Tron and Shiba Inu decline 6%, Ethereum retains $1,850, and Bitcoin falls below $29,500

While Ethereum also reported increases along similar lines and was able to retain $1,850 levels, Bitcoin only slightly increased but continued to trade below the 29,500 barrier.

On Monday, trade in bitcoin and other popular crypto tokens was uneven. Due to the summer vacation season and the lack of significant crucial economic events, the market for digital tokens moved in a sideways fashion in August. However, the consolidation period can lead to some gains in the token market.

The largest cryptocurrency token, which is also bitcoin, increased marginally but only by roughly 0.5 percent, staying below the 29,500 level. However, Ethereum, its biggest rival, also recorded advances along similar lines and was able to maintain $1,850-levels. The altcoins experienced uneven price movement.

The price of Bitcoin increased somewhat after a busy weekend, rising to the $29,461 level. Over the previous week, Bitcoin has fluctuated between $29,000 and $29,500. The market seems to have taken in the information about Curve Finance falling prey to a scam.

In the past seven days, Ethereum successfully broke through the $1,850 barrier and is currently trading at around $1,871. The FDIC closed Kansas Heartland Tri-State Bank while the American banking crisis continues. The influence of rising U.S. interest rates and insufficient risk management procedures may be blamed for this bank’s demise.

On Monday, trade in the biggest crypto tokens was mixed. On the negative side, Dogecoin and Solana both lost 2% over the day, while Tron and Shiba Inu both lost 4%. Among the gainers, Polygon grew by roughly 2% and Bitcoin Cash increased by nearly 6%.

The market capitalization of all cryptocurrencies was trading marginally higher, rising to the $1.19 trillion milestone after losing less than 1% in the previous day. The total trade volume did, however, increase by more than 45% to $25.85 billion.