Market Update August 29

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Crypto markets have been on the move over the past day, with some major coins seeing significant price gains. Bitcoin has increased by 1.55% to reach a price of $59,626.57. Ethereum, the second largest cryptocurrency, has also seen a strong rise of 4.51% to reach a price of $2,549.81.

The overall market cap of all cryptocurrencies combined has also seen a gain of 1.59%, reaching a total of $2.1 trillion. This increase in market cap can be attributed to the strong price movements of Bitcoin and Ethereum, as they make up a significant portion of the total crypto market.

However, while the market cap has seen a positive gain, the 24-hour trading volume has decreased by 8.26%, reaching a total of $81.65 billion.

This decrease in trading volume can be a sign of decreased market activity, as traders may be waiting for clearer signals before making any major moves.