Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE) traded in negative territory on Sunday evening as global cryptocurrency market cap fell 0.86% to $ 2.09 trillion.
The top cryptocurrency fell 2.19% to $ 48,456.07 in 24 hours. Over a seven-day period, BTC is down 1.89%. ETH was trading 2.5% lower at $ 3,198.24 in the last 24 hours and is down 1.59% over the course of the week.
Dogecoin (CRYPTO: DOGE) declined 4.2% to $ 0.28 in 24 hours and fell 11.33% in seven days.
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Solana (CRYPTO: SOL), which hit an all-time high of $ 97.84 on Sunday, was trading 0.27% lower at $ 96.32 in 24 hours at press time. The cryptocurrency is up 34.23% this week.
The sandbox (CRYPTO: SAND), the token of a game-oriented, blockchain-based virtual world, rose 48.43% to $ 1.10, making it the biggest winner in the past 24 hours. SAND is up 65.92% this week. SAND gained 48.84% and 49.29% over BTC and ETH, respectively.
Other winners from the last 24 hours includeRevain (CRYPTO: REV), Decentraland (CRYPTO: MANA) and Bitcoin SV (CRYPTO: BSV). REV climbed 33.10% to $ 0.0209, MANA climbed 15.01% to $ 1.05, while BSV climbed 9.5% to $ 190.35 during that period.
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Why it matters
On Sunday, cryptocurrency trader Michaël van de Poppe said on Twitter that he was bullish on Bitcoin above $ 51,000.
Bullish on #Bitcoin
over $ 51K, until then just noise.
– Michaël van de Poppe (@CryptoMichNL) August 29, 2021
Over the weekend, the deputy director of the Financial Consumer Rights Protection Bureau warned People’s Bank of China, Yin Youpingwho have favourited investors from exposure to cryptocurrencies including BTC.
Youping’s comments raised the specter of tightening the ongoing regulatory crackdown on the cryptocurrency space.
In the meantime, the CEO said of Square Inc (NASDAQ: SQ) and Twitter Inc (NASDAQ: TWTR), Jack Dorseythat a new division of Square is planning to build a decentralized exchange with a focus on BTC.
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