🚨🚨🚨Why crypto market is down today🚨🚨🚨🚨🧐🧐🧐🧐
About 80 of the top 100 coins per market cap have dropped over the past 24 hours. Also, the cryptocurrency market capitalization has decreased by 2.3% to $3.4 trillion. The total crypto trading volume is at $85.7 billion, decreasing over the past few days.
The crypto market slides today amid the consolidating market;
BTC and ETH barely moved since yesterday, currently trading at $106,881 and $2,445, respectively;
Market participants await the release of key macroeconomic data in the US;
Crypto market has entered ‘a summer lull’, with bearish sentiment creeping in;
US spot Bitcoin ETFs broke a 15-day positive flow streak;
Analysts note the market’s “increasing capacity to absorb and rebound from large-scale disruptions”;
“The narrative of robust institutional demand which has so defined this current market cycle remains in place.
Crypto Winners & Losers
Only one of the top 10 coins per market cap has seen its price rise today, while two others are unchanged.
Bitcoin (BTC) stands as one of the coins whose price has not changed over the past day. It currently sits at $106,881.
At the same time, Ethereum (ETH) has decreased by 0.5%, currently changing hands at $2,445.
Tron (TRX) is the only coin that appreciated today, rising 0.9% to the price of $0.2812.
The highest decrease is 1.3% by XRP (XRP), now standing at $2.19.
Additionally, 18 of the top 100 coins saw their prices increase over the past day. Pudgy Penguins (PENGU) appreciated the most, with the only double-digit rise in the category. It’s up 11.7% to $0.01624.
Algorand (ALGO) and Tokenize Xchange (TKX) dropped the most today: 6.2% and 5% to $0.1753 and $23.57, respectively.
Speaking of Pudgy Penguins, the team said on Tuesday that they are about to drop the Pudgy Party mobile game. It’s developed by Mythical Games.