Cryptocurrencies traded below the flatline amidst weak economic data from Europe and China that exacerbated the risk-off sentiment and renewed the strength of the U.S. Dollar.<\/p>\n
The Caixin PMI reading for China’s services sector showed growth at an 8-month low. PMI readings from Europe also disappointed.<\/p>\n
The Dollar Index or DXY, a measure of the U.S. dollar’s relative strength against a basket of 6 currencies is currently at 104.62, rising 0.37 percent from the previous close of 104.24. <\/p>\n
Overall crypto market capitalization is currently steady at $1.04 trillion.<\/p>\n
Bitcoin is currently changing hands at $25,773.40, registering an overnight loss of 0.45 percent. The leading cryptocurrency has lost almost 1 percent over the past week. Year-to-date gains however exceed 55 percent.<\/p>\n
Ethereum edged up 0.01 percent overnight to trade at $1,633.46. Losses are 0.6 percent over the past week. The leading alternate coin has gained more than 36 percent in 2023.<\/p>\n
Bitcoin dominates 48.22 percent of the overall crypto market followed by Ethereum which accounts for 18.88 percent. <\/p>\n
Among the top 10 non-stablecoin cryptocurrencies, Toncoin (TON) topped losses with a decline of 6.9 percent. <\/p>\n
Dogecoin (DOGE) topped gains with an uptick of 1.2 percent.<\/p>\n
49th ranked Stacks (STX) surged 6.8 percent. 62nd ranked THORChain (RUNE) and 97th ranked SafePal (SFP) have both added more than 4 percent. <\/p>\n
34th ranked Mantle (MNT) declined 4.3 percent followed by 69th ranked IOTA (MIOTA) that dropped 3.3 percent. <\/p>\n
Meanwhile, the CoinShares’ Digital Asset Fund Flows Weekly report on institutional investments showed outflows of $11 million for the week ended September 1. Bitcoin products recorded inflows of $3.8 million whereas Short Bitcoin products recorded outflows of $3.3 million. Ethereum recorded outflows of $3.2 million. <\/p>\n
The country-wise analysis shows outflows of $26.9 million in Germany and inflows of $14.8 million in Switzerland. Cumulative AUM stood at $31.5 billion. <\/p>\n
For More Cryptocurrency News, visit rttnews.com <\/p>\n