While volatile price movements in cryptocurrencies continue, it was seen that this mostly reflected in Bitcoin. BTC’s price has been unable to determine its direction since last week, with the price moving within a wide range as reflected in the charts. Recently, BTC has also lost its struggle to stay above $60,000, affecting altcoins as well. So, what is happening with the market’s high-volume altcoins as we start August 16?
How Much is Bitcoin Worth?
Last Monday, after significant price crashes felt in the cryptocurrency world following Japan-based events, the sharp decline in Bitcoin frightened investors, and this process ended after BTC fell to $48,800. Following this process, BTC experienced a sharp rise, pushing its price back above $60,000, but the movement did not continue upward, and the price continued to fluctuate in this region.
At the latest point, BTC is seen rapidly fluctuating between $62,000 and $58,000, and it is understood from the charts that BTC continues to fall today as well.
Indicating a decline for BTC today as well, after yesterday’s 4.39% drop, the price decreased by 0.43% today, reaching $58,249. After the price drop, the market cap also fell below $1.15 trillion, standing at $1.149 trillion.
An increase in the 24-hour trading volume was also noted. The trading volume rose from $31.7 billion to $35.7 billion, suggesting that investors might be eager to buy at the current low prices.
Altcoin of the Day
While the impact of BTC’s decline is also seen on altcoins, one altcoin remaining in the positive zone did not go unnoticed by investors. First, looking at Ethereum, it was still performing better than BTC on a weekly basis, but today ETH’s decline was sharper compared to BTC.
ETH’s price is finding buyers at $2,601 after a 1.86% drop today. Following the rise in the past two days, ETH’s market cap fell to $312 billion after the last two days. The 24-hour trading volume remained relatively stable at $16 billion.
BNB also lost some of its strength today. BNB’s price became $518 after a 0.55% drop in the last 24 hours. Solana, which rose from the ashes last year, continued its decline as reflected in the above chart. Solana’s price is finding buyers at $142.8 after a 1% drop.
Finally, looking at TON, which once again emerged as the winner of the day, it is seen that it has been moving with a strength beyond the market for days. TON’s price continued its 7.58% rise seen throughout the week, reaching $6.85 after a 2.34% increase in the last 24 hours, delighting investors and eyeing $7 again.
This rise in TON’s price increased its market cap to $17.2 billion, while its trading volume, considered relatively weak compared to its top 10 competitors, was at $466 million, which seemed to make its investors somewhat uneasy.
