Cryptocurrency Market Overview (August 13, 2024)

 Cryptocurrency Market Overview (August 13, 2024)

Today's strong surge in the cryptocurrency industry has seen the global market cap reach $2.09 trillion, a gain of 2.43% in only one day. With a gain of 1.28% over the previous day, Bitcoin (BTC) is now trading at $59,183.56, edging closer to the $60,000 threshold. Ethereum (ETH), which is presently trading at $2,648.13, also experienced a notable gain of  3.55%.

 

With 24-hour increases ranging from 1.32% to 4.14%, other well-known cryptocurrencies like Dogecoin (DOGE), Litecoin (LTC), Ripple (XRP), and Solana (SOL) all finished in the green. A balanced attitude among investors was indicated by the Market Fear & Greed Index, which was at 52 (Neutral) out of 100 overall.

 

•  Top Gainers and Losers

With a spike of more than 22% in just one day, the SATS token emerged as the top gainer. ORDI (14.02%), Star net (11.25%), Helium (HNT) (11.14%), and Celestia (TIA) (11.02%) are a few other noteworthy movers.

Conversely, MANTRA (OM) saw the largest loss over a 24-hour period, falling by almost 2%. Hedera (HBAR) (0.80%), TRON (TRX) (1.24%), Bittensor (TAO) (0.44%), and Stellar (XLM) (0.13%) are some of the other top losers.

• Ripple (XRP) Trending

Recently, one of the most popular subjects in the cryptocurrency world has been ripple and its native coin, XRP. The primary cause is the ongoing, highly developed legal dispute between Ripple and the Securities and Exchange Commission (SEC) in the United States.

The verdict in this case is being eagerly watched by experts since it may have significant ramifications for the whole Bitcoin market. The price of XRP is currently $0.5696, up 1.32% over the previous day.

SHIB Announcements

The well-known meme coin Shiba Inu (SHIB) recently made several significant announcements. The Shibarium Layer-2 protocol, which intends to increase the scalability and efficiency of the Shiba Inu ecosystem, has plans that the SHIB team has revealed.

The Shiba Inu Incubator, a program created to assist and foster promising ventures within the Shiba Inu community, has also been announced by the SHIB team. Even if the coin's price hasn't changed much over the past 24 hours, SHIB aficionados are excited by these developments.

Conclusion

Today's cryptocurrency market has shown resilient, as evidenced by the upward price movements of the majority of the main coins. The market might be ready for more expansion in the near future, based on the increase in the worldwide market capitalization and the optimistic attitude of investors.

However, because the cryptocurrency market is still quite volatile and unpredictable, investors should always do extensive research and take their risk tolerance into account before making any decisions.

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