Crypto Price Update August 1: BTC Slides to $64K, ETH at $31,00, Major Altcoins Dip
Today’s crypto prices have exhibited a major downtrend compared to the previous day. An overview of CoinMarketCap’s crypto heat map shows that most coins are trading in red. The days after the FOMC meeting have ignited uncertainties in the market leading investors to sell off their holdings. Consequently, millions of dollars have been liquidated from the market in 24 hours.
The positive sentiment surrounding the market has dropped notably over the last day, resting at ’52’ signaling ‘neutral’, a 9-point decline from yesterday’s 61. Within this time, the price of BTC has dropped as low as $63,584 and ETH has seen a bottom of $3,139. Notably, this has triggered a 3.18% drop in the total market cap to $2.31 trillion.
Top Crypto Price Update
The outcome of the FOMC meeting along with the recent BTC transfer by the defunct Mt. Gox exchange has increased the selling pressure on Bitcoin. Analysts previously predicted that Bitcoin’s volatility is expected to intensify before the meeting and shortly after. At the time of writing, Bitcoin exchanged hands at $64,578, signifying a 2.41% decline over the last day. Moreover, the spot Bitcoin ETF saw a daily total net inflow of $298.93k according to Soso Value data.
The price of Ethereum (ETH) has dropped far below the critical $3,400 mark. Even though the SEC’s approval of 9 spot ETH ETF was anticipated to catalyze an upward movement in the price of the coin, it has failed to do so at this time. In the last 24 hours, ETH has plummeted by 3.78% to trade at $3,190. The total daily net inflow for ETH ETF as of July 31 was $77.21 million.
Other Altcoin Prices
Other major altcoins have experienced significant price reductions over the last day. The price of Solana (SOL) has crashed by 7.72% to $169.29. Moreover, SOL had its bottoms and tops at $166.23 and $183.95 respectively. An overview of Solana’s weekly chart shows that the coin has dropped by 0.70% in the last seven days.
XRP, the top gainer of yesterday has nearly lost all its accumulated gains. The XRP price nosedived by 6.50% to trade at $0.6071. Interestingly, XRP has traded between $0.5988 and $0.6548 in one day.
Meanwhile, Binance Coin (BNB) has dropped by 2.67% to $571.61, maintaining a bottom and top range of $562.53 and $592.35 respectively. Also, Toncoin (TON) has dropped marginally by 0.90% to $6.80. Its one-day lows and highs were $6.63 and $6.87.
On the memecoin front, Dogecoin (DOGE) and Shiba Inu (SHIB) have declined in the last 24 hours. While DOGE saw a notable 4.0% loss, SHIB recorded a decline of 2.65%. Consequently, DOGE and SHIB are now trading at $0.121 and $0.00001592 respectively.
Top Trending Gainers Today
Neiro Ethereum (NEIRO) climbed 81.17% to reach $0.2016
Curve DAO (DRV) surged by 8.36% to $0.2751
Gifto (GFT) gained 5.01% to $0.02520
Convex Finance (CVX) moved up by 3.28% to $3.237
The beginning of the week saw most crypto trading in green. However, the momentum has faded and the majority of the tokens have lost previous gains. While the general market sentiment remains neutral, it will be interesting to see how the market will end the week.
The post Crypto Price Update August 1: BTC Slides to $64K, ETH at $31,00, Major Altcoins Dip appeared first on Coinfomania.
