Ethereum and Solana set the pace as markets close August on a high
Crypto at a glance
Four short weeks ago, Bitcoin looked beached below $40,000 as it floundered at $37,300. It was a far cry from the oxygen-sapping heights of April when an all-time high saw the flagship cryptocurrency kiss $65,000.
August didn’t begin strongly. Low trading volume and an overstretched market had all the hallmarks of impending doom.
However, now looks like the markets want to shake off the month’s earlier shackles and turn an unfamiliar shade of green as autumn beckons us in.
Leading that final August charge is the combative pairing of Ethereum and Solana. Ether shot up by $133 this morning as it rose towards its current price range around $3,300 – a lift of 35 per cent across the month, and four per cent in 24 hours.
Solana too has enjoyed a stellar month. At $118 it has risen some 250 per cent in August, and an impressive 18 per cent since yesterday.
Although down by one per cent over the last 24 hours, Bitcoin has enjoyed a 14 per cent lift over the last month – a daily performance closely matched by Cardano but outshone by its native ADA at 114 per cent up for August.
September has, historically, witnessed some tantalising market movements. Are we in for more of the same over the next 30 days?
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Summit & awards announcements
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Friday’s Crypto AM Daily in association with Luno
In the markets
The Bitcoin economy
*Definitions and insights can be found at https://bytetree.com/insights/
Total crypto market cap
The total capitalisation of the entire cryptocurrency market at time of writing is currently $2,007,060,321,085.
What Bitcoin did yesterday
We closed yesterday, August 30 2021, at a price of $47,054.98 down from $48,829.83 the day before.
The daily high yesterday was $48,925.61 and the daily low was $47,925.86.
This time last year, the price of bitcoin closed the day at $11,680.82. In 2019, it closed at $9,630.66.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $884.66 billion. To put it into context, the market cap of gold is $11.552 trillion and Facebook is $1.073 trillion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $29,964,518,059, up from $27,365,994,295 the day before. High volumes can indicate that a significant price movement has stronger support and is more likely to be sustained.
Volatility
The price volatility of Bitcoin over the last 30 days is 44.99%.
Fear and Greed Index
Market sentiment today is 73.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 43.7, Its lowest ever recorded dominance was 37.09 on January 8 2018.
Relative Strength Index (RSI)
The daily RSI is currently 53.75. Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience a correction in price – an RSI reading of 30 or below indicates an oversold or undervalued condition.
Convince your Nan: Soundbite of the day
“Bitcoin seems to be a very promising idea. I like the idea of basing security on the assumption that the CPU power of honest participants outweighs that of the attacker.”
Hal Finney, early Bitcoin developer and cypherpunk. August 28 marks the seventh anniversary of Finney’s death.
What they said yesterday
As for Bitcoin…
Cuba ☑️
Do you speak it?
Crypto AM: Editor’s pick
Simon Nixon tells Seek Ventures to ramp up Bitcoin investment
Bitcoin breaks $50,000 as ‘Magic Monday’ gives cryptocurrencies a green start to the week
Gibraltar to host first international post pandemic crypto event
CV Labs Partnership launches British crypto firm Evai onto Bittrex global exchange
Crypto AM: Features
Crypto AM: Spotlight
Crypto AM: Founders Series
Crypto AM: Industry Voices
Crypto AM: Contributors
Crypto AM: In Conversation with James Bowater
Crypto AM: Tomorrow’s Money with Gavin S Brown
Crypto AM: Mixing in the Metaverse with Dr Chris Kacher
Crypto AM: Visions of the Future, Past & Present with Alex Lightman
Crypto AM: Tiptoe through the Crypto with Monty Munford
Crypto AM: Taking a Byte out of Digital Assets with Jonny Fry
Crypto AM: Parliamentary Special
Part one of two – April 2021
Part two of two – April 2021
Five-part series – March 2021
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Day two…
Day three…
Day four…
Day five…
Crypto AM: Events
For those of you who missed the Crypto AM DeFi & Digital Inclusion online summit 2021 – you can now watch the event in two parts via YouTube:
Part one…
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Cautionary Notes
It’s definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. Morning Wire, Crypto AM and Luno always advise you to obtain your own independent financial advice before investing or trading in cryptocurrency.
All information is correct as of 08:00 BST