Bitcoin, Ether slip, top 10 cryptos fall led by Tron
Bitcoin and Ether slipped during Monday afternoon trading in Hong Kong along with all other top 10 non-stablecoin cryptocurrencies by market capitalization, except the BNB token, with crypto markets poised for an uneventful month ahead, industry experts told Forkast.
See related article: Weekly Market Wrap: Bitcoin falls below key US$30,000 support level, as market optimism over ETFs ebbs
Bitcoin, Ether remain under key levels, top 10 cryptos fall, Tron leads declines
Bitcoin was little changed during afternoon trading in Asia, trading at US$29,363 as of 5:15 p.m. in Hong Kong. The world’s largest cryptocurrency has been trading below US$30,000 since last Monday.
Ether slipped 0.21% during afternoon trading in Asia to US$1,866.
“The market is in a consolidation phase at the moment, so I’m not expecting anything massive,” Lachlan Feeney, founder and chief executive officer of blockchain development firm labrys, told Forkast.
“I’m expecting maybe a little bit of a boring market overview. The boring markets price-wise are often the most exciting phase of the market development and technology-wise.”
Tron’s TRX token was the day’s biggest loser, falling 4.52% to US$0.07848, followed by Polygon’s Matic token, down 1.41% to US$0.7021.
Despite the price drop, average daily transactions on the Tron network exceeded 9 million in the second quarter of 2023. That daily volume has contributed to an annual rise of 91.24%, according to a report released by Coin98 Analytics on July 19.
The total crypto market capitalization over the past 24 hours rose 0.08% to US$1.19 trillion while market volume increased 53.92% to US$27.43 billion, according to CoinMarketCap data.
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Bitcoin, Ether slip, top 10 cryptos fall led by Tron
Bitcoin and Ether slipped during Monday afternoon trading in Hong Kong along with all other top 10 non-stablecoin cryptocurrencies by market capitalization, except the BNB token, with crypto markets poised for an uneventful month ahead, industry experts told Forkast.
See related article: Weekly Market Wrap: Bitcoin falls below key US$30,000 support level, as market optimism over ETFs ebbs
Bitcoin, Ether remain under key levels, top 10 cryptos fall, Tron leads declines
Bitcoin was little changed during afternoon trading in Asia, trading at US$29,363 as of 5:15 p.m. in Hong Kong. The world’s largest cryptocurrency has been trading below US$30,000 since last Monday.
Ether slipped 0.21% during afternoon trading in Asia to US$1,866.
“The market is in a consolidation phase at the moment, so I’m not expecting anything massive,” Lachlan Feeney, founder and chief executive officer of blockchain development firm labrys, told Forkast.
“I’m expecting maybe a little bit of a boring market overview. The boring markets price-wise are often the most exciting phase of the market development and technology-wise.”
Tron’s TRX token was the day’s biggest loser, falling 4.52% to US$0.07848, followed by Polygon’s Matic token, down 1.41% to US$0.7021.
Despite the price drop, average daily transactions on the Tron network exceeded 9 million in the second quarter of 2023. That daily volume has contributed to an annual rise of 91.24%, according to a report released by Coin98 Analytics on July 19.
The total crypto market capitalization over the past 24 hours rose 0.08% to US$1.19 trillion while market volume increased 53.92% to US$27.43 billion, according to CoinMarketCap data.
Read More