Bitcoin, Ethereum Drop as Crypto Market Cap Dips Below $2.1T

The crypto prices exhibited varying movements in the market today according to the crypto heat map. Some coins are traded in green, however, the majority of the market is currently in the red zone.

Crypto prices varied on August 20 as some coins traded in the green zone, while the majority of the market was in the red. Failing to sustain the rally ignited on August 20, the total crypto market cap has declined by about 1.58% to $2.11 trillion in the last 24 hours.

Consequently, investor confidence surrounding the market, as measured by the crypto fear and greed index, has continued to hover in the ‘fear’ region, dropping by 4 points from yesterday’s 30 to 26 today according to data from Alternative. Below is an overview of how the crypto market has reacted in the last 24 hours.

Top Crypto Prices Today

The price of Bitcoin has lost the gains accumulated during the brief rally yesterday. The coin jumped as high as $61k at the time but has lost that mark at the time of writing. According to CoinMarketCap, BTC traded at $59,725 at press time, signifying a 1.88% decrease in value in the last 24 hours. Moreover, its one-day trading volume also dropped by 8% indicating reduced activities among traders and investors.

Amid the downturn, the digital asset saw impressive inflows in its exchange-traded fund products within this time. Soso Value Data shows that the daily total net inflow of BTC ETF as of August 20 was $88.06 million. Additionally, Coinfomania reported earlier that the defunct exchange Mt. Gox has resumed Bitcoin transfers, moving over $800 million worth to two separate wallets for redistribution to its rehabilitation creditors.

Similarly, the second-largest cryptocurrency in the market, Ethereum, has dropped its value within the last day. Per CMC data, the price of ETH declined by 2.57% to change hands at $2,590. Moreover, the spot Ether ETF repeated negative flows as of Aug 20, recording a -$6.49 million daily inflows. Ethereum touched the lows and highs of $2,562.11 and $2,673.98 respectively in the last 24 hours.

Top Altcoin Prices

The price of SOL lost 2.96% of its value at the time of writing to change hands at $143.22. Additionally, Solana saw a low and high of $141.12 and $147.30 respectively. XRP also declines within the last day. CMC data shows that the price of XRP dropped by 1.43% to trade at $0.5986. Its 24-hour lows and highs were recorded at $0.5884 and $0.6134.

The fourth-largest cryptocurrency Binance Coin (BNB) dropped by 1.93% to trade at $556.92, maintaining a 24-hour range of $558.25 and $573.92 respectively. Toncoin saw the most losses among the top cryptocurrencies in the last 24 hours. At the time of writing, the price of Toncoin (TON) plummeted by 3.01% to $6.66, having one-day lows and highs of $6.59 and $6.87.

In the memecoin sector, Dogecoin (DOGE) and Shiba Inu (SHIB) declined over the last day. While DOGE lost 0.97%, SHIB dropped by 0.50%. As a result, DOGE and SHIB traded at $0.1043 and $0.00001378 respectively.

Top Trending Crypto Gainers Today

Meanwhile, the newly launched SUNDOG memecoin on Tron’s SunPump ecosystem has gathered attention across the crypto community after it surged over 100x in the last 24 hours. The Justin Sun-affiliated token has been projected to be the first memecoin on the SunPump memecoin platform that will reach a $1 billion market valuation.

The platform which has experienced staggering traffic had to shut down for about 15 minutes at some point before service was restored. At the time of writing the coin is up by 56.31% to trade at $0.2638. SUNDOG occupies the first position on the top gainers list today.

Other notable gainers include;

Voxies (VOXEL) surged 53.12% to $0.2211

Sun New (SUN) moved up by 31.21% to $0.01537

SuperRare (RARE) gained 28.67% to $0.2767

Aave (AAVE) added 6.11% to $