Cryptos

Bitcoin and Ethereum were crushed by mid-cap Altcoins in August

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Data shows that Ethereum and Bitcoin were crushed by mid-cap altcoins in August, with yields of nearly 60%.

Mid-cap Altcoin index outpaces Bitcoin and Ethereum

According to the most recent report from Arcane researchThe cryptocurrency market has had an excellent month overall, with the indices holding most of their gains up until the monthly close.

Despite the fact that many coins have produced flat numbers in the past week, the big month is still a success. The month has been relatively calm for Bitcoin and altcoins.

Here is a table showing weekly percentage changes in total market capitalization major cryptocurrencies.

Source:| Source: The Arcane Research Weekly News - Week 34

The table shows that not only was Bitcoin down 0.26% and Ethereum up 0.29%, but that most crypto markets experienced similar low percentage changes in the past year. August last week.

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Here’s a chart to show how the market capitalization of various indexes has changed over time:

Bitcoin Ethereum capitalization

Source:| Source: The Arcane Research Weekly Report - Week 34

The chart shows that mid-cap cryptocurrency started strong in August, and outperformed all other indexes by mid-month. These coins came to the market first, with yields reaching around 59% at month’s end.

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Large cap altcoins have risen 33%, while small cap cryptos have risen around 36%. The mid-cap index is nearly twice the second-highest chart value.

The yields of Bitcoin are currently around 17%, as the crypto continues its rally which began in July’s last week.

BTC and ETH prices

Bitcoin’s price is currently at $ 47.5,000 as of this writing, down 2% in the past seven days. The cryptocurrency has seen a 19% increase in value over the past month.

Below is a chart that shows the price trends of the coin over the past three month:

Bitcoin Price Table

BTC's value continues to fall | Source: BTCUSD on TradingView

The downtrend in Bitcoin’s trading volume over the past week is also worrisome. It is unknown when the trend might change but it will be necessary if the coin wants to retest $50,000 trading activity.

Ethereum’s current price is $ 3.5,000 The cryptocurrency has seen a 11% increase in value over the past 7 days, and its monthly gains have been around 35%.

Here’s a chart that shows the price of ETH in the past three months.

Ethereum Price Table

 Source: ETHUSD on| Source: ETHUSD on TradingView

Ethereum, on the contrary, seems to be very bullish since the crypto started on strong bullish trends. It remains to see how long the coin can maintain its momentum.


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