Crypto Market Cap Adds $200B in Days as Ethereum (ETH) Taps $4.2K: Weekend Watch
Main Idea
Bitcoin's price fluctuated around $117,000 after a recovery from a multi-week low, while altcoins like Ethereum, DOGE, LINK, and HYPE outperformed, reducing Bitcoin's market dominance to 58%.
Key Points
1. Bitcoin slumped to a multi-week low of $110,000 on August 3 but recovered to nearly $118,000, a 9-day high, before settling around $117,000.
2. Bitcoin's market dominance dropped by 2% to 58% as altcoins like Ethereum, DOGE, LINK, and HYPE saw significant gains.
3. Ethereum surged to a three-and-a-half-year high of $4,200, while other altcoins like CRO, UNI, XMR, and ENA also posted notable gains, with ENA rising 20% to $0.73.
4. The cumulative market cap of all cryptocurrencies stabilized at approximately $2.330 trillion.
Description
Bitcoin’s price gained a few grand over the past days but was stopped ahead of $118,000 and now stands around $117,000. Many altcoins have significantly outperformed the market leader, which has reduced its dominance by 2% to 58%. BTC Dominance Drops August started on the wrong foot for bitcoin, which started to lose value rapidly due to overall global economic uncertainty and Trump’s controversial actions that had a few nuclear submarines move close to Russia’s borders. The culmination took pla...
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