Crypto Beginner

Crypto market update: 9 August 2022 

Crypto market update

The crypto is off to a good start this week, led by Ethereum (ETH) and Polkadot (DOT). Polkadot saw a 7.3% rise, while Solana—another key gainer—was up 3.6%. Meanwhile, Bitcoin touched $24,203 briefly in yesterday’s session—its highest since the end of July. Ethereum rallied to $1,806, its highest since early June.

The global crypto market is steady after yesterday’s early low and late pullback. The global crypto market cap is currently $1.12T, with a 1.86% increase since yesterday.

Crypto Fear and Greed Index

The week began on a positive note, with BTC providing a much-needed boost to the Fear & Greed Index—a tool to gauge the crypto market. The index rose from 30/100 to 42/100, bringing the number up to the previous high on 30 July. The Index improved after BTC reached the $24,000 resistant level for a brief moment yesterday. BTC rallied by 2.75% and ended the day at $23,818.

Top gainers and losers

Republic Protocol (REN) leads the way, rallying by 36.81%. Indexing protocol The Graph (GRT) and decentralized blockchain Harmony (ONE) also did well. They gained 14.41% and 8.81%, respectively.

On the other hand, yesterday’s top gainer, AirSwap (AST), led the way downward, falling by 8.64%. Quantstamp (QSP) and Theta Network (THETA) also see significant losses—3.37% and 3.31%, respectively.

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