Cryptos Continue To Record Gains

Cryptocurrencies continued to rally amidst a momentum in world markets and a waning risk aversion. While Dollar retreated, Gold surged ahead. However, investors await anxiously the Fed Chair Powell’s comments on monetary policy and interest rate hikes at the Jackson Hole symposium on Friday.

Overall crypto market capitalization ranged between $1.02 trillion and $1.05 trillion in the past 24 hours. It is currently at $1.05 trillion.

Bitcoin gained almost a percent overnight to trade at $21,677.84. BTC ranged between $21,362.44 and $21,789.64 in the past 24 hours. Bitcoin Dominance stands at 39.6 percent of the overall crypto market.

Ethereum gained 3 percent overnight and is currently trading at $1,704.24. Ether ranged between $1,712.53 and $1,646.05 in the past 24 hours. Ether’s dominance of the crypto market is currently at 19.9 percent.

3rd ranked Tether (USDT), traded at $1 in the past 24 hours. 4th ranked USDCoin (USDC), traded between $1.00 and $0.9997 in the past 24 hours.

5th ranked BNB (BNB) gained 1.7 percent overnight to trade at $302.32.

Binance USD (BUSD), ranked 6th overall traded between $1.00 and $0.9995.

7th ranked XRP (XRP) added 0.7 percent overnight. 8th ranked Cardano (ADA) edged up 0.30 percent while 9th ranked Solana (SOL) gained 0.90 percent.

10th ranked Dogecoin (DOGE) is trading with gains of more than 2 percent.

81st ranked Decred (DCR) is the top gainer with a 14 percent uptick in the past 24 hours. DCR tagged as a “Medium of Exchange” cryptocurrency is also known for using a hybrid PoW/PoS consensus mechanism. The cryptocurrency has gained 3 percent in the past week and 37 percent in the past month.

92nd ranked Ankr (ANKR) continued the good show, gaining 9 percent in the past 24 hours. ANKR had gained 14 percent a day earlier as well.

19th ranked Ethereum Classic (ETC), 12th ranked Shiba Inu (SHIB), 98th ranked yearn.finance (YFI) and 23rd ranked Cosmos ( ATOM) are the other big gainers.

53rd ranked Helium (HNT) is the biggest loser, having shed 7.7 percent. The decentralized blockchain-powered network for Internet of Things (IoT) devices had gained 12 percent a day earlier.

41st ranked Chiliz (CHZ) has declined 6.7 percent overnight but is still holding on to gains of more than 3 percent in the week.

67th ranked Lido DAO (LDO), 29th ranked Bitcoin cash (BCH), 66th ranked Neutrino USD (USDN) and 65th ranked Synthetix (SNX) are other big losers.

The Smart Contracts Category gained 2.2 percent aided by strong gains in Ethereum (ETH) and 5th ranked BNB (BNB). Market capitalization of the category stood at $307 billion, implying a market dominance of 29.39 percent.

Stablecoins are steady at $153 billion, commanding 14.65 percent of the overall crypto market.

The Centralized Exchanges category which occupies more than 6 percent of the overall crypto market gained 1.4 percent overnight. Except for UNUS SED LEO (LEO) that ranks 2nd in the category most other top cryptocurrencies in the group have recorded strong gains.

DeFi category gained 0.6 percent in the past 24 hours and increased to a market cap of $57 billion or 5.4 percent of the overall crypto market.

The Web3 category also gained 0.8 percent only as gains in top-ranked cryptos were diminished by the 8 percent losses in Helium (HNT).

The NFT and Collectibles category dropped 0.11 percent overnight amidst losses in top ranked Flow (FLOW) and ApeCoin (APE).

The Research Category dropped 0.4 percent to 19 billion or 1.81 percent of the overall crypto market.

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