{"id":850,"date":"2022-08-05T06:21:25","date_gmt":"2022-08-05T06:21:25","guid":{"rendered":"https:\/\/solanacrypto.news\/2022\/08\/05\/bitcoin-down-ethereum-up-solana-most-searched-crypto-again\/"},"modified":"2022-08-05T06:21:25","modified_gmt":"2022-08-05T06:21:25","slug":"bitcoin-down-ethereum-up-solana-most-searched-crypto-again","status":"publish","type":"post","link":"https:\/\/solanacrypto.news\/2022\/08\/05\/bitcoin-down-ethereum-up-solana-most-searched-crypto-again\/","title":{"rendered":"Bitcoin Down, Ethereum Up, Solana Most Searched Crypto Again"},"content":{"rendered":"
\n

The largest cryptocurrency, Bitcoin (BTC)<\/strong><\/a>, was in the red, while Ethereum (ETH) was trading with gains on Friday morning. Solana<\/strong><\/a>, which was hit by a hacking event recently, emerged as the top searched coin yet again for the second consecutive day.<\/p>\n

The global crypto market<\/strong><\/a> capitalisation went up by 0.44 per cent to $1.08 trillion as of 8.50 am. However, the global crypto volume was down by 4.71 per cent to $62.98 billion, according to Coinmarketcap data.<\/p>\n

The trading volume in the decentralised finance coins section is about $5.91 billion or 9.38 per cent of the total crypto market 24-hour volume. The volume of all stable coins is $57.87 billion or about 91.89 per cent of the total crypto market volume in the last 24 hours.\u00a0<\/p>\n

Bitcoin<\/strong><\/h2>\n

As of 8.50 am, Bitcoin fell 0.3 per cent to $23,070.42 and currently commands a 40.73 per cent dominance in the crypto market.<\/p>\n

Anthony Scaramucci, founder and managing partner, Skybridge Capital, a global asset management company, said in an interview to Marketwatch that he believes the worst of the crypto bear market is over and that Bitcoin has already bottomed out.<\/p>\n

\u201cWe believe that the leverage has been blown out of the system. I don\u2019t think it\u2019s going below the low that was reached for this cycle, which would be at around $17,500. According to our fair market value metrics based on adoption, wallet size, use cases, growth of wallets, we think the fair market value for bitcoin right now is about $40,000.\u201d<\/p>\n

The price of Bitcoin inched downwards but not too much to be called a crash. Bitcoin fell from its highest point of $23,153 at 11.38AM on August 4 to its lowest point of $22,675 at 12.02AM on August 5, and finally as of this morning managed to cut down its losses and settle at $23,070.42 as of 8.50AM.<\/p>\n

Ethereum<\/strong><\/h2>\n

The price of Ethereum (ETH) this morning was $1,658.91 and it was up by 0.51 per cent.<\/p>\n

Regarding price analysis, Ethereum made some bold moves. It seems that although the price of Ethereum touched an intraday low of $1,585.33 at 3.44 AM on August 5, it made a comeback and recovered all its losses and is now trading with gains at its day\u2019s high.<\/p>\n

Other Altcoins<\/strong><\/h2>\n

Solana (SOL<\/strong><\/a>) seems to be today\u2019s most searched coin on Coinmarketcap. Solana was yesterday\u2019s most searched coin too after several Solana hot wallets were hacked and wiped clean of money.<\/p>\n

The price of Solana was up by 0.69 per cent at $39.65. Although Solana touched an intraday low of $38.04, it did not close at that level, rather it managed to recover and is now trading higher.<\/p>\n

This may be because of the clarification by Solana on Twitter, which read, \u201cThere is no evidence the Solana protocol or its cryptography was compromised.\u201d<\/p>\n

Cardano (ADA) rose by 0.36 per cent at $0.51. The 24-hour trading volume for ADA was down by 0.37 per cent at $514,596,550.<\/p>\n

Binance (BNB) was up by 4.01 per cent at $312.91. Its 24-hour trading volume was down by 13.01 per cent at $1,882,882,795.<\/p>\n

Meme Coins<\/strong><\/h2>\n

Dogecoin (DOGE) was up by 1.8 per cent at $0.06822. Its 24-hour trading volume was down by 1.26 per cent at $261,019,585.<\/p>\n

Shiba Inu (SHIB) was up by 0.4 per cent at $0.00001198.<\/p>\n

Decentralised Finance (DeFi)<\/strong><\/h2>\n

Yearn.Finance (YFI) was up by 0.4 per cent at $10,896.20. Its 24-hour trading volume was down by 9.8 per cent at $89,264,316.<\/p>\n

Avalanche (AVAX) fell 0.44 per cent at $23.83 and its 24-hour trading volume fell 23.28 per cent at $440,624,748.<\/p>\n

Aave (AAVE) was trading with a gain of 3.61 per cent at $100.84 and its 24-hour trading volume was down by 6.43 per cent at $200,356,144.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

The largest cryptocurrency, Bitcoin (BTC), was in the red, while Ethereum (ETH) was trading with gains on Friday morning. Solana, which was hit by a hacking event recently, emerged as the top searched coin yet again for the second consecutive day. The global crypto market capitalisation went up by 0.44 per cent to $1.08 trillion […]<\/p>\n","protected":false},"author":1,"featured_media":851,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-850","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/posts\/850","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/comments?post=850"}],"version-history":[{"count":0,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/posts\/850\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/media\/851"}],"wp:attachment":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/media?parent=850"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/categories?post=850"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/tags?post=850"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}