Crypto Market Today, July 5 2024
2024-07-05
BIttime – Data based on crypto asset market prices on Bittime.com on July 5, 2024, 12.00 WIB
Today's Bitcoin price fell 7.27 percent over the last 24 hours and traded at 54,563 US dollars.
Today's crypto ecosystem is surging down. Most of the day the crypto market moves into the red zone. ETH was observed to have fallen by 10.54 percent over the last 24 hours, and the price was at the level of 2,880 US dollars.
The next crypto, SOL fell 6.76 percent during the day so that the price was at the level of 126.42 US dollars. Meanwhile BNB, down 11.05 percent, traded at 534.50 US dollars.
Overall, today's Crypto Fear and Greed Index based on the Alternative.me page shows the number 29, the lowest figure in the last year. This is a sign that the market is in a fear phase regarding the current economic conditions and the crypto industry.
Sumber: Cryptorank
In the middle of the market decline, the following kCuan coins that experienced the best performance and price increases on Bittime:
- 10000TROLL up 3.22%
- ZK rose 0.72%
- USDT up 0.46%
- USDC rises 0.4%
- PAXG rose 0.2%
The following is a detailed explanation of each cuan coin today.
1. 10000TROLL (10000TROLL)
- Increase percentage: 3.22%
- Sector: Memes
- Market Capitalization: IDR 2.32 B
- Market: 10000TROLL/IDR
TROLL (10000TROLL) is a crypto token known as meme coin, which has a total supply of approximately 960.42 trillion tokens.
The token has a market capitalization of around $18.68 million and is traded on several exchanges such as Uniswap v3 (Ethereum), BitMart, and others.
This token is part of the meme coin category, meaning its value is largely influenced by popularity and community on the internet, similar to Dogecoin and Shiba Inu.
Despite having no significant utility or specific application outside of being a speculative asset, TROLL nevertheless attracts the attention of investors interested in viral trends and phenomena in the crypto world.
For more information about TROLL, you can visit crypto price tracking websites such as CoinCodex and LiveCoinWatch.
Check the price chart 10000TROLL/IDR today and the crypto market as a whole in real-time at Bittime.
2. Polyhedra Network (ZK)
- Increase percentage: 0.72%
- Sector: Interoperability, Polychain Capital Portfolio, Binance Labs Portfolio
- Market Capitalization: IDR 1.15 T
- Market: ZK/IDR
Polyhedra Network (ZK) is a blockchain project focused on improving interoperability, scalability, and security through the use of Zero-Knowledge Proof (ZKP) technology.
The technology enables trustless transfer of data, messages, and assets between various blockchain networks without compromising user privacy.
The Polyhedra ecosystem consists of various Web3 projects, including blockchain games such as Star Legend and Arena of Faith, as well as AI-powered projects such as Aspecta.
At the heart of this ecosystem is zkBridge, which enables secure and efficient cross-chain communication.
ZK token, the native token of the Polyhedra network, is used for staking, transaction fees, and network governance.
This token was launched in March 2024 with a total supply of 1 billion tokens and a circulating supply of 60 million tokens. This token is designed to provide economic security and incentives to the Polyhedra community.
One of Polyhedra's strengths is its focus on privacy and security through ZKP, which allows identity and credential verification without disclosing personal information.
However, the complexity of ZKP technology and limited adoption are challenges for this project.
Check the price chart ZK/IDR today and the crypto market as a whole in real-time at Bittime.
3. Tether USDT (USDT)
- Percentage increase: 0.46%
- Sector: Stablecoin, Asset-Backed Stablecoin, Avalanche Ecosystem
- Market Capitalization: IDR 1,834 T
- Market: USDT/IDR
Tether (USDT) is one of the most popular and widely used stablecoins in the cryptocurrency market.
Stablecoins are a type of cryptocurrency designed to maintain a stable value by tying their value to a less volatile asset, such as fiat currency. In the case of USDT, its value is pegged 1:1 to the United States dollar (USD).
Tether Limited, the company behind USDT, claims that each USDT token is fully backed by reserves that include cash, cash equivalents, and other assets.
This reserve serves as a guarantee that each USDT can be exchanged for one US dollar at any time.
Tether periodically publishes reports to show the composition of its reserves, although the transparency and validity of these reserves are often debated within the crypto community.
USDT is widely used in various transactions in the cryptocurrency market due to its stability.
This allows traders to move funds quickly between exchanges or to avoid market volatility without having to convert their crypto into fiat money.
For example, when the price of Bitcoin or other crypto assets drops drastically, traders can quickly convert their assets into USDT to protect the value of their investment.
Overall, USDT plays an important role as a bridge between fiat currencies and cryptocurrencies, offering value stability that is important for trading and transactions in the crypto world.
Check the price chart USDT/IDR today and the crypto market as a whole in real-time at Bittime.
4. USD Coin (USDC)
- Percentage increase: 0.4%
- Sector: Medium of Exchange, Stablecoin, Asset-Backed Stablecoin
- Market Capitalization: IDR 5.39 T
- Market: USDC/IDR
USD Coin (USDC) is a stablecoin designed to maintain a stable value by being pegged to the value of the US dollar (USD).
Each USDC is backed by an asset equivalent to $1 USD in cash or a cash equivalent such as a short-term US Treasury bond, held at a regulated financial institution in the US.
This ensures that the value of USDC remains stable and equal to $1 USD at all times.
USDC was first announced in May 2018 and launched in September 2018 by Centre, a consortium formed by Circle and Coinbase.
Circle is responsible for ensuring that every USDC token in circulation is fully backed by US dollar reserves held at regulated banks.
The main advantage of USDC is its price stability, which makes it a safe choice for crypto traders during periods of market volatility.
Additionally, USDC enables more efficient and faster transactions worldwide, often more effectively than traditional channels such as bank transfers or wire transfers.
USDC is also used in various decentralized applications (dApps) to earn rewards through lending or staking (Kraken).
Check the price chart USDC/IDR today and the crypto market as a whole in real-time at Bittime.
5. Pax Gold (PAXG)
- Percentage increase: 0.2%
- Sector: BNB Chain, Tokenized Gold
- Market Capitalization: IDR 7.06 B
- Market: PAXG/IDR
Pax Gold (PAXG) is a cryptocurrency backed by physical gold, where each PAXG token represents one troy ounce of gold stored in a professional vault in London.
Managed by Paxos Trust Company, PAXG is designed to provide convenience and flexibility in gold investment, with high security and transparency.
Each PAXG token is directly linked to physical gold, which can be verified with a unique serial number. Users can view their gold details via the PAXG lookup tool using their Ethereum wallet address.
Paxos Trust Company is overseen by the New York State Department of Financial Services (NYDFS), guaranteeing that the gold backing PAXG is safe and separate from the company's assets.
PAXG is also regularly audited by third-party audit firms to ensure that its gold reserves match the number of tokens in circulation.
With the combination of the benefits of physical gold and the convenience of digital assets, PAX Gold is an attractive investment solution for those looking to protect their wealth from inflation and market volatility, while still enjoying high liquidity and flexibility.
Check the price chart PAXG/IDR today and the crypto market as a whole in real-time at Bittime.
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