Crypto Market Roundup Aug 22: YZY Token Dips, Binance Scam Alert

What Happened In Crypto Today: Upbit List AERO Amid Bearish Indicators

The total crypto market capitalization is currently at 3.91trillion, down by 0.9% over the past 24 hours. The total trading volume was over $129 billion, with Bitcoin dominance being 57.5% and Ethereum at 13.2%. The cryptocurrencies tracked till now are 18261.

Latest Crypto Events Today

Source: Forex Factory

24 Hour Crypto Market Update

Bitcoin is priced at $112,821, down by 1.4% over the past day, with a market cap of $2.24 trillion and a massive $32.08 billion in trading volume. Bitcoin is currently dominating at 57.5%.

Top Trending coins:  Notcoin (NOT) leads trending coins at $0.001846, up 1.8%, with a $21.14M trading volume. SKALE (SKL) rose 10.6% to $0.03406 with $162.28M TV, while Aerodrome Finance (AERO) gained 2.3% to $1.42, trading at 224M.

Top Gainers:  Huobi (HT) soared 221.5% to $1.01 with $1.1M trading volume, topping today’s gainers. Slash Vision Labs (SVL) gained 34.2% to $0.03563 with $4.38M TV, while Lunarbits (LUNARBITS) jumped 45.9% to $0.1783 with $408K TV. 

Top Losers: Kanye West memecoin token YZY (YZY) saw the steepest drop, losing 44.7% to $0.8266 on a huge volume of $653M. Ket (KET) slipped 38.7% to $0.03828 at TV $5M, while Light (LIGHT) declined 24.1%, trading at $0.1654 with $892K volume.

The stablecoin market cap is 280 billion, slightly changed by 0.1%. With a 24-hour trading volume of $97.16 billion, it provides liquidity and security in times of volatility.

The current Defi market cap is at 162 billion, down by 2.2% over the past 24 hours. Daily trading volume is at about $7.67 billion, with DeFi contributing 4.1% of the total market activity.

Fear And Greed Index Today

Source: Alternative Me

The Crypto Fear & Greed Index remains at 50 (Neutral), neither in fear nor in greed. The index was neutral yesterday. However, Greeding at 60 last week and 74 last month. This fall indicates that investors are getting cautious as uncertainty rises.

Latest Crypto Market News

Pennsylvania Democrat Ben Waxman has introduced HB 1812, a bill banning public officials and their families from engaging in crypto transactions exceeding $1,000 during their term and for a year afterward. Officials have up to 90 days to sell holdings or face fines of up to $50,000 or five years in prison. The conflict-of-interest issues and enforcement difficulties are highlighted in the proposal triggered by the 110% increase in cryptocurrency in 2024.

Upbit, the largest crypto exchange in South Korea, will list Aerodrome Finance (AERO) with KRW, BTC, and USDT pairs. AERO, a DEX on Ethereum Layer 2 Base, gained 8.89% following the news, and was trading at $1.32. The listing increases the liquidity in the expanding regulated market in South Korea, but the bearish MACD indicators show traders should remain cautious.

State Street has become a third-party custodian on J.P. Morgan Kinexys tokenization platform, beginning with a $100M tokenized commercial paper issued by OCBC. The service allows on-chain wallet management, T+0 settlement, and automation processes-reducing the delays in the traditional system. This development marks the increasing transition of TradFi to blockchain despite the regulatory issues.

Scammers are sending fake SMS messages in the name of Binance that their accounts are at risk to lure them into calling fake support numbers or clicking on malicious links. These messages may even show “Binance” as the sender. Binance stresses it never contacts users via SMS or phone. Experts warn scammers exploit fear, urging users to enable app-based 2FA.

Disclaimer: Coingabbar provides informational content on cryptocurrencies, NFTs, and other decentralised assets. This is not financial advice. Users, please DYOR, understand the risks, and consult financial professionals before investing. CoinGabbar is not responsible for any financial losses. Cryptocurrency and NFTs are highly volatile—invest wisely.