**Crypto Market Mixed Ahead of US Economic Data**
*Bitcoin and other top crypto tokens were mixed on Thursday ahead of the key economic data from the US later in the day. The crypto market seems to have shrugged off news from the Securities and Exchange Commission (SEC) that it intends to file an appeal of the ruling in its case against Ripple.*
Bitcoin’s Performance
Bitcoin experienced a small recovery but quickly slipped back into negative territory. The largest crypto token shed about half a per cent but managed to hold the 29,500-mark. Meanwhile, Ethereum was trading slightly lower but sustained above $1,850-levels. Price action in the major altcoins was mixed, reflecting the overall uncertainty in the market.
Market Reaction
The price of Bitcoin has steadied near the $29,500 level as the market awaits July’s US inflation data. Altcoin Aptos saw a notable increase of around 12 per cent in the last 24 hours following the announcement of its partnership with Microsoft. Ethereum’s trading price remains within the $1800-$1900 range, according to Edul Patel, Co-Founder & CEO at Mudrex.
Token Movements
Top crypto tokens were trading mixed on Thursday with Shiba Inu surging about 3 per cent, while Dogecoin, Bitcoin Cash, and Cardano added more than a per cent each. On the other hand, BNB, Tron, and XRP were among the biggest losers for the day, with the move being capped less than half a per cent.
Market Cap and Trading Volumes
The global cryptocurrency market cap experienced a slight dip, falling to the $1.18 trillion-mark as it shed less than a per cent in the last 24 hours. Additionally, the total trading volumes dropped more than 5 per cent to $34.75 billion.
Ethereum Chain Performance
The total ETH locked on the Ethereum chain reached a fresh all-time high of 27.03 million, representing a 40 per cent jump since Shapella. The total amount staked equated to 21 per cent of ETH’s circulating supply. With an increase in validators, the staking rewards have progressively reduced, according to the CoinDCX Research Team.
Overall, the crypto market continues to experience volatility as it reacts to key economic data and regulatory news, signaling that more uncertainty lies ahead for digital assets.
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