Market Update August 28

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Cryptocurrency markets have experienced some major price movements over the past day, with many of the top cryptocurrencies seeing significant drops in value.

Bitcoin, the largest cryptocurrency by market capitalization, has lost 5.80% of its value and is currently trading at $59,208.27.

Ethereum also saw a 7.95% decrease in value, with its price currently at $2,467.59. The overall market cap of all cryptocurrencies has also taken a hit, dropping by 5.85% to $2.08 trillion.

However, despite the decrease in value, the 24-hour trading volume has seen a significant increase, jumping by 33.90% to $88.64 billion.

Bitcoin’s dominance, which measures its share of the total cryptocurrency market cap, currently stands at 56.2%, while Ethereum’s dominance is at 14.2%. This means that despite the recent price movements, Bitcoin and Ethereum continue to hold the majority of the market share, with other cryptocurrencies making up the remaining 29.6%.

Altcoins have moved as follows: BNB -2.48%, Solana -7.07%, XRP -3.55%, Dogecoin -6.24%, TRON -2.11%, and Toncoin -0.80%.