The largest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), were trading in the green on Thursday morning, while Solana emerged as the top searched coin.
The global crypto market capitalisation went up by 1.93 per cent to $1.08 trillion as of 8.50 am. However, the global crypto volume was down by 14.45 per cent to $66.18 billion, according to Coinmarketcap data.
The trading volume in the decentralised finance coins section is about $6.03 billion or 9.11 per cent of the total crypto market 24-hour volume. The volume of all stable coins is $60.62 billion or about 91.6 per cent of the total crypto market volume in the last 24 hours.
As of 8.50 am, Bitcoin was up by 1.43 per cent at $23,139.53 and currently commands a 41.04 per cent dominance in the crypto market.
The CEO of MicroStrategy, the world’s largest corporate Bitcoin holder, Michael Saylor, said that he will be stepping down from his position and serve as executive chairman to better focus on buying Bitcoin. “I believe that splitting the roles of Chairman and CEO will enable us to better pursue our two corporate strategies of acquiring and holding Bitcoin and growing our enterprise analytics software business…. Phong will be empowered as CEO to manage overall corporate operations,” he was quoted as saying by Investing.com
It seems that Bitcoin holders have taken this news with mixed feelings as the price of Bitcoin rose from its low of $22,835 on August 3 to $23,560 and then started inching downwards and finally settled at around $23,100. Around 5.04 am, Bitcoin price hit an intraday low of $22,808 on August 4.
The price of Ethereum (ETH) this morning was $1,653.85 and it was up by 2.74 per cent.
According to a recent report by Nansen, about $2.7 billion was spent by Ethereum holders on minting non-fungible tokens (NFT) on the Ethereum blockchain. The Nansen report also found out that 10,88,888 wallet addresses that minted NFT on Ethereum were unique.
Regarding price analysis, Ethereum made no significant moves. Ethereum was $1609 on August 3, 8.50AM and touched a high of $1677 on 5.54PM and then dropped to a low point of $1608 on August 4, 4.05AM. Its trading volume was down by 17.82 per cent at $16,515,110,881.
Solana (SOL) seems to be today’s most searched coin on Coinmarketcap as of this morning. The price of Solana was up by 0.6 per cent at $39.31.
Just 4 hours ago it was reported that nearly 8000 Solana wallet addresses created on third party wallet app Slope were drained. Solana researchers clarified that although thousands of wallets were drained, the exploit was confined to one Solana wallet and they are actively investigating the matter, reported Cryptobriefing.
Cardano (ADA) rose by 1.27 per cent at $0.5069. The 24-hour trading volume for ADA was down by 24.36 per cent at $513,564,797.
Binance (BNB) was up by 6.84 per cent at $302.11. Its 24-hour trading volume gained 20.83 per cent at $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 occurred are still under investigation, but private key information was inadvertently transmitted to an application monitoring service. 2/3
— Solana Status (@SolanaStatus) August 3, 2022
Dogecoin (DOGE) was up by 0.85 per cent at $0.06703. Its 24-hour trading volume was down by 19.82 per cent at $265,045,974.
Shiba Inu (SHIB) recently launched its NFT gaming service, giving its holders one more use case for the token. Shiba Inu (SHIB) was up by 1.37 per cent at $0.00001193.
Decentralised Finance (DeFi)
Yearn.Finance (YFI) was up by 2.08 per cent at $10,889.01. Its 24-hour trading volume was down by 34 per cent at $99,234,994.
Avalanche (AVAX) rose 3.47 per cent at $23.69 and its 24-hour trading volume fell 4.7 per cent at $574,540,355.
Aave (AAVE) was trading with a gain of 3.74 per cent at $97.27 and its 24-hour trading volume was down by 4.2 per cent at $213,889,120.