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Market Pullback in August: Total crypto market capitalization declined by 1.7%, largely influenced by an unexpectedly high U.S. Producer Price Index that dented risk appetite.
Shift Toward Altcoins: Bitcoin’s dominance shrank to 57.3%, while Ethereum gained ground—surpassing 14.2% dominance and seeing substantial institutional inflows.
Altcoin Performance Highlights:
Chainlink (LINK) soared nearly 36%, buoyed by its selection for on-chain GDP tracking and a strategic partnership in Japan.
Ethereum (ETH) rose 18.6%, driven by strong ETF inflows and increased treasury holdings.
Solana (SOL) climbed 15.5%, fueled by growing optimism around its Alpenglow upgrade.
Cardano (ADA) rebounded 8.6%, despite regulatory delays affecting ETF decisions.
BNB recorded a 7.8% gain, backed by rising treasury interest and ecosystem expansion.
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