Cryptos Remain Cautious

Cryptocurrencies remained sober early on Tuesday even as world financial markets displayed lackluster trading amidst fears of a looming recession and anxiety about the Fed’s Minutes. Wall Street Futures too reflected the muted sentiment.

Gold Futures for December settlement are trading 0.50 percent lower at $1,789.55 per troy ounce. The U.S. Dollar Index is hovering near 106.62, up 0.07 percent on an overnight basis.

Overall crypto market capitalization is at $1.14 trillion as compared to $1.15 trillion a day earlier.

Bitcoin is trading at $23,945.25, after touching a high of $24,262.64 and low of $23,839.77 in the past 24 hours. At current prices, Bitcoin is down 0.73 percent on an overnight basis and 49.8 percent on a year-to-date basis. On a weekly basis, BTC has gained close to 2.8 percent. Bitcoin’s market dominance is currently at 40 percent.

Ethereum is trading at $1,889.57. Ether ranged between $1,926.60 and $1,862.74 in the past 24 hours. At current prices, Ether is down 0.52 percent on an overnight basis and 49.9 percent on a year-to-date basis. On a weekly basis, ETH has gained more than 10 percent. Ether’s market dominance is currently at 20.1 percent.

Among the top 10 coins (excluding stablecoins), 7th ranked XRP (XRP) and 10th ranked Dogecoin (DOGE) are in overnight positive territory.

Dogecoin is the best performer among the top 100 cryptocurrencies as well with a close to 14 percent overnight rally. Market capitalization of the original meme coin has increased to $11.55 billion.

BNB (BNB), Cardano (ADA) and Solana (SOL) are in overnight negative territory.

Among stablecoins, 3rd ranked Tether (USDT), traded at $1 in the past 24 hours. 4th ranked USDCoin (USDC), traded between $1.00 and $0.9996 in the past 24 hours. Binance USD (BUSD), ranked 8th overall traded between $1.00 and $0.9996.

47th ranked Chiliz (CHZ) is the second-best performer with an overnight rally of more than 13 percent.

The biggest laggard is 72nd ranked Celsius (CEL) which has declined 18 percent.

The CoinShares’ Digital Asset Fund Flows Weekly report on institutional investments showed outflows of $17 million for the week ended August 12. Bitcoin recorded outflows of $20 million whereas the Short Bitcoin product recorded inflows of $3 million. Year-to-date flows remained positive at $475 million while month-to-date flows were negative at $13 million. The aggregate Assets Under Management stood at $33,784 million.

In the category-wise market capitalization dominance, Smart Contracts aggregate to 29.60 percent; Stablecoins are at 13.5 percent; Centralized Exchanges add up to 5.98 percent; DeFi is at 5.55 percent; Web 3 sums up to 2.45 percent; NFTs account for 2.09 percent; Research grosses 1.98 percent; Memes command 1.85 percent; DAOs are at 1.72 percent; Governance commands 1.54 percent; Decentralized Exchanges amount to 1.45 percent; Metaverse commands 1.30 percent; Scaling enjoys 1.15 percent; while Gaming follows with 1.13 percent market capitalization.

For More Cryptocurrency News, visit rttnews.com

Source: Read Full Article