After a strong month in July, the cryptocurrency market has been falling again in recent days. That seemed to come to an end on Tuesday with a small bounce. Yesterday, the prices again made a small bounce, but most crypto then hit the same high.
That ensures that bitcoin (BTC) turns red today and analysts more bearish become. Most altcoins are also in the red, although they are not yet high percentages. As a result, the total market capitalization of crypto drops only 1% to $1.108 trillion. The market currently appears to be consolidating before a breakout follows.
Daily Market overview
Market cap: $1.12T -0.13%⬇️
SPOT Volume 24h: 28.44B -0.97%⬇️$BTC dominance: 38.94% -0.33%⬇️
Fear & Greed Index: 30 fear sentiment. Most projects in consolidation.#Bitcoin $BTC $ETH🌐👉https://t.co/h7kQrKQGFo
🧠Free on-chain dash👉https://t.co/LzkA1WfcwR pic.twitter.com/YhtYCeczTE— IT Tech (@IT_Tech_PL) August 4, 2022
Ethereum is down 2%
Ethereum (ETH) lost traction at $1,700 this week, then closed at around $1,570 on Tuesday. Then ETH made a small bounce, but already peaked at $1,670. That was repeated again, but the peak was already lower. ETH found support around $1,620 last night but briefly dipped to $1,600. Currently, ETH is again at this level and the price is 2% in the negative today.
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Ethereum Merge – The Most Anticipated Event In Crypto
🐼 What is The Merge all about?
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— finematics.eth (@finematics) August 3, 2022
XRP, SOL, DOT something in the minus
Ripple (XRP) held up relatively the strongest and is down just 0.5% today at $0.37. Solana (SOL), despite the wallet incident, is down just 0.7% today and currently stands at $38.8. Polkadot (DOT) fell 0.8% to $8.04 in the past 24 hours.
Solana hack – looks like the Slope wallet sent plaintext seed phrases to external integration partners.
Compromised Phantom wallets came from seed phrase imports used in Slope. Compromised ETH wallets were also from seed phrase reuse.
Not a blockchain or randomness issue.
— foobar (@0xfoobar) August 3, 2022
SHIB, AVAX, ADA, DOGE, MATIC drop a little harder
Shiba inu (SHIB) made a less strong bounce last night and comes in at $0.0000118 with the price already down 1.6%. Avalanche (AVAX) actually fluctuated harder and is currently falling to $23.3, putting the AVAX down 1.7%. This is also reflected in cardano (ADA), which is once again seeking support around USD 0.5, after falling 1.8%. Dogecoin (DOGE) is also down 1.8% and currently stands at exactly $0.0666. Polygon (MATIC) is down 1.9% and is currently back below USD 0.89.
Binance coin is up by 3.5%
Binance coin (BNB), from the huge cryptocurrency exchange Binance, is the big exception in the market today. The BNB price made another significant gain yesterday and held above $300 overnight. With that, BNB is up 3.5% today, but it doesn’t look very certain at the moment that BNB will stick to that $300.
This is how I find out. In chats… from a person I have never met in person, no less. pic.twitter.com/TmZpgc0tgT
— CZ 🔶 Binance (@cz_binance) August 3, 2022
Crypto top 100 hardest fallers
Although most of the top 100 is red, the declines are relatively minor. Despite this, maker (MKR), bitcoin sv (BSV), internet computer (ICP), neo (NEO), arweave (AR), axie infinity (AXS), flow (FLOW) and waves (WAVES) are about 3% in the minus today.
For defichain (DFI), iota (MIOTA) and synthetix (SNX) this is 4%. Ethereum classic (ETC), cronos (CRO), tenset (10SET) and bitcoin gold (BTG) are down about 6% today.
Crypto top 100 hardest risers
In contrast, frax share (FXS) and fantom (FTM) are up 3%. Enjin coin (ENJ), kava (KAVA) and bitdao (BIT) are up 4%. Tezos (XTZ) and near (NEAR) are both up about 5% in the past 24 hours. Lido (LDO) is again the strongest climber of the top 100 and is more than 9% in the plus today.
Lido is gaining momentum as the #Ethereum merge gets closer$LDO whales have nearly doubled their holdings over the past year, accumulating at lower prices$LDO has increased by a staggering 580% from the recent low
More analyticshttps://t.co/TbhCyRk46n pic.twitter.com/MtJOw7mJ0Z
— IntoTheBlock (@intotheblock) August 3, 2022
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#Tether and #USDCoin shark addresses have been accumulating coins as #crypto prices have risen. This accumulation indicates a disbelief in the rally, and a reluctance to buy in, also known as a “wall of worry”. Read our short take about #stablecoins. https://t.co/J7ExieuZRw pic.twitter.com/kDfNyqeAHt
— Santiment (@santimentfeed) August 3, 2022
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