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August 1 – The crypto market has turned red over the past 24 hours, showing signs of strong selling pressure across all major coins. Investors woke up to sharp price drops on some of the most traded assets, with not a single coin among the top ten managing to stay in the green.
Top hot coins in crypto in the last 24 hours
Binance Coin (BNB)
BNB is currently priced at $765.44 after falling by 4.95 per cent. This decline comes as a surprise to many traders, especially after the strong upward movement it showed earlier this week. BNB had recently gained traction as investor confidence grew around Binance’s ecosystem, but today’s sharp fall suggests that profit-taking or broader market pressure may be pulling it down. It will be interesting to see if BNB can bounce back quickly or if it continues on this downward path.
Bitcoin (BTC)
Bitcoin, the most dominant and closely watched cryptocurrency, also saw a decline of 3.29 per cent, bringing its price down to $114,650.01. While not as steep as some of the others, this drop is significant given Bitcoin’s size and influence on the rest of the market. A small percentage shift in Bitcoin often reflects a larger sentiment among institutional investors. The drop could be due to macroeconomic concerns or simply traders reacting to resistance levels being hit after recent gains.
Ethereum (ETH)
Ethereum followed closely with a 6.45 per cent fall, now trading at $3,608.14. ETH has been showing strength in recent weeks, especially with growing activity around staking and smart contracts. However, the sudden drop suggests that short-term holders might be cashing out, possibly out of fear that the market is entering a correction phase. If Ethereum doesn’t hold key support levels, the downward momentum might accelerate further.
Other notable coins
Other major altcoins like XRP and Solana have also taken a hit. XRP is now priced at $2.95 after falling by 7.22 percent, while Solana dropped by 7.38 percent to trade at $168.13. The losses are not limited to the top three coins. Meme coins like PEPE and DOGE are facing even heavier declines. PEPE is down by 9.73 percent, priced now at $0.00001048, and DOGE is trading at $0.20527 after losing 8.25 percent in a single day. These meme-based tokens tend to follow market sentiment closely and often see sharper moves when momentum shifts, as is clearly happening now.
SUI has recorded the largest drop among all the top hot coins, falling by 10.94 percent in the last 24 hours. It is now priced at $3.48 and seems to be struggling under heavy bearish pressure. ADA also joined the decline, trading at $0.7207 after an 8.19 percent fall. Even LINK, which had shown signs of stability in past weeks, slipped to $16.42, registering a 9.33 percent loss. The overall trend points toward a potential market correction or even early signs of a deeper bearish cycle, depending on how the market reacts in the coming days.
This sudden shift comes after weeks of mixed performance, where traders were uncertain about the next big move. The current drop may be influenced by global economic concerns, profit-booking at higher levels, or technical patterns triggering sell orders. For now, traders are likely to remain cautious, waiting for stronger signals before entering new positions. The next 24 to 48 hours could be critical in deciding whether this is just a temporary dip or the beginning of a longer downtrend.