Today's cryptocurrency market has seen a significant decline in prices for most key assets.#Bitcoin (BTC) fell 2.28% to $59,618.44, indicating a decline in market dominance to 55.79%. This is in contrast to yesterday, when Bitcoin was higher and its dominance was 56.07%. The decline could be attributed to investors taking profits after the recent rally above $61,000, as well as general market volatility.
#Ethereum (ETH) also saw a 2.92% decline to $2,600.69. ETH was higher yesterday, reflecting the volatility in the altcoin market. Despite the positive outlook for ETH in the long term, the short-term decline could be due to investors exiting risk assets amid general uncertainty in the markets.
#binance Coin (BNB) fell 1.42% to settle at $561.08. This is a significant decline after yesterday's rise to $571.96. Such price action may indicate a correction after a sharp rise, which was driven by interest in altcoins against the backdrop of Bitcoin stabilization.
#Solana (SOL) is also down 2.53% to $143.41, further confirming that the altcoin market is under pressure today despite recent positive moves.
The morning of August 21 brought several significant events in the world of cryptocurrencies. Here are the most interesting of them:
Germany's Federal Financial Supervisory Authority (BaFin) has raided crypto ATMs, seizing 13 machines in 35 locations across the country. Media reports say BaFin found the installation of the machines illegal because the operators failed to register the devices and broke the law when exchanging euros for cryptocurrency. The operation also involved the Federal Criminal Police Office, local law enforcement agencies, and the German Bundesbank.
Cryptocurrency exchange Binance is once again at the center of a lawsuit. This time, the company’s former CEO Changpeng Zhao (CZ) and the exchange itself are facing a class action lawsuit from three investors. They claim their assets were stolen and accuse Binance of failing to prevent money laundering. The plaintiffs claim that the stolen coins ended up on Binance’s platform, which calls into question the effectiveness of its blockchain analytics. As a reminder, Zhao is already in prison on a number of other charges.
Meanwhile, Arkham analysts have recorded a major movement of funds from the collapsed crypto exchange Mt. Gox. Trustees transferred about 12,000 bitcoins, valued at $709 million, to an unknown wallet. Another 1,264.69 bitcoins, worth $74.77 million, were sent to the exchange's cold wallet. These transactions may indicate that payments to creditors who have been waiting for their funds since 2014 are about to be completed.
