Cryptocurrency Prices August 29: Bitcoin Battles at $111K, Altcoins in Red, Solana Soars More Than 22% This Week

Despite a little recovery, Bitcoin, the undeniable market leader in cryptocurrencies, is still under pressure. The price of Bitcoin is currently fighting to stay above $110,000 after falling more than 5% over the previous 30 days. Because of the repercussions of the recent crypto meltdown, the broader crypto market is displaying mixed signals, with some coins recovering while others continue to show weakness.

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Bitcoin (BTC) Price Today

The price of bitcoin is currently around $111,874.25. Its daily trading volume is $18.61 billion, and its market capitalization is $2.23 trillion. Bitcoin has lost 1% of its value in the past day, but it is gradually recovering.

“BTC fell below $112,000 after peaking at about $113,300. An early upward drive stalled after being repeatedly rejected at $113,300, which led to a gradual slide. With $111,500 serving as immediate support, the decline below $112,000 verifies that sellers are still in control. Stabilization requires a quick rebound above $112,500–$113,000. Bitcoin ETFs had inflows of $115 million for the fourth day in a row. according to the Markets Desk at CoinSwitch.

Ethereum (ETH) Price Update

The price of Ethereum dropped 1.73% in a day to $4,494.20. ETH quickly exceeded $4,600 but was unable to sustain the gain. Midway through the session, the decline quickened, with ETH falling to $4,440 before seeing some respite. The second-biggest cryptocurrency is ETH. Notwithstanding today’s decline in ETH pricing, it has gained 17.99% over the last week, with a market capitalization of $543.16 billion and a daily volume of $18.33 billion.

XRP, BNB, Solana, and Other Altcoins

With a market valuation of $175.14 billion, XRP is currently trading at $2.94, down 2.30%. The price of Solana (SOL), which is up 22.07% on a weekly basis and 8.15% on a 24-hour basis, is at $216.95, while Binance Coin (BNB) is up 0.55% at $873.44.

TRX: The price of the TRON coin dropped 1.12% to $0.344. With a 6% decline over the past seven days, Tron is among the market’s biggest losers.

ADA: Cardano’s price has dropped 2.11% over the past day to $0.8531. Although ADA is up 12% per month, it has down roughly 8% during the past seven sessions.

Stablecoins Remain Steady

Tether (USDT) and USD Coin (USDC), two stablecoins, are still steady. With USDT at $1.00 and USDC nearly equal at $0.9999, investors have a secure choice even in times of market turbulence.

DOGE: Dogecoin’s current price is $0.2224, down 0.81%, and its market capitalization is $33.59 billion.

Crypto Market Movers:

“The price of Bitcoin is maintaining momentum by printing modestly higher highs and lows while consolidating between $111,500 and $112,000.” Ethereum prices are also rising around $4,500 at the same time, and BinanceCoin is reaching all-time highs. While XRP and ADA have been held below $3 and $0.9, respectively, Solana has overcome the crucial resistance of $210 and is already close to $220.

The day’s top gainers are Pyth Network, which has increased by more than 90%, Pump.fun, which has increased by more than 15%, and Conflux, which has increased by 10%. In addition, Cronos fell 14.5%, followed by Hyperliquid, Aerodrome Finance, and Pendle, all of which fell more than 4%. The CoinDCX research team says so.

The U.S. Commodity Futures Trading Commission (CFTC) declared in a regulatory update that international cryptocurrency exchanges can now lawfully offer services to U.S. customers as long as they register under the international Board of Trade (FBOT) framework. It is anticipated that this action will improve monitoring of offshore trading platforms and boost international involvement in the U.S. cryptocurrency industry. according to a CoinSwitch article.

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