Crypto Prices Today Show Signs of Recovery After Tanking Significantly in the Last 24 Hours

The crypto prices today have shown signs of recovery after tanking significantly in the last 24 hours. While some market participants were worried about

Crypto prices showed signs of recovery on August 5 after tanking significantly in the last 24 hours. While some market participants were worried about the sharp decline, others took the advantage to accumulate more crypto as in the case of Justin Sun, the founder of Tron. Earlier today, Sun purchased over 14,800 ETH coins in anticipation of an imminent upward trend.

Several factors including rate cut delay by the FOMC and the massive crypto liquidation contributed to the downtrend. However, the prices are resurging at the time of writing. Bitcoin price regained the $55,000 mark while Ethereum now approaches $2,500. Notably, the total market cap has now added 6.25% to its value to rest at $1.95 trillion. Let us look at an overview below.

Top Crypto Price Update

The BTC price chart paints a clear picture of Bitcoin movement in the last 24 hours. The flagship cryptocurrency has gained 5.42% over the last day, changing hands at $55.123. Moreover, Bitcoin touched bottom and the peak of $49,665.38 and $56,262 respectively. Also, its one-day trading volume has dropped by 4.74% representing reduced trading activities.

However, Bitcoin continues to record negative ETF flows. Soso Value data show that the total daily net inflow as of August 5 is -$168.44M.

Simultaneously, Ethereum has showcased a notable increment over the last day. The ETH price surged by 7.67% at the time of writing to trade at $2,461. The recent accumulation of ETH by Justin Sun will likely boost investors’ confidence and encourage a widespread buy-the-dip event.

Unlike Bitcoin, Ethereum has seen positive daily ETF inflows as per the observed data, recording a $48.73 million daily total net inflow.

Other Altcoin Price Update

The Solana price has seen the most gains in the last 24 hours. Its value has skyrocketed by 17.62% to $138.49. Additionally, SOL had its bottoms and tops at $110.46 – $143 respectively. In the weekly chart, SOL has crashed by 23.48%, and, recorded a 1.13% decrease in the last 30 days.

The XRP Price is now approaching the $0.5 mark. XRP increased by 9.45% to trade at $0.4999 over the last day. Interestingly, XRP has traded between $0.435 – $0.518 in one day.

Meanwhile, Cardano (ADA) has spiked by 9.36% to $0.3241, maintaining a bottom and top range of $0.2845 and $0.3342 respectively. Also, Toncoin (TON) jumped by 4.59% to $5.45. Its one-day lows and highs were $4.86 – $5.58.

Dogecoin (DOGE) and Shiba Inu (SHIB) are leading the memecoin surge today. While DOGE saw a notable 13.93% gain, SHIB recorded an increase of 17.98%. Consequently, DOGE and SHIB are now trading at $0.096 and $0.00001344 respectively. Also, PEPE has added 21.73% of its value, now changing hands at $0.00007689.

Top Trending Crypto Gainers Today

Neiro Ethereum (NEIRO) climbed 77.89% to reach $0.2038

Pendle (PENDLE) surged by 42.92% to $2.75

Gifto (GFT) gained 40.31% to $0.0444

Ponke (PONKE) added 38.80% to $0.3349

Ondo (ONDO) moved up by 31.21% to $0.7174

Akash Network (AKT) spiked by 24% to $2.55

The global crypto market has regained significant losses from yesterday’s downtrend. Even though the sentiment surrounding the market has dropped to “extreme fear,” per crypto fear and greed index data, the recent surge is likely to fix investors’ confidence and boost overall mood in the coming days.

The above is the detailed content of Crypto Prices Today Show Signs of Recovery After Tanking Significantly in the Last 24 Hours. For more information, please follow other related articles on the PHP Chinese website!