Bitcoin has had a rough week, dropping below $58,000 to trade at $57,978 on Friday. But data from CoinGecko shows that BTC isn’t the only digital asset that has performed poorly in August. Both Solana and Ethereum have also shed their values this month. In fact, they’ve had higher percentage losses than Bitcoin.
Although BTC has posted a recovery rally in the past 24 hours, it is still down 7.5% this week and approximately 9.5% since August 1st. Ethereum, on the other hand, has dropped 8.4% in the past seven days to $2,545 at press time. The current price means it has recorded 30-day losses of 21% after beginning August at roughly $3,156.
Meanwhile, Solana traded at $133.50 on Friday afternoon but has since risen to $138. Nonetheless, it closes the week with a 10.5% loss. Furthermore, it is down 22% this month after starting August trading at $169.55.
Dogecoin Rallies After Court Dismisses Charges Brought Against Elon Musk
While most of the top ten crypto assets were bleeding on Friday, Dogecoin, on the other hand, recorded some gains following news that an American court had thrown out a lawsuit brought against X owner Elon Musk. The lawsuit, which demanded Musk pay over $250 billion in compensation to Disgruntled Dogecoin investors, was dismissed after the plaintiffs failed to present evidence of Musk’s involvement in manipulating the market.
According to data from CoinMarketCap, DOGE trades at $0.1012, up 1.3% in the past 24 hours. However, it is down 9.8% this week and 15.7% in August.
Toncoin’s Downtrend Continues After Telegram CEO’s Arrest
Like Solana and Ethereum, Toncoin has posted a 30-day loss of over 20%. Before last Saturday, the token performed considerably well, thanks to the buzz around the TON gaming ecosystem. However, after reports emerged that the French government had arrested Telegram’s CEO, Toncoin began a downtrend, falling to $5.36 as of this writing.
The price drops in the last 24 hours have caused liquidations worth $186 million. CoinGlass reports that traders in long positions lost $161 million, while those in short positions counted losses of $25 million.
