During Thursday afternoon trading in Hong Kong, Bitcoin and Ether experienced a decline, while the rest of the top 10 non-stablecoin cryptocurrencies, with the exception of Dogecoin, saw an increase in their market capitalization.
Slight Movements in Today’s Market Report on Bitcoin, Ether and Dogecoin
Bitcoin remained relatively stable, trading at US$29,426 at 4:30 p.m. in Hong Kong during afternoon trading in Asia, following its drop below the US$30,000 support level on Monday. Meanwhile, Ether experienced a slight decrease of 0.1% to US$1,872 during afternoon trading in Asia and has fallen 1.89% over the past week.
Despite crypto revenues remaining over 50% lower than their peak in 2021, the second quarter of 2023 marked the first time the asset class achieved overall profitability, making it more attractive to institutional investors. This profitability is being driven by the increasing economic viability of blockchain applications.
Solana’s SOL token led the top 10 with a 5.91% increase to US$24.97 over the past 24 hours, followed by Polygon’s Matic token, which gained 3.04% to US$0.7281. In contrast, Dogecoin was the only top 10 token to decline, falling 1.87% to US$0.07896 and reversing its gains from the previous three days.
According to data from CoinMarketCap, the total market capitalization of cryptocurrencies increased by 0.94% to US$1.19 trillion over the past 24 hours, while market volume saw a significant rise of 16.71% to US$30.77 billion.
Bitcoin’s non-fungible token (NFT) sales over the past 24 hours have begun to recover, increasing by 3.28% to US$598,139, according to CryptoSlam. This keeps the network in sixth place for 24-hour NFT sales volume.
In contrast, Ethereum’s 24-hour NFT sales have continued to fall, dropping by 59% to US$13.35 million. Sales for the Bored Ape Yacht Club, the largest Ethereum-native NFT collection, decreased by 5.66% to US$969,388, while CryptoPunks sales saw a significant increase of 55.48% to US$336,878.
