The biggest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), traded in the green on Thursday morning, with Solana emerging as the most searched coin.
The global crypto market cap was up 1.93 percent to $1.08 trillion at 8:50 a.m. However, global crypto volume was down 14.45 percent to $66.18 billion, according to Coinmarketcap data.
Trading volume in the decentralized finance coin section is approximately $6.03 billion or 9.11 percent of the total 24-hour volume of the crypto market. The volume of all stablecoins is $60.62 billion or about 91.6 percent of the total crypto market volume in the last 24 hours.
Bitcoin
From 8.50 am Bitcoin was up 1.43 percent to $23,139.53 and currently has a dominance of 41.04 percent in the crypto market.
CEO of MicroStrategy, the world’s largest company Bitcoin holds, Michael Saylor, said he will step down from his position and serve as executive chairman to better focus on buying Bitcoin. “I believe that sharing the roles of Chairman and CEO will enable us to better pursue our two corporate strategies of acquiring and holding Bitcoin and growing our analytics software business… Phong will be empowered as CEO to manage it general business operations,” he said. quoted by Investing.com
Bitcoin holders seem to have taken this news with mixed feelings as the price of Bitcoin rose from a low of $22,835 on August 3rd to $23,560 and then began to decline, finally settling at around $23,100. Around 5:04 AM, the Bitcoin price hit an intraday low of $22,808 on August 4.
Ethereum
The price of Ethereum (ETH) this morning was $1,653.85 and it was up 2.74 percent.
According to a recent report by Nansen, around $2.7 billion was spent by Ethereum holders minting non-fungible tokens (NFT) on the Ethereum blockchain. The Nansen report also found that 10,88,888 wallet addresses minting NFTs on Ethereum were unique.
In terms of price analysis, Ethereum did not make any significant moves. Ethereum was $1609 on August 3 at 8.50 and reached a high of $1677 at 17:54 and then fell to a low of $1,608 on August 4 at 04.05. The trading volume decreased by 17.82 percent to 16,515,110,881 dollars.
Other Altcoins
Solana (SOL) appears to be the most searched coin of the day on Coinmarketcap as of this morning. The price of Solana rose by 0.6 percent to 39.31 dollars.
Just 4 hours ago, it was reported that nearly 8,000 Solana wallet addresses created on third-party wallet app Slope were tapped. Solana researchers clarified that although thousands of wallets were tapped, the exploit was limited to one Solana wallet and they are actively investigating the matter, Cryptobriefing reported.
Cardano (ADA) rose 1.27 percent to $0.5069. The 24-hour trading volume for ADA decreased by 24.36 percent to $513,564,797.
Binance (BNB) was up 6.84 percent to $302.11. Its 24-hour trading volume increased by 20.83 percent to $2,177,333,667.
This exploit was isolated to one wallet on Solana, and hardware wallets used by Slope remain secure.
While the details of exactly how this happened are still under investigation, key private information was inadvertently transferred to an application monitoring service. 2/3
— Solana Status (@SolanaStatus) 3 August 2022
Meme Coins
Dogecoin (DOGE) was up 0.85 percent to $0.06703. Its 24-hour trading volume decreased by 19.82 percent to $265,045,974.
Shiba Inu (SHIB) recently launched its NFT gaming service, giving holders yet another use for the token. Shiba Inu (SHIB) was up 1.37 percent at $0.00001193.
Decentralized Finance (DeFi)
Yearn.Finance (YFI) was up 2.08 percent at $10,889.01. Its 24-hour trading volume fell 34 percent to $99,234,994.
Avalanche (AVAX) rose 3.47 percent to $23.69 and 24-hour trading volume fell 4.7 percent to $574,540,355.
Aave (AAVE) traded up 3.74 percent to $97.27, and 24-hour trading volume was down 4.2 percent to $213,889,120.
