US Department of Justice officials are reportedly considering fraud charges against crypto exchange Binance, causing a drop in the price of Bitcoin and other top crypto tokens. Bitcoin fell 2% to $29,030, while Ethereum also declined below the $1,850 level. Other tokens such as BNB, XRP, Dogecoin, Solana, Polygon, and Litecoin were also trading lower. The total volume in DeFi is currently $2.98 billion, and the global cryptocurrency market cap was around $1.16 trillion. Bitcoin’s dominance is currently 48.56%. Traders are closely watching for a potential recovery or a breakdown to the $25,000 support level. The current prices of the top crypto tokens are as follows:
– Bitcoin: $29,030 (-2.00%)
– Ethereum: $1,832 (-1.36%)
– Tether: $0.9989 (-0.04%)
– BNB: $239 (-2.18%)
– XRP: $0.6714 (-3.3%)
(Source: coinmarketcap.com, data as of 12.58 hours, IST on August 3, 2023)
Hot Take: The potential fraud charges against Binance have shaken the crypto market, leading to a drop in prices. Traders are now closely monitoring the support levels for Bitcoin and other tokens to determine whether a bullish recovery is possible or if further declines are on the horizon.
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