After a positive couple of days, the crypto market over the last 24 hours saw a major fall on the charts. The overall crypto market cap has fallen to $1.12 trillion, down over 3% in the past day. According to CoinMarketCap, the total crypto market volume over the last 24 hours is $71.76 billion, which makes a 13.19% increase.
The total volume in DeFi is currently $5.61 billion, 7.82% of the total crypto market 24-hour volume. The volume of all stable coins is now $64.91 billion, which is 90.45% of the total crypto market 24-hour volume.
Check out latest Bitcoin INR Price , Chart, and Data.
Bitcoin price has fallen back down below the $24,000 level, which had become a sort of support region for the king coin. Currently trading at about $23,400, it is down more than 2.7% in the past 24 hours. BTC prices had tried to make a recovery earlier in the day but couldn’t keep up the strength. This comes pretty much in line with the fall in the US markets yesterday, and with the release of the minutes of FOMC meetings, the tech-focused Nasdaq fell over 1.25% as of closing on 17 August. S&P500 and Dow Jones indices also saw losses of 0.72% and 0.5% on closing.
Ethereum price seems to be showing a fair amount of strength in the recent fall, arguably thanks to the upcoming Ethereum Merge in the second week of September, 2022. On 17 August, it was trading slightly above $1900 but is now trading near $1850, down about 3%. Now this is less than the usual number because Ethereum prices generally tend to fall more in percentage terms than Bitcoin prices, and vice versa. However, a fall along similar lines shows inherent strength growing in ETH price ahead of the Ethereum Merge.
TOP CRYPTOS TODAY BY MARKET CAP
Now as one would expect, this list of top cryptos by market cap would be in the red, pretty much in line with the king coin and the altcoin king. These coins generally tend to follow the direction of Bitcoin and Ethereum, unless of course there is some major positive development in a particular token. Avalanche (AVAX), Shiba Inu (SHIB) and Solana (SOL) has lost the most out of this list while Ethereum Classic Price (ETC) has managed to lose the lease, down about only 0.3% in the past 24 hours.
Expanding our view if we were to look at the top 100 cryptos by market cap, we see a slightly different picture. Chiliz (CHZ) - which was a major loser on 17 August managed to become the biggest gainer today on 18 August, rallying over 6% followed by Cosmos (ATOM) token, which also managed to gain well over 2% in the past 24 hours.
On the flip side, the biggest gainer from yesterday, 17 August managed to turn into the biggest loser today - EOS losing over 11% in the past 24 hours. Other major losers include Loopring (LRC), GALA, ANKR, STPMN (GMT) and several other altcoins.
CRYPTO MARKET TODAY AT A GLANCE
|Global crypto market cap||$1.12 trillion|
|Rise/Fall in crypto market cap||-3%|
|Global DeFi TVL||$65.05 billion|
|Rise/Fall in DeFi TVL||-1.8%|
Additional Read: Top Cryptos to Watch this Week
TOP CRYPTO PRICES TODAY, 18TH AUGUST, 2022:
|COIN||PRICE ($)||PRICE (INR)||% CHANGE (24-HOUR)||MARKET CAP|
|CHILIZ (CHZ)||$0.21||₹18.4||7%||$1.3 BILLION|
|MONERO (XMR)||$169.5||₹14,005||0.8%||$3 BILLION|
|COSMOS (ATOM)||$11.9||₹1000||0.7%||$3.4 BILLION|
|LOOPRING (LRC)||$0.42||₹36.3||-8.8%||$469 MILLION|
|CURVE DAO TOKEN (CRV)||$1.2||₹101.2||-9.1%||$633 MILLION|
|STEPN (GMT)||$0.97||₹89.7||-9.4%||$585 MILLION|
|LIDO DAO (LDO)||$2.5||₹199.07||-9.5%||$782 MILLION|
TOP CRYPTO NEWS TODAY
1. TOP FIRMS INVEST OVER $6 BILLION IN BLOCKCHAIN STARTUPS
According to data from a analytical report by blockchain data platform Blockdata, forty of the top corporation in the United States invested about $6 billion into blockchain startups between September 2021 and June 2022. However, because of the fact that some investments involved participation from multiple investors, Blockdata couldn't ascertain for certain how much each company invested in each of the particular projects.
They are silently in crypto already... pic.twitter.com/C5YeiE91P7
— CZ 🔶 Binance (@cz_binance) August 16, 2022
2. AMOUNT OF STAKED ETH HITS RECORD HIGHS, DOUBLES IN PAST YEAR
With the Ethereum Merge coming closer every passing day, the total amount of ETH tokens staked on the smart contract has recorded a new all-time-high - and has almost doubled in the past year alone. As on 16 August, the amount of ETH staked reached 13.29 million, which is nearly double that of exactly a year before, despite having ETH see a major 43% correction in the same timeframe.
The total amount of $ETH staked reaches a new all time high of 13.29M ETH staked, as of August 16.
This amount has almost doubled over the past year, despite the price of ETH declining by 43% over the same period. pic.twitter.com/Nm53ny8yag
— Delphi Digital (@Delphi_Digital) August 17, 2022
3. CARDANO'S DJED STABLECOIN PARTNERS WITH WINGRIDERS DEX AHEAD OF LAUNCH
Cardano highly anticipated algorithmic stablecoin, Djed - developed by Cardano's IOG along with the COTI network has entered into a partnership with WingRiders, a Cardano-based DEX. According to COTI, the partnership's primary focus is to explore the possibilities of the Djed stablecoin's integration on the WingRiders decentralised exchange.
— COTI (@COTInetwork) August 17, 2022
GLOBAL CRYPTO MARKET OVERVIEW
CRYPTO MARKET: THE WEEK AHEAD
So the week ahead for the crypto market is going to be quite crucial. There needs to be some positive price action in Bitcoin price and thus the broader crypto market cap, to bring it back into a safe zone. Things are pretty weak as of now and hence a hike in prices of all major cryptos would mean very good news for the short term future of the market. If we see prices recovering back above the diagonal trendline then we will see a resumption of the broad base rally.
Prices as of 18th August, 2022
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