The global crypto market cap has plummeted by 0.44% in the last 24 hours, just above $2.08 trillion. The Fear & Greed Index has 46 points for a neutral sentiment. The prices could react in the coming days because several factors are coming into play.
For starters, Donald Trump has launched his digital trading cards. Second, Immunefi has reported that malicious actors stole just half of what they did in July this year, demonstrating a cut of hack attacks by almost 50%. Third, 40 nations have reportedly joined the US in combating crypto crimes that originate from North Korea.
Bitcoin and Ethereum show no movements
Both tokens are pretty much where they were yesterday. BTC is hovering around $59,113.03, dropping 0.13% in the last 24 hours. It continues to dominate the crypto market with over half a share. Ultimately, the ETF has gained more attention. Spot Bitcoin ETF marked the 3rd consecutive day of net outflow on August 29, 2024, after $71.8 million was drained from the system. Grayscale led this but was surprisingly joined by BlackRock. This has made it the first time for IBIT to see a negative flow.
ETH is exchanging hands at approximately $2,522.10, down by 0.25% during the same time window. Spot Ether ETF also marked a net outflow of $1.7 million on August 29, 2024. The effect of downsizing is such that it has broken the morale of investors and whales. It is believed that prices went down as a result of orchestrated efforts by whales.
Meme Coins manage to sustain their prices
Dogecoin is down only by 0.22% in a single day, with a trading value of $0.1003. Shiba Inu is at $0.00001398, with a rise of 0.23% during the same frame. SHIB is attempting to make a breakthrough for $0.000015 with a short-term triangle. It could push for minor recoveries before hinting at a major jump later this year. The next 5 days are projected to see the meme coin soar by 116.65% for a value of $0.00003060 amid a volatility of 6.60%.
DOGE has advanced in a lawsuit in which Elon Musk and Tesla were alleged to have promoted a pyramid scheme. Investors had filed an allegation against Musk and his company, but a New York Federal Judge has now dismissed that lawsuit. It will not progress from that point. Hence, this is a sign of relief for the billionaire and his global venture.
Other Gainers and Losers
Gainers are few, but TRX and ADA have marked an uptick of 0.70% and 0.61%, respectively, in the last 24 hours. Their token values are $0.16 and $0.3568, applicable in the same order. XRP and SOL have failed to rise since speculation about their ETFs cooled down.
PEPE has regained momentum after surging by 0.34% to a value of $0.000007716. The frog-themed meme coin remains one of the most popular tokens in the market. BRETT is not new to the trend but does come as a surprising entry. It is up by 1.16% and hovers around $0.08149.
Conclusion
Crypto markets appear stable at the moment. There are no dips or surges on the price chart except for a few developments that could contribute to the future. More reports and developments are expected over the weekend.
Disclaimer: All values in the article are true at the press time. Content is only for reference and should not be taken as investment advice or recommendation.
