Cryptocurrencies are recording some declines in mid-trading on Monday, August 25. Ethereum retreated from its all-time high reached in November 2021 at the end of last week’s trading amid a wave of profit-taking, while Bitcoin is trading below $111,000 after losing more than $4,000 at the opening of the session.
Cryptocurrencies had risen sharply at the end of last week’s trading, Friday, after US Federal Reserve Chairman Jerome Powell indicated in his remarks at the Jackson Hole Symposium that the fundamental outlook and shifting balance of risks require an adjustment in our monetary policy stance, opening the door to a 25 basis point interest rate cut in September for the first time this year. Some reports indicated that the sharp decline in Bitcoin yesterday, Sunday, or Monday morning, exceeding $4,000 in just a few minutes, was caused by the withdrawal of one of the largest holders of the world’s most valuable currency (a “whale”), who withdrew 24,000 Bitcoins worth more than $2 billion. He also sent more than 12,000 Bitcoins to the Hyperunite exchange in just one day, erasing all of Friday’s gains. The selling led to the liquidation of positions worth $238 million in Bitcoin and $216 million in Ethereum.
The combined market capitalization of the cryptocurrency market, according to Coingecko, which includes more than 17,000 digital currencies, declined by about 3% on Monday, with the market capitalization trading at $3.92 trillion, led by Bitcoin at 56.4% and Ethereum at 14%. Bitcoin is trading at $111,082, down about 3.61% mid-day, with its market capitalization declining to $2.211 trillion. Ethereum, the second-largest cryptocurrency, is down about 3%, trading at $4,596,000, with a market capitalization estimated at $555 billion, after testing $4,868,000 yesterday, Sunday, surpassing its previous all-time high of $4,866,000, set in November 2021.
XRP, or Ripple, maintains its third-largest market capitalization, declining about 2.50% today, trading at $2.94, with a market capitalization estimated at $175 billion.

Dogecoin is down 4.19% today, trading at $0.2191, with a market cap of $3 billion. Cardano is down 3.40%, trading at $0.8658, with a market cap of around $30 billion.

Solana is down 3.41%, trading at $197, with a market cap of $106 billion. TRON is down 3.33%, trading at $0.3525, with a market cap of $33 billion.