Crypto On August 5: Market Turns Sluggish As BTC, ETH Retain $23,000 And $1,600

Crypto On August 5: Market Turns Sluggish As BTC, ETH Retain $23,000 And $1,600

The crypto market for Friday is devoid of volume as Bitcoin (BTC) jumped 0.14% while Ether (ETH) rose 0.04% in the last 24 hours. Moreover, the broader market showed mixed reactions to the movement of the leading cryptocurrencies. 

The trading volume of BTC dropped by 1.50% while the volume for ETH dropped by 6.98%, according to CoinMarketCap. Additionally, the dominance of the two cryptocurrencies was 40.84% and 18.61%, respectively, which confirms that Ethereum is outperforming Bitcoin in a longer timeframe. 

The top 10 cryptocurrencies did not perform extraordinarily as Ripple (XRP) rose 0.72% to $0.3761, Cardano (ADA) rose 0.20% to $0.5101, Solana (SOL) rose 1.36% to $40.04 and Polkadot (DOT) rose 2.11% to $8.41 as of 12:55 a.m. ET. 

The best performers for the day include Litecoin (LTC), which rose by 4.07% to $61.53; Flow (FLOW), which rose by 32.76% to $2.54; Aave (AAVE), which rose by 3% to $100.70; ZCash (ZEC), which rose by 7.07% to $67.75 and Vaves (WAVES), which rose by 13.40% to $6.51 as of 12:55 a.m. ET. 

The worst performers in the crypto market today include THORChain (RUNE), which dropped by 2.56% to $2.68; Optimism (OP), which dropped by 4.94% to $2.04; Bitcoin Gold (BTG), which dropped by 1.96% to $29.01 and Mina (MINA) which dropped by 1.06% to $0.8035 as of 12:36 a.m. ET. 

Illustration picture of cryptocurrencies Representations of cryptocurrencies including Bitcoin, Dash, Ethereum, Ripple and Litecoin are seen in this illustration picture taken June 2, 2021. Photo: Reuters / FLORENCE LO