Cryptocurrency market saw a sharp decline on Tuesday,

August 2,  with Bitcoin trading below the USD 23,000 threshold. The biggest and most well-known cryptocurrency in the world, Bitcoin, increased by more than 2 percent to USD 22,939. Despite falling more than 2 percent in the previous day to USD 1.11 trillion, the total value of all crypto assets was above the USD 1 trillion threshold today, according to CoinGecko.

The second-largest cryptocurrency, Ether, which is connected to the Ethereum network, dropped more than 6 percent to USD 1,587. Shiba Inu's price likewise dropped by about 5 percent to USD 0.000012, while Dogecoin's price today was over 4 percent lower at USD 0.06.

Other cryptocurrency values have performed poorly today as well, with prices for XRP, Solana, BNB, Litecoin, Stellar, Chainlink, Avalanche, Tether, Polygon, Uniswap, Polkadot, Apecoin, and Tron trading at lower levels compared to the previous day.

According to research by digital asset manager CoinShares, global digital asset funds had net inflows of USD 474 million in July (through July 29), the biggest amount this year despite volatile cryptocurrency markets.
With a total of USD 481 million, funds in cryptocurrency nearly offset all of June's outflows. Inflows into bitcoin last week totaled USD 85 million. North America contributed the majority of the inflows. US and Canadian contributions were USD 15 million and USD 67 million, each. Minor outflows were seen from Sweden and Brazil.

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