Market Update August 14

Reading Time: < 1 minute

Over the past day, the cryptocurrency market has seen some interesting price movements. Bitcoin has experienced a 3.41% increase in its price, reaching $60,945.54.

The second-largest cryptocurrency, Ethereum, has also seen a similar increase of 3.41%, bringing its price to $2,728.20.

This upward trend in price can be seen across the entire market, with the total market cap increasing by 2.67%, reaching a whopping $2.14 trillion.

This surge in market cap can be attributed to the positive price movements of both Bitcoin and Ethereum, which make up a significant portion of the overall market.

Despite the overall increase in market cap, trading volume has actually decreased by 19.81%. This could be due to traders taking profits after the recent price increases. It is also possible that some traders are waiting for prices to stabilize before making any new investments.

In terms of dominance, Bitcoin still remains the top cryptocurrency with a dominance of 56.2%. However, Ethereum has also been gaining ground with a dominance of 15.3%, showing its potential as a viable alternative investment to Bitcoin.

Altcoins have changed as follows: BNB (+1.25%), Solana (+0.68%), XRP (+1.05%), Toncoin (+8.02%), Dogecoin (+1.37%), and Cardano (+1.42%).