{"id":21798,"date":"2022-08-05T09:55:09","date_gmt":"2022-08-05T04:25:09","guid":{"rendered":"https:\/\/coinswitch.co\/switch\/?p=21798"},"modified":"2024-06-06T15:50:21","modified_gmt":"2024-06-06T10:20:21","slug":"market-update-5-august-2022","status":"publish","type":"post","link":"https:\/\/coinswitch.co\/switch\/crypto\/market-update-5-august-2022\/","title":{"rendered":"Crypto market update: 5 August 2022"},"content":{"rendered":"<p>Friday begins with the crypto market in green\u2014an uptick of 0.83% at release. Despite the back-to-back breaches experienced between the 2nd and 4th of August, the broader space looks robust for now.<br \/>Last week\u2019s relief rally seems to have fizzled out, but the market cap holds steady at $1.08 trillion\u2014up by 0.44% over the past 24 hours.<\/p>\n<p><strong>Key highlights<\/strong><\/p>\n<p>As we approach the weekend, it may be appropriate to take a closer look at some key figures that have revealed themselves this morning:<\/p>\n<ul>\n<li>Despite the marginal increase in the 24-hour market cap, the daily trading volume seems to have dipped by almost 5% as of 5 August 2022.<\/li>\n<li>Stablecoins seem to have contributed 92.15% of the entire trading volume registered since yesterday.<\/li>\n<li>Bitcoin\u2019s market dominance is at 40.73%, down by 0.43%, day on day.<\/li>\n<li>CRE8, India\u2019s first onshore crypto index, was trading at \u20b92,978.40 (as of 5 August, 8.30 am), up by 1.77%, on a day-to-day basis.<\/li>\n<\/ul>\n<p><strong>Key coins<\/strong><\/p>\n<p>The top 10 crypto assets by market capitalization stayed put during the past 24 hours. They were able to keep steady due to the lack of actionable market-moving news or sentiments. While assets like Ethereum (ETH) and Ripple (XRP) gained close to half a percent, Binance Coin (BNB) managed to outperform the market with a day-on-day upmove of 3.59% at release.<\/p>\n<p>Interestingly, not many top cryptos corrected a lot, showing that Thursday was more of a rangebound day for the market.<\/p>\n<p>Meanwhile, Celer Network (CELR)\u2014a scaling-based project\u2014seems to have gained the most over the past day or so, sitting on 9.97% gains. Following CELR is the ultra-fast DeFi project Fantom (FTM), up by close to 7.30%.<\/p>\n<p>Coming to the assets that were corrected in the past 24 hours, Quantstamp (QSP)\u2014a smart-contract project\u2014took the lead, dipping by over 14%. Despite recording epic domain registration numbers in July (378K), ENS corrected by 6.45%.<\/p>\n<p><strong>Crypto Fear and Greed Index<\/strong><\/p>\n<p>The crypto market steadiness seems to be working positively, from a sentimental view. The <a href=\"https:\/\/coinswitch.co\/switch\/crypto\/crypto-fear-and-greed-index\/\">Crypto Fear and Greed Index (CFGI)<\/a> is currently at 31. While we are still in the fearful territory, this figure was a significant improvement from last month\u2019s 18.<\/p>\n<p>Overall, Friday looks a tad pedestrian with no big moves to track as of now. We still recommend a Do-Your-Own-Research (DYOR) strategy and some caution.<\/p>\n\n<div id=\"rank-math-faq\" class=\"rank-math-block\">\n<div class=\"rank-math-list \">\n<div id=\"faq-question-1717667450197\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \">What&#8217;s the current state of the crypto market?<\/h3>\n<div class=\"rank-math-answer \">\n\n<p>The crypto market has seen a recent decline, with the total market volume falling by 9.22% in the last 24 hours<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1717667458614\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \">Which cryptocurrencies are performing well?<\/h3>\n<div class=\"rank-math-answer \">\n\n<p>As of June 2024, top-performing cryptocurrencies include Binance Coin (BNB), Solana (SOL), and U.S. Dollar Coin (USDC)<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1717667459257\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \">What&#8217;s the sentiment among traders and investors?<\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Investor sentiment is cautious due to market volatility and recent declines, influencing their investment decisions<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1717667460506\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \">Which cryptocurrencies are struggling?<\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Bitcoin and other major cryptocurrencies are experiencing a downturn, with Bitcoin currently trading down by 2.82%<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Friday begins with the crypto market in green\u2014an uptick of 0.83% at release. Despite the back-to-back breaches experienced between the 2nd and 4th of August, the broader space looks robust for now.Last week\u2019s relief rally seems to have fizzled out, but the market cap holds steady at $1.08 trillion\u2014up by 0.44% over the past 24 [&hellip;]<\/p>\n","protected":false},"author":76,"featured_media":21801,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[460,6552],"tags":[6467,6602,6536],"class_list":["post-21798","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","category-market-update","tag-crypto","tag-market-update","tag-news"],"acf":{"json_ld_schema":"\n[{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#FAQPage\",\"headline\":\"Wall Street jottings: A personal, guided tour to investing in US stocks\",\"keywords\":\"Personal Guide, US Investing, \",\"datePublished\":\"2022-07-22T13:28:55+05:30\",\"dateModified\":\"2022-07-22T13:28:55+05:30\",\"dateCreated\":\"2022-07-22T13:28:55+05:30\",\"author\":{\"@type\":\"Person\",\"name\":\"Praniket Nayka\",\"description\":\"\",\"url\":\"https:\/\/coinswitch.co\/switch\/author\/praniket\/\",\"sameAs\":[],\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/4b22173b861c31fe922bbaf46c336561?s=96&d=mm&r=g\",\"height\":96,\"width\":96}},\"image\":[{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#primaryimage\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings.jpg\",\"width\":\"1800\",\"height\":\"1080\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x900.jpg\",\"width\":\"1200\",\"height\":\"900\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x675.jpg\",\"width\":\"1200\",\"height\":\"675\"}]}]\n","json_ld_custom_schema":"","youtube_vodeo_url":"","seo":{"title":"","keywords":"","description":"","canonical":""},"blog_banner_image":false,"blog_coin":false,"download_the_app":{"button_value":"","button_url":""},"twitter_card":{"twitter_title":"","twitter_description":"","twitter_link":""},"maturity_tag":"Beginner","post_author":false,"guest_author":false,"hide_toc":true,"key_takeways":false,"select_disclaimer":"Article Default Disclaimer"},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/21798","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/users\/76"}],"replies":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/comments?post=21798"}],"version-history":[{"count":6,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/21798\/revisions"}],"predecessor-version":[{"id":40527,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/21798\/revisions\/40527"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media\/21801"}],"wp:attachment":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media?parent=21798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/categories?post=21798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/tags?post=21798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}