Ethereum and Dogecoin surpass Bitcoin in terms of daily growth dynamics

Digital asset market experts note that on Tuesday, August 5, Bitcoin BTC $109,476.00 Mezo Wrapped BTC -0.27% Market capitalization $40.12 million VOL. 24 hours $0.8 billion remained almost unchanged, while Ethereum ETH $4,465.53 Bridged Ether (StarkGate) 1.26% Market capitalization $0.11 billion VOL. 24 hours $1.23 billion and Dogecoin DOGE $0.22 Binance-Peg Dogecoin 0.26% Market capitalization $0.56 billion VOL. 24 hours $95.5 million showed growth amid active purchases of cryptocurrencies by companies for their own reserves. Throughout the day, the value of the flagship cryptocurrency was in a narrow range, fluctuating between $ 114,700 and $ 115,500, reaching a maximum of $ 115,729.

Ethereum gained 4.21% to reach $ 3,694, while Dogecoin added 3.66% to trade at $ 0.2092. The strong demand for Ethereum is due to the active increase in positions by large companies, including SharpLink Gaming Inc. Over the past day, more than $ 211 million was liquidated from the cryptocurrency market, with $ 141 million coming from downside bets.

The open interest in Bitcoin decreased by 0.88% over the day, while Ethereum increased by 2.62%. The Binance futures market is dominated by optimistic expectations about the future dynamics of Bitcoin, but the overall greed index for the crypto market has weakened slightly.

The following cryptocurrencies recorded the largest growth in 24 hours: Memecore with an increase of 28.52% and a price of $ 0.5738, Mantle — plus 15.64%, Litecoin — plus 9.08%. The total capitalization of the cryptocurrency market increased by 1.01% to $ 3.77 trillion.

According to analysts, the market is in a phase that promotes further growth for both Bitcoin and altcoins, provided that it overcomes an important resistance level in the upper $ 115,000 range. Some experts do not rule out the formation of peak values as early as August, with a potential correction in September.