypto prices today look to end the week in a notable downtrend. Since this week, the majority of the coins have traded in red, raising concerns among market participants. The crypto heat map currently looks like a bloodbath with most coins experiencing significant decline. During the week, we saw major updates like the FOMC meeting and substantial Bitcoin movements that shaped the movement of the market.
While the sentiment surrounding the market remains positive, the price of the coins tells otherwise. Bitcoin has touched a bottom of $62k in the last 24 hours and ETH previously dropped below $3,100. The memecoin sector has seen a 3.2% decline in total value with DOGE and SHIB at the front. Notably, the total crypto market cap has lost 0.75%, now at $2.29 trillion. For our price update today, we will examine the top trending cryptocurrencies and see how they have reacted in the last 24 hours
Top Crypto Prices Updates
The price of BTC has shown high volatility within the week. After touching a high of $69k on July 29, BTC has dropped more than 4.36% since that time. According to fresh data, the flagship cryptocurrency is trading at $64,310, representing a 0.16% loss in one day. Earlier today, BTC fell to $62,271 but has quickky regained the $64k mark. Also, as of August 1, the total daily net inflow of BTC ETF topped $50.64 million according to Soso Value data.
Source: CoinMarketCap
Ethereum has not lived up to the expectations of investors following the approval of the spot ETH ETF by the SEC. Since the launch, the price of ETH has taken a nosedive, losing the important $3,400 mark. Over the last 24 hours, ETH has dropped as low as $3,080 but has since climbed back above $3,100. At press time, ETH traded at $3,152 signifying a 0.84% decline with a one-day trading volume of $18.2 billion.
Other Altcoin Prices
The alstcoin market is not left out of the downtrend. The price of Solana has plummeted by 3.90% to $161.81. Additionally, SOL had its bottoms and tops at $158.33 and $171.16 respectively. In the weekly chart, SOL has crashed by 8.56%, however, recording a 10.15% increase in the last 30 days.
The price of XRP has dropped below the $0.6 mark. XRP nosedived by 5.75% to trade at $0.5717 over the last day. Interestingly, XRP has traded between $0.5619 and $0.6124 in one day.
Meanwhile, Notcoin (NOT) has dropped by 2.40% to $0.0124, maintaining a bottom and top range of $$0.01138 and $0.01299 respectively. Also, Toncoin (TON) has declined by 2.77% to $6.58. Its one-day lows and highs were $6.53 and $6.86.
Dogecoin (DOGE) and Shiba Inu (SHIB) is leading the memecoin downtrend today. While DOGE saw a notable 3.23% loss, SHIB recorded a decline of 3.19%. Consequently, DOGE and SHIB are now trading at $0.117 and $0.0000154 respectively. Additionally, PEPE has lost 4.96% of its value, now changing hands at $0.00001008.
Top Trending Crypto Gainers Today
AirDAO (AMB) climbed 15.37% to reach $0.00947
Frax Share (DRV) surged by 14.07% to $2.456
Gifto (GFT) gained 11.32% to $0.02774
Aave (AAVE) added 7.78% to $115.90
SKALE (SKL) moved up by 7.25% to $0.05344
FTX (FTT) spiked by 6.62% to $1.42
The beginning of the week saw most crypto trading in green. However, the momentum has faded toward the end of the week and the majority of the tokens have now lost previous gains. The general market sentiment remains positive, however, the price tells a different story. It will be interesting to watch how it unfolds.
The post Crypto Price Update August 2: BTC at $64K, ETH Drops to $3,100, SHIB and DOGE Leads and Global Memecoin Downtrend appeared first on Coinfomania.