The crypto industry’s constant volatility dilemma has resurfaced as the market has started with a slump. Most cryptocurrencies lost value on Wednesday, even top guns like Ethereum and Bitcoin.
The coins have lost 4.64% and 3.27% value in the past 24 hours, respectively. However, it is SOL and XRP, the standouts of the previous day, that lost a major chunk of their value. ADA and DOGE joined the coins, also losing 5% or more value on Wednesday.
On that note, let’s take a general overview of the crypto market along with the daily updates.
Bitcoin
The market leader finally gave in to the selling pressure, losing 3.27% value in the past 24 hours. The coin almost hit the 70k-dollar mark a few days ago but is now trading at 64,351 dollars.
The BTC indicators are currently at their tightest point in the past 12 months. On the other hand, traders and analysts are expecting the crypto to make a big move in September.
Ethereum
Like always, Ethereum has matched Bitcoin’s beat, losing more than 4% value in the past 24 hours. The coin was cruising around the 3,500-dollar mark, but it is now trading at 3,175 dollars.
Similar to BTC, Ethereum’s 1-week movement shows an uptick of 0.37%. Despite Ethereum ETFs getting an estimated AUM of 10 billion dollars in its first year, ETH is constantly struggling to maintain its market value.
Experts are also expecting ETH to gain stability and reap benefits from the ETF inflows in a couple of months.
Solana
Market forces pushed Solana back to the 169 dollar mark after it crossed the 193 dollar mark. It has lost 7.61% value in the past 24 hours, surprising the entire market.
The SOL network has not undertaken any major steps in the past few weeks. However, the sheer shift in market dynamics is putting SOL prices in a frenzy. The market lost 80 billion dollars in hours, with most top tokens struggling to stabilize.
dogwifhat
WIF, or dogwifhat, became the standout loser for the day after losing 13.51% value. The coin is barely trading above the 2-dollar mark at the time of writing.
The meme coin is facing questions regarding its longevity in the market, with traders even wondering whether it will hit 0 in August. Given the current market dynamics, WIF is not offering a promising outlook to traders.
Neiro Ethereum
The Neiro coins have taken the crypto world by storm. However, their limited background data makes it tough for users to actually gain faith in the coin.
That is why Neiro Ethereum’s ridiculous 1-week surge of 1090.28% put even bigger exclamation marks in traders’ heads. The coin is trading at 0.1643 dollars, with a 24-hour performance of 43.13%. Long-term traders are refraining from investing in NEIRO coins due to the absence of verified information.