{"id":22284,"date":"2022-08-12T10:06:49","date_gmt":"2022-08-12T04:36:49","guid":{"rendered":"https:\/\/coinswitch.co\/switch\/?p=22284"},"modified":"2022-09-19T18:47:29","modified_gmt":"2022-09-19T13:17:29","slug":"market-update-august-12-2022","status":"publish","type":"post","link":"https:\/\/coinswitch.co\/switch\/crypto\/market-update-august-12-2022\/","title":{"rendered":"Crypto market update: 12 August 2022"},"content":{"rendered":"<p>The last 24 hours saw the broader crypto market correcting a bit\u2014dipping by a marginal 1.01%. Despite the day-on-day dip, the week has been spectacular, returning unrealized gains of almost over 5%.<\/p>\n<p>Talks about the upcoming <a href=\"https:\/\/coinswitch.co\/switch\/crypto\/ethereums-third-and-final-testnet-is-live\/\">Ethereum merge<\/a> dominated most of the weekly conversations, followed by <a href=\"https:\/\/coinswitch.co\/switch\/crypto\/netflixs-gray-man-has-a-metaverse-avatar\/\">Netflix\u2019s foray into the metaverse<\/a>, <a href=\"https:\/\/coinswitch.co\/switch\/crypto\/iran-takes-to-using-crypto-for-imports\/\">Iran\u2019s pro-crypto approach<\/a>, and Taiwan opening its doors to Web 3.0.<\/p>\n<p><strong>Key highlights<\/strong><\/p>\n<p>It\u2019s a Friday, but for the broader crypto space, it is only the fifth day of an event-packed week. Before we head into the weekend, here are the key market highlights to take note of, especially for investors, traders, and HODLers.<\/p>\n<ul>\n<li>The total market volume dropped by 4.38% over the past 24 hours, showcasing a minor dip in trading action.<\/li>\n<li>Bitcoin\u2019s dominance dipped by 0.31% to hold steady at 40.06%.<\/li>\n<li>CRE8\u2014India\u2019s first onshore crypto rupee index\u2014 corrected by 0.96% in the last 24 hours.<\/li>\n<\/ul>\n<p><strong>Key coins<\/strong><\/p>\n<p>While the highlights help you zoom out a bit, here are some of the key cryptos that moved the most in the last 24 hours. Ankr, a multi-chain provider focusing on infrastructure, saw its native token ANKR soar by 60.85%. The project gained after it launched its token staking feature and received fresh capital. ANKR\u2019s trading volume is also up by 1,357%.<\/p>\n<p>Following ANKR is Ethereum Classic (ETC), which gained 8.47% day-on-day and over 196.41% over the past month. Speculations regarding a new Proof-of-Work fork for Ethereum, expected immediately after the completion of the merge, have been driving the prices up.<\/p>\n<p>As for the big players, BTC corrected by 0.96% day-on-day, while ETH continued to gain, registering a 1.49% uptick.<\/p>\n<p><strong>Crypto Fear and Greed Index (CFGI)<\/strong><\/p>\n<p>The Fear and Greed Index is a widely-watched measure that tracks market sentiment. At publishing time, CFGI is at 42, which is a massive improvement over the last month\u2019s reading of 15. The improvement has been primarily brought upon by Ethereum (with Merge talks), but is now percolating through the entire market.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-22290 size-large\" src=\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/08\/unnamed-1-1024x227.png\" alt=\"Crypto market: fear and greed\" width=\"800\" height=\"177\" srcset=\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/08\/unnamed-1-1024x227.png 1024w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/08\/unnamed-1-300x67.png 300w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/08\/unnamed-1-768x171.png 768w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/08\/unnamed-1-1536x341.png 1536w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/08\/unnamed-1-2048x455.png 2048w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<p>The index values are measured between 0-100 with higher levels signifying greed in the market, leading to more buying action. At its lowest, the market is usually fearful with the index showing levels closer to 0.<\/p>\n<p>Meanwhile, the market looks steady, awaiting updates on Ethereum developments with bated breath. Keep a watch on sentimental movers (including BTC price, Polygon updates, etc) that can have a bearing on the market. Yet, as always, you should focus on DYOR (doing your own research) to stay ahead of every broader development in the market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The last 24 hours saw the broader crypto market correcting a bit\u2014dipping by a marginal 1.01%. Despite the day-on-day dip, the week has been spectacular, returning unrealized gains of almost over 5%. Talks about the upcoming Ethereum merge dominated most of the weekly conversations, followed by Netflix\u2019s foray into the metaverse, Iran\u2019s pro-crypto approach, and [&hellip;]<\/p>\n","protected":false},"author":76,"featured_media":22288,"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-22284","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\/22284","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=22284"}],"version-history":[{"count":2,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/22284\/revisions"}],"predecessor-version":[{"id":22292,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/22284\/revisions\/22292"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media\/22288"}],"wp:attachment":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media?parent=22284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/categories?post=22284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/tags?post=22284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}