Bitcoin and Ethereum Temporarily Reduce Volatility as the Global Crypto Market Cap Slightly Dips

The global crypto market cap is slightly down by 0.64%, reaching a value of over $2.35 trillion. The overall FGI shows 57 points for neutral sentiments.

The global crypto market cap slid slightly down by 0.64%, reaching a value of over $2.35 trillion to begin the session on July 23, 2024. The overall Fear and Greed Index showed 57 points for neutral sentiments.

Several economic concerns remained in the picture in the United States, and traders are seen considering investing in the crypto market. The situation became increasingly complex as the presidential election approached, particularly in the months of November and December.

Spot Ether ETF continued to garner a large amount of attention with a high probability of going live on July 23, 2024, which was a Tuesday.

Bitcoin, Ethereum Temporarily Reduce Volatility

Fluctuations were seen returning to the crypto market, hopefully for good, with every digital asset marking an uptick. There was a pause in that movement as BTC and ETH discovered their respective soft zones on the price charts.

Bitcoin, for one, was last seen trading around $64,256.17, down by 0.59% in the last 24 hours. The price was heavily influenced by the Mt. Gox settlement plans and the sale of seized assets by the German Government.

ETH was seen inching closer to eventually surpassing the $4,000 milestone. The Spot Ether ETF was seen as a pivotal moment for the sector. It was likely that Spot Ether ETF would outperform Spot Bitcoin ETF, or at the very least, challenge Spot Bitcoin ETF for the title of the best crypto ETF investment in the first 18 months.

Ethereum was last seen listed at $3,430.65, with a jump of 0.30% in the last 24 hours.

Meme Coins Take a Hit on Market Cap

The market cap difference between Dogecoin and Shiba Inu widened, but it wasn’t the main focus. The collective market cap of the meme coin segment managed to steal the spotlight from their competition.

While the number was greater than $48 billion, the market cap of meme coins worldwide dipped by 2.94%. The trading volume gained 24.1% in a single day.

As for DOGE and SHIB, both tokens were exchanging hands at $0.1206 and $0.00001755, respectively. In the last 24 hours, Shiba Inu lost 6.315 of its token value. Dogecoin shed 1.94% from its weight.

Other Gainers, Losers

XRP slid by 8.58%, last seen trading at $0.5574. BNB and SOL made decent gains in the last 24 hours, soaring by 0.21% and 1.87%, respectively.

Cardano’s ADA remained among the top 10 global cryptocurrencies, with a token value of $0.4254, a decrease of 3.33% over the same period. Its market value was over $15 billion, with a wide gap ahead of TRX.

PEPE and FLOKI also lost some weight, down by 1.41% and 2.93%. The frog-themed meme coin, nevertheless, hoisted the flag of attracting everyone’s attention to the meme coin sector.

The above is the detailed content of Bitcoin and Ethereum Temporarily Reduce Volatility as the Global Crypto Market Cap Slightly Dips. For more information, please follow other related articles on the PHP Chinese website!