Cryptocurrency Prices Today August 17: Dogecoin surges over 10%, Ripple gains 5%

moneycontrol.com:

Major cryptocurrencies traded in the green early on August 17 as the global crypto market cap declined 0.74 percent to $1.14 trillion over a day earlier. On the other hand, the total crypto market volume over the last 24 hours dropped 17.83 percent to $64.83 billion.

The total volume in DeFi stood at $5.15 billion, 8.01 percent of the total crypto market 24-hour volume. The volume of all stable coins was at $59.59 billion, which is 92.69 percent of the total crypto market 24-hour volume.

The price of Bitcoin hovered around Rs 19 lakh, with a dominance of 40.06 percent. This was a 0.09 percent decrease over the day, according to data from CoinMarketCap.

In other news, the "last flush" of sellers, indicated by a recent rise in short-term Bitcoin (BTC) holdings, shows that capitulation events have concluded and the market is now set for months of accumulation, according to an on-chain report by blockchain analytics firm Glassnode.

According to the recent "The Week On Chain" report, Since the disastrous Terra collapse in May, short-term holders (STHs) have increased their holdings by 330,000 BTC, indicating the direction of a market rebound.

Short-term Bitcoin holders have started a new trend by buying extremely inexpensive coins at or around $20,000 during the large sell-offs that began in May through June, putting them in an "advantageous financial position." Read full story