While volatile price movements continue in the cryptocurrency market, Bitcoin (BTC) stands out as the cryptocurrency most affected by these fluctuations. Over the past week, BTC has fluctuated in a wide range without finding a clear direction. Struggling to stay above the $ 60,000 level, Bitcoin has failed to do so, creating significant impacts on altcoins. So, what is happening in the market's volatile altcoins as of August 16?
Following the events centered in Japan last week, Bitcoin experienced a sharp decline and fell to $ 48,800. After this decline, BTC quickly recovered and rose above $ 60,000 again, but this rise was not sustainable and the price began to fluctuate again. It is currently observed that BTC is moving rapidly between $ 62,000 and $ 58,000. After experiencing a 4.39% decrease yesterday, BTC decreased by 0.43% today to $ 58,249. With this decrease, the market volume fell below $ 1.15 trillion and fell to $ 1.149 trillion. However, an increase was observed in the 24-hour trading volume; the trading volume increased from $ 31.7 billion to $ 35.7 billion. This shows that investors are eager to buy to take advantage of low prices.
On the altcoin side, while the effects of BTCâs decline are being felt, some altcoins continue to remain in positive territory. Ethereum (ETH), although continuing to outperform BTC on a weekly basis, experienced a 1.86% drop today, dropping to $2,601. BNB fell by 0.55% in the last 24 hours to $518. Solana (SOL) is trading at $142.8, down 1%.
Ethereum (ETH) is trading at $2,601, with trading volumes remaining stable.
BNB has fallen to $518 and has fallen by 0.55% in the last 24 hours.
Solana (SOL) is trading at $142.8.
TON, which emerged as the winner of the day, continued its weekly rise of 7.58% and reached $6.85 with a 2.34% increase in the last 24 hours. While TON's market volume increased to $17.2 billion, its transaction volume is at $466 million. This situation creates some anxiety among investors despite TON's strong performance.
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I EXPLAIN IN DETAILED.
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