Red crypto market: ethereum and cardano fall sharply, polkadot falls hard

The start of August does not look very rosy for the cryptocurrency market for the time being. Bitcoin (BTC) is falling slightly again, but many altcoins are already taking a bigger hit today. Yesterday’s hardest risers are today’s hardest fallers.

Meanwhile, another major hack took place last night. A whopping $200 million worth of crypto has been stolen from Nomad, more on that later on Crypto Insiders. The total market cap of crypto is down 3.3% to $1,095 trillion.

📈Market Overview#BTC price trades below $23K

The Top 10 are traded in red zone: $DOT -9.9%, $ETH -6.27%, $SOL -5.31%.

Market cap: $1.11T (-2.73%) $BTC dominance: 39.37% (+1.36%)
Fear & Greed Index: 31 (Fear)

Full Report👉

— CryptoRank Platform (@CryptoRank_io) August 2, 2022

Ethereum is down 6%

Ethereum (ETH) appeared to hold above $1,7,000 last weekend, but lost traction early yesterday. Then the ether price started to fall more and more. ETH briefly found support around $1,650 and $1,625, but quickly slipped through them, dipping all the way to $1,570 early this morning. Since then, ETH has been climbing cautiously and now stands at $1,585, but is still down 6% today.

#ETH trade volume is equal to #BTC volume for the first time this year.

— Clara Medalie (@Clara_Medalie) August 1, 2022

XRP, BNB, SHIB in the minus

Ripple (XRP) holds out stronger today, making another hefty spike to $0.39 last night. However, XRP is down to USD 0.37 this morning and is down 2.4% today. Binance coin (BNB) is also falling slightly deeper, briefly reaching $276 last night. This morning the price recovered to $278, but is still 2.9% in the minus. Shiba inu (SHIB) is down 3.8% today and currently stands at $0.0000117.

DOGE, ADA, AVAX fall faster

Dogecoin (DOGE) is already down 4.4%, falling to $0.066. Avalanche (AVAX) is down 4.8% to $22.6. Cardano (ADA) lost its grip on the $0.5 early this morning and is currently at $0.49 with the price even down 5%.

SOL, MATIC, DOT fall fastest

Solana (SOL) is down a whopping 5.7% to $40.4. Polygon (MATIC) is even down 6.4% and drops to $0.86. Polkadot (DOT) made another big jump on Sunday and was the fastest climber among the largest crypto for a while. However, in the past 24 hours, DOT has fallen the most and now stands at $7.8. This means that DOT is currently 11% in the minus.

1.4 billion MATIC tokens, or 14% of the total supply, have been released from the vesting contract over the past hour

— Sam (@swmartin19) August 1, 2022

Crypto top 100 hardest risers and fallers

The rest of the top 100 also looks generally grim this morning. Bitcoin cash (BCH), chainlink (LINK), apecoin (APE), bitcoin gold (BTG) and maker (MKR) are down 7% today. For ethereum classic (ETC), aave (AAVE) and kusama (KSM), that is 8%.

Lido (LIDO) and amp (AMP) are already 10% in the min. Internet computer (ICP), graph (GRT) and arweave (AR) are down by about 11%. EOS (EOS) is 12% in the minus. Then we have filecoin (FIL), which yesterday was the fastest riser in the top 100 and 20% in the plus. Today, however, FIL is down 19% again, dropping to $8. Nevertheless, FIL is still 54% in the plus compared to a week ago.

Heads up *just* in case you missed the announcement last month 📫@brave has added Filecoin to its wallet, enabling native usage for the 56+ million users of the browser. Check out the details

— Filecoin (@Filecoin) August 1, 2022

However, there are a few exceptions. Monero (XMR) is 2.5% in the plus, theta (THETA) and gala (GALA) already 4%. Cronos (CRO) is 6% in the green and kava (KAVA) 9%. Chiliz (CHZ) rose by 10% in the last 24 hours and celsius network (CEL) even by 18%.

📈 Top Gainers in July 2022

— CryptoRank Platform (@CryptoRank_io) August 1, 2022

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