Bitcoin Dipped Below $26K Again, Sui Soars 8% Daily (Market Watch)

23 August 2023

in HBAR

Reading Time: 3 mins read

After days of trading sideways, bitcoin finally made a move in the past 24 hours, but it was not in favor of the bulls.

Several altcoins are performing better today, including larger-cap ones such as BNB, SHIB, and TONCOIN.

BTC’s Latest Drop

It was less than a week ago when the primary cryptocurrency plummeted hard by a few thousand dollars to a two-month low of $25,300. This came amid speculations that SpaceX had sold off its remaining BTC holdings.

Bitcoin reacted well at first and quickly recovered more than a grand. However, it couldn’t sustain its movement and retraced back down to $26,000 by the time the weekend had arrived.

The next few days were highly uneventful as the asset remained stuck at that level. The start of the business week didn’t bring any fireworks either, and BTC was flatlined for most of it.

A move finally occurred in the past 24 hours when bitcoin slumped by more than $500 once again toward $25,000. Nevertheless, it bounced off, at least for now, and is back at $26,000.

Its market capitalization has maintained above $505 billion, and its dominance over the alts is still at 48.3%.

BTCUSD. Source: TradingView

BNB, SHIB, TON in the Green

Most alts mimicked BTC’s performance as of late, but a few have managed to register impressive gains on a 24-hour scale. Binance Coin, Shiba Inu, and TONCOIN lead the pack, with all three jumping by around 3% daily. As such, BNB sits above $215, SHIB is at $0.00000826, and TON is close to $1.4.

In contrast, ETH, SOL, and LTC have retraced by about 2%. HBAR and MKR have dumped even more – in the case of the latter, the daily decline is more than 7%.

BlockDAG’s CEO and Team Announced: Expected to Surpass Hedera and Polygon with a Projection

BlockDAG’s CEO and Team Announced: Expected to Surpass Hedera and Polygon with a $1 Projection

30 July 2024

VeChain (VET) And Hedera (HBAR) Triple Red Charts. Rollblock (RBLK) Seems The Summer Sure Money Bet – Times Tabloid

28 July 2024

Astar’s ASTR and SUI have taken the main stage when it comes down to daily gains. ASTR is up by 10% and has found a place among the top 100 alts by market cap, while SI has jumped by 8%.

[crypto-donation-box]

The total market cap is still stuck at $1.050 trillion on CMC.

Cryptocurrency Market Overview. Source: Quantify Crypto

SPECIAL OFFER (Sponsored)
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Source link