Top Cryptocurrency Market News

Some of the major meme coins have reduced their gains and are struggling to maintain momentum according to CoinGecko data. Currently, only Dogecoin (DOGE) among major cryptocurrencies is losing, having increased by over 1.5% in the past 24 hours. Shiba Inu (SHIB) is also in the red, losing 3% in the past 24 hours. Dogwifhat, a Solana-based startup, is down by more than 3% despite previously showing a double-digit growth. Bonk, another Solana-based cryptocurrency, is the worst performer among the leading altcoins, losing over 8%. Greed returns to the market. According to the Fear and Greed index, greed is once again dominating the market. However, this excitement may be premature as Bitcoin is still struggling to surpass the $64,000 level. A significant shift in sentiment occurred after the leading cryptocurrency faced 'fear' following a massive drop to $56,000 last week. Bitcoin experienced a significant drop last week due to rising concerns about stagflation and alarmingly high Bitcoin ETF outflows. However, concerns about stagnation appear to have been eased by recent economic data. It is likely that the US Federal Reserve may start lowering interest rates in September following a recent jobs report. Additionally, Grayscale's GBTC recently saw its first inflows since launch. Top performers. With Bitcoin in consolidation mode, other major cryptocurrencies are also striving to achieve significant gains. However, there are still some exceptions. Monero (XM) and Avalanche (AVAX) both have increased by almost 3%. Algorand (ALDO) and NEAR Protocol (NEAR) are also in the green despite being labeled as unregistered securities in the recent lawsuit against Coinbase.