Crypto Market Analysis | 29 August 2024 

Crypto market analysis

With another volatile day in crypto, Bitcoin bears dominated the market for most of the day, with little signs of relief. While bulls were able to hold Bitcoin above the $58k mark, any breakout attempt is greeted with aggressive sell-offs.

As Telegram co-founder Pavel Durov got free from police custody to appear before the French court, Telegram-based TON blockchain stopped producing blocks for the second day in a row as the markets dropped all gains it made post Durov’s release. Even after this, TON’s latest memecoin DOGS pumped 19% in the day and remained the top gainer among the top 500 coins by market cap.

On the other hand, one of the largest NFT exchanges, OpenSea received a Wells notice from the US SEC yesterday for violating security laws, sparking negative comments from the industry.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered investment/financial advice from CoinSwitch. Any action taken upon the information shall be at the user’s risk.

Share this:

Table of Content

Recent Post

Subscribe to our newsletter

Weekly crypto updates and insights delivered to your inbox.

Browse our Newsletter Archive for past editions.

SnowSnow

Thank you for subscribing!
Please verify your email to start receiving the latest issues from Switch in your Inbox.
Powered by

Build your crypto portfolio on the
CoinSwitch app today

Scan the QR code below or find us on Google Play
Store or Apple App Store.

Build your crypto portfolio on the
CoinSwitch app today

Scan the QR code below or find us on Google Play Store or Apple App Store.

2 Crore+ users trust CoinSwitch, India's safest crypto platform | 180+ Coins | ISO 27001 Certified | FIU Compliant