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The leading cryptocurrency Bitcoin (BTC) has experienced a loss of over 7% in the last month. Many altcoins in the crypto market have witnessed significant declines during this period. However, despite the downward trend in the cryptocurrency market, there have also been crypto assets that have stood out positively from the market in August.
Bitcoin’s Performance in August
The leading cryptocurrency Bitcoin (BTC), which consolidated around the $29,000 price levels from the beginning to the middle of August, witnessed a striking drop on August 17, briefly falling below the $26,000 price levels. After these declines, Bitcoin (BTC) followed a relatively sideways trend between the $25,600 and $26,600 levels for a while.
On the other hand, Grayscale winning the SEC case on Tuesday caused the crypto market to regain strong upward momentum. BTC briefly surpassed the $28,000 price levels on Tuesday. However, with Bitcoin falling below the $27,200 levels again in the morning hours, the cryptocurrency market resumed its decline.
Ethereum (ETH) started trading at around $1700 with its recent value losses. The total market value of the crypto ecosystem started trading at around $1.08 trillion, according to CoinMarketCap (CMC) data.
Highlighted Cryptocurrencies of August
With the strong downward momentum of the crypto market in the past weeks and the continued value losses of BTC, there have also been cryptocurrencies that have lost significant amounts in the last month. Compound (COMP), Pepe (PEPE), Uniswap (UNI), Litecoin (LTC), Conflux (CFX), Immutable (IMX), and XRP recorded double-digit value losses and ranked among the top 100 cryptocurrencies with the highest market capitalization, according to CMC data.
However, despite this decline in the cryptocurrency market, there have also been cryptocurrencies that have continued to rise and stood out positively from the market, experiencing strong upward momentum in August. THORChain (RUNE), Toncoin (TON), and dYdX ranked among the top 100 cryptocurrencies with the highest market capitalization and recorded the highest percentage increases in the last month. THORChain (RUNE) saw an increase of over 60% in the last month, Toncoin (TON) saw an increase of over 40%, and dYdX saw an increase of over 10%.
