Major cryptocurrencies began trading in the green om early hours on August 8.   The market capitalization of all cryptocurrencies was USD 1.10 trillion, up 1.41 percent from the day before. Over the past 24 hours, the overall volume of the cryptocurrency market fell by 8.43 percent to USD 41.20 billion.

The overall volume in Defi is USD 4.82 billion, or 11.70 percent of the 24-hour volume in the entire crypto market. Currently, the 24-hour volume of all stablecoins is USD 36.90 billion, or 89.55 percent of the overall volume of the cryptocurrency market.

Bitcoin costs nearly Rs 18.25 lakh and has a 40.37 percent market share. Using statistics from CoinMarketCap, this represented a rise of 0.08 percent from the previous day.

The second-largest cryptocurrency, Ether, which is connected to the ethereum blockchain, increased more than 2 percent to USD 1,713. Shiba Inu's price also increased by roughly 2 percent to USD 0.000012, while Dogecoin's price was trading over 2 percent higher at USD 0.06.

Insolvency risks loomed big over significant crypto lending companies, sowing fear among market participants that the cryptocurrency economy was unable to recover from Terra's collapse in May.

However, July month was a great period for Bitcoin, Ether and others.  For the month, bitcoin increased by 27 percent, the most since October, while ether increased by 70 percent, marking its biggest monthly performance since January 2021. According to CryptoCompare, the total volumes of the Tether stablecoin for Bitcoin and Ether increased throughout the month.

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