Market Update September 6

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Over the past week, the crypto market has experienced some significant price movements, with the two largest cryptocurrencies, Bitcoin and Ethereum, both seeing a decline.

Bitcoin fell by 2.36% to $55,839.23, while Ethereum saw a larger drop of 6.90% to $2,350.14. This has caused the overall market cap to decrease by 2.10% to $1.96 trillion, and the 24-hour trading volume to decrease slightly by 0.28% to $63.85 billion.

Bitcoin saw its dominance reach 56.1%, while ETH reached 14.4% dominance. While the BTC and ETH dominance shows the market’s confidence in these two coins, the altcoin market witnessed various fluctuations.

BNB (Binance Coin) faced a sharp decline towards the end of the week, with a 5.83% drop in its price. Another highly talked about coin this week was Solana (SOL), which faced a 7.98% drop over the past week. This drop can be linked to the broader market correction and the increasing competition in the decentralized finance (DeFi) sector. XRP -5.18%, Dogecoin -3.31%, TRON -7.66%, and Toncoin -11.88%.