Daily Crypto Update: Market fluctuates, while BTC gains stability

The week is not ending on a positive note for the crypto market. The industry shows signs of constant fluctuations, with a handful of top assets stabilizing.

Bitcoin, XRP, and Solana have lost less than 1% value in the past 24 hours. Toncoin, on the other hand, is one of the rare coins that have gained value on Thursday. 

The rest of the top cryptos are having a rough time in the market. Even the majority of the altcoins are struggling to find a strong footing right now. So, here is the daily crypto market update with the latest trading developments.

Bitcoin

The industry leader is not having the best of months, as August has spelled troubles for BTC. In less than a month, the coin has dropped from the 70k-dollar mark to 58,000 dollars.

In the past 24 hours alone, Bitcoin has lost 0.61% of its market value. It is currently trading at 58,222 dollars, with a gradual price uptick. Its 7-day performance shows a dip of 4.37% with massive transactions across the market.

Recently, Washington transferred 594 million dollars of Silk Road Bitcoin to Coinbase. Similarly, BTC wallet activity also showed a shift worth 67 million dollars.

Ethereum

The world’s second-largest crypto has fallen behind BTC in the past few weeks. In the past 24 hours, the crypto has lost around 2% value and is currently trading at 2,600 dollars.

Its 7-day performance also showcases a 2.47% dip. On the ETF front, Ethereum shows a neutral outflow among 6 ETFs. However, Grayscale’s ETHE has lost 42.5 million dollars.

Toncoin

TON has once again surprised the market by going against the norm. In the past 24 hours, the crypto has gained 1.48% in value.

It is currently trading at 6.80 dollars, with a gradual growth rate. Its 7-day performance also shows a 6.86% growth. Qubetics Whitelist recently joined the Toncoin network, helping the coin gain additional exposure in the market.

Cardano

ADA has been struggling for the past few weeks, and the story continues this week as well. Generally known for its stability, the coin has lost 6.34% value in the past 7 days.

It is currently trading at 0.32 dollars, with a 3.57% drop in the past day alone. Cardano has not made any major developments recently. As a result, its decline can be attributed to the slow decline of Bitcoin and the overall crypto market.

Fantom

Fantom is known in the market for its L1 blockchain and open-source smart contract platform. 

FTM, the native currency of the Fantom network, has made quick strides in the market recently. The coin has gained 6.11% value in the past day, reaching 0.39 dollars.

It has earned over 16% value in the past week, while its monthly performance shows a 24% dip. Despite rapid market shifts, FTM with TRON continues to attract investors with constant growth.