Cryptocurrencies recorded collective gains in mid-trading on Monday, August 4, the opening session of the week, following declines that lasted for more than four consecutive sessions last week, driven by a wave of profit-taking by investors after many cryptocurrencies reached record highs and risk appetite in the markets declined following weak US employment figures and rising geopolitical tensions.
Bitcoin ETFs saw weak outflows estimated at $1 billion at the end of last week’s trading, the weakest in a month, while Ethereum saw inflows of approximately $152 million.
Regarding institutional momentum for Bitcoin, Japanese company MetaPlanet increased its investments in Bitcoin by purchasing 463 coins worth $53.7 million, bringing its total holdings to 17,595 coins with a market value of $2 billion.
The combined market capitalization of the cryptocurrency market, according to Coingecko, which includes more than 17,000 cryptocurrencies, declined by approximately 2.7% on Monday, bringing the market capitalization to $3.8 trillion, down from the previous high of $4 trillion.
Bitcoin is trading at $114,631, up approximately 0.83% at midday trading, with its market capitalization rising to $2.281 trillion. Ethereum, the second-largest cryptocurrency, is up approximately 2.76%, trading at $3,556,000, with a market capitalization estimated at $429 billion.
XRP, or Ripple, maintains its third-place position in terms of market capitalization and tops the list of the top 10 most profitable cryptocurrencies today, with a 5.50% increase, trading at $3.00, with a market capitalization estimated at $178 billion. Dogecoin is up 3.19% today, trading at $0.2024, with a market cap of $30 billion. Cardano is up 2.40%, trading at $0.7404, with a market cap of approximately $26 billion. Solana is up 1.75%, trading at $163, with a market cap of $88 billion. TRON is up 1%, trading at $0.3295, with a market cap of $31 billion