The cryptocurrency market digest (BTC, MATIC). Overview for 23.08.2023

The BTC exchange rate looks weak on Wednesday, hovering around 26,015 USD.

The cryptocurrency sector has suffered noticeably after the crash triggered by the Bitcoin Magazine publication. The BTC decline also pulled down key altcoins. Currently, the sector is still impacted by the bearish seasonal factor, and its transition to a bullish trend in early September could be delayed.

An important support for the BTC is the 25,150 USD mark, with the next one at 23,350 USD. There are still no buyers on the platform.

The cryptocurrency market capitalisation remains around 1.05 trillion USD. The share of BTC has dropped to 48.4%, while the share of ETH decreased to 18.8%.

NFTs from the Bored Ape Yacht Club collection sold at a loss

A trader who bought NTF tokens from the Bored Ape Yacht Club collection 11 months ago sold them with a loss of 80%. The NFTs were bought for 777 ETH, representing the most expensive NFT token in this collection. The sale transaction took place on the X2Y2 platform, and the amount totalled 153 ETH.

MATIC in the risk zone

The value of the Polygon project’s MATIC token has fallen to its lowest level since July 2022. Due to the pressure from US regulators and the increasing interest in the L2 networks like Base and Optimism, the demand for Polygon’s services declined. This simultaneously affected the MATIC price dynamics.