On August 24, 2024, the cryptocurrency market saw notable fluctuations, with some coins experiencing significant gains. On the other hand, some other coins faced substantial liquidations. According to crypto media outlet PHOENIX, $POPCAT emerged as the top performer. It has showed a remarkable price bounce of 29.88%. This impressive surge was the highest among all cryptocurrencies tracked today.
Daily Summary on August 24, 2024$POPCAT $FET $WIF $ENA $SUI $BTC $ETH $SOL $SUN $DOGE#dailysummary #DeFi #Crypto pic.twitter.com/pAprHgSKZi
— PHOENIX – Crypto News & Analytics (@pnxgrp) August 24, 2024
Contrary to $POPCAT, Bitcoin and Ethereum Lead Liquidations with $48.64M and $45.1M
After $POPCAT, other cryptocurrencies also received high boosts in their prices. From the reactions above, Fetch.ai ($FET) rose to an increase of 21.72% due to increased adoption and investment in the company’s decentralized artificial intelligence services. Moreover, $WIF was up by 17.78%, $ENA by 16.01%, and $SUI by 15.04%. These movements show an indication of positive performance for a number of digital assets these movements.
The data regarding the liquidation value shows that some of the biggest cryptocurrencies have incurred more considerable losses in terms of prices. Bitcoin ($BTC) topped liquidations with $ 48.64 million. It was followed by Ethereum ($ETH) with $45.1 million in liquidations, signifying engorged trading volume and market pressure for these premier coins.
Cryptocurrency Market Sees Mixed Results with Major Gains and Liquidations
Other significant liquidations included Solana ($SOL) that saw its positions shut at $8.63 million. Assets such as $SUN and $DOGE experienced liquidations worth $3,920,000 and $2,930,000, respectively. These values imply that whereas certain coins were appreciating in value, others had high levels of supply and pressure to adjust in the market.
On the whole, the cryptocurrency market was characterized by both risk and potential, reported by PHOENIX, on August 24. While $POPCAT and other small-cap altcoins skyrocketed, large-cap coins like Bitcoin & Ether went through intense liquidations. This means that the cryptocurrency market is ever-evolving as there are increasing prices for some assets and extremely high liquidations for others.
