Dogecoin surges over 10%, Ripple gains 5%

Major cryptocurrencies traded in the green early on August 17 as the global crypto market cap declined 0.74 percent to $1.14 trillion over a day earlier. On the other hand, the total crypto market volume over the last 24 hours dropped 17.83 percent to $64.83 billion.

The total volume in DeFi stood at $5.15 billion, 8.01 percent of the total crypto market 24-hour volume. The volume of all stable coins was at $59.59 billion, which is 92.69 percent of the total crypto market 24-hour volume.

The price of Bitcoin hovered around Rs 19 lakh, with a dominance of 40.06 percent. This was a 0.09 percent decrease over the day, according to data from CoinMarketCap.

In other news, the “last flush” of sellers, indicated by a recent rise in short-term Bitcoin (BTC) holdings, shows that capitulation events have concluded and the market is now set for months of accumulation, according to an on-chain report by blockchain analytics firm Glassnode.

According to the recent “The Week On Chain” report, Since the disastrous Terra collapse in May, short-term holders (STHs) have increased their holdings by 330,000 BTC, indicating the direction of a market rebound.

Short-term Bitcoin holders have started a new trend by buying extremely inexpensive coins at or around $20,000 during the large sell-offs that began in May through June, putting them in an “advantageous financial position.” Read full story

As of 8.20 am on August 17, these are the prices of largest cryptocurrencies (data from WazirX):

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