Will Altcoins Resume Dips or Attempt a Recovery?
Release: 2024/08/19 19:39 Reading: 723
Altcoin Market Slumps, Sentiment Remains Neutral
The altcoin market capitalization has witnessed a decline to $874.60B within the past week, while the fear and greed index remains at a neutral level of 43.
Major Cryptocurrencies Exhibit Bearish Trends
Bitcoin (BTC) and Ethereum (ETH), the top two cryptocurrencies by market cap, continue to fluctuate within bearish ranges. BTC remains within the $58K-$60K band, while ETH hovers around $2.6K. Altcoins are experiencing a sustained downtrend, facing selling pressure and limited buying interest.
Altcoin Sentiment Reverses
After a promising uptrend earlier, the altcoin market has succumbed to bearish sentiments. Several notable assets have reversed their gains, sparking concerns among investors.
Total Crypto Market Cap and Volume
The total crypto market capitalization stands at $2.035 trillion, with the altcoin market accounting for $874.607 billion. Over the past 24 hours, crypto market volume has surged by 31.59% to $48.19 billion.
Notable Coin and Token Performance
Ethereum (ETH)
ETH, the leading altcoin, has depreciated by 23.14% over the last month. After a bullish start to August, it plunged below $2.2K, but has since recovered slightly by 2.73% over the past week. ETH currently trades at $2,628, up 0.88% over the past 24 hours.
Dogwifhat (WIF)
WIF, the dog-themed memecoin, has entered bearish territory, dropping 17.52% within the past week. Over the past 30 days, it has declined by 44.45%. It currently trades at $1.37, marking a 3.06% decrease.
Toncoin (TON)
TON, ranked eighth among altcoins, has slipped by 5.66% over the past month. However, it has rebounded by 13.48% within the last seven days, currently trading at $6.80 with a 5.73% gain.
Solana (SOL)
SOL, the fifth largest crypto, has experienced a significant drop of 11.67% over the past month, falling from $193 to $112. Within the last week, it has declined by 0.82%. SOL currently trades at $143, exhibiting a 0.70% increase.
Other Altcoins
DOGE and XRP have also witnessed price fluctuations. DOGE remains in a bearish trend, trading at $0.1002 with a 2.09% decline. XRP has gained 0.25% and is up 0.73% over the past week.
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