Crypto

Bitcoin, Ethereum, Zcash and Fantom Daily Price Analysis – August 1st

The bearish trend in the global crypto market continues as capital inflows remain virtually unchanged. The overall churn shows that the market is facing an increase in sales. There has been a significant decline in the value of bitcoin, ethereum, etc. Whereas if the following coins are compared, they will face the same dilemma, except for a few. The market needs to maintain its gains as this will affect investment in the coming days. It remains to be seen if the market will be able to do this or if it will again face rapid losses.

The ongoing security exploits in the global crypto market are one of the main reasons for the downturn. The latest is the feat of the symbolic Nomad Bridge, which was stripped of $190 million. Hundreds of would-be attackers cleared TVL of this token within hours.

It happened in the form of a long series of transactions. According to DeFi Llama, the amount remaining in the wallet is approximately $651.54 million. The first suspicious transactions occurred at 21:32 UTC. Alarm bells rang and users were alarmed to withdraw their funds.

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The latest bitcoin data shows that it has lost 1.64% in the last 24 hours. Weekly performance showed improvement as its gain remains at 9.26%. It would need to retain profits to maintain its consolidated value.

Bitcoin price is in the range of $23,038.24. The market capitalization of bitcoin is estimated at $442,179,643,244. Bitcoin trading volume for 24 hours is approximately $25,952,148,508.

ETH continues to fall

CryptoPunk Ethereum NFT sales surged after Tiffany offer. According to available updates, NFT sales jumped 248% as Tiffany and Co. expressed interest in using NFTs. Attracting luxury brands can improve market position.

ETHUSDT 2022 08 02 06 46 04Source: Trade Review

Ethereum also lagged behind in its growth, losing 4.79%. The fall affected him for a while as his figures show depreciation. Weekly performance shows that he gained 13.60%.

The price of ETH is in the range of $1614.36. The market value of this coin is estimated at $198,195,263,521. The 24 hour trading volume of this coin is about $16,404,681,142.

ZEC is still in the red

Zcash also continued to suffer losses due to the bear market. The latest data shows that it has lost 5.55% in the last 24 hours. Data for seven days shows a gain of 15.75%. The price of this coin is in the range of $62.28.

ZECUSDT 2022 08 02 06 46 31Source: Trade Review

If we look at the market value of ZEC, it is valued at $931,075,259. The 24 hour trading volume of this coin is around $60,767,900. The same amount in the original currency is approximately 975,751 ZEC.

FTM is gaining momentum

Fantom was gaining momentum, attracting big wins. The latest data shows that it has gained 1.77% in the last 24 hours. Weekly data show an increase of 15.61%. He was able to keep investors during the bearish wave. The prize value of the Fantom is about $0.3472.

FTMUSDT 2022 08 02 06 48 14Source: Trade Review

The market capitalization of FTM is estimated at $883,740,918. The 24-hour trading volume of this coin is about $238,039,053. The amount of this coin in circulation is approximately 2,545,006,273 FTM.

Final Thoughts

The global crypto market saw no change in the bearish wave. The latest data shows that Bitcoin, Ethereum and other cryptocurrencies continue to lose value. The reddening of the market seems to have been going on for some time. The value of the global market capitalization also declined due to the downtrend. It is currently valued at $1.07 trillion.

Denial of responsibility. The information provided does not constitute commercial advice. Cryptopolitan.com is not responsible for investments made based on the information provided on this page. We strongly recommend that you conduct independent research and/or consult with a qualified professional before making any investment decision.

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