Market Update August 2

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Crypto market continues its unpredictable journey as the prices of major cryptocurrencies experienced mixed movements over the past day.

Bitcoin saw a slight increase of 0.13% to reach $64,430.22, while Ethereum, the second-largest cryptocurrency, witnessed a decline of 0.67% to reach $3,149.89.

In terms of market cap, the entire cryptocurrency market experienced a decrease of 0.89%, bringing the total value to $2.29 trillion. This slight dip in the market cap could be attributed to the ongoing volatility and uncertainty in the global financial markets.

Despite the decline in market cap, the trading volume saw a significant increase of 7.23%, reaching a total of $83.16 billion. This surge in trading activity could be a result of increased interest and adoption of cryptocurrencies by institutional and retail investors.

In terms of dominance, Bitcoin continues to maintain its position as the leading cryptocurrency with a dominance of 55.5%, while Ethereum holds a dominance of 16.5%. This shows that despite the ups and downs of the market, Bitcoin and Ethereum remain the top choice for investors.

Moving on to other altcoins, we see a mix of positive and negative price fluctuations, with BNB +0.06%, Solana -4.55%, XRP -7.28%, Dogecoin -3.85%, Toncoin -3.08%, and Cardano -1.92%.