The crypto market remained flat in the last 7 days. The total market capitalisation (m-cap) slipped marginally from $1.04 trillion on August 19 to $1.03 trillion on Friday. Bitcoin, the largest cryptocurrency by m-cap, was down nearly 2 per cent as compared to August 19 and was trading at $21,446, according to data from coinmarketcap.com.
Ethereum, the second largest cryptocurrency, was down nearly 5 per cent in the same period and was trading at $1,661. Some other coins like XRP and Shibu, however, made gains during the last 7 days.
"Ripple (XRP) and Shiba Inu (SHIB), highlighted a surge in whale transactions to a three month high. Traditional finance companies continued to onboard XRP as a potential ‘opportunity in payments’ and SHIB recorded a resurgence in new holders amidst peak social media mentions," CoinDCX's research team told Business Standard.
Also read: Explained: Ethereum set for mega 'merger' to become more energy efficient
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