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Cryptocurrency price on August 7: Bitcoin trades near $57,000; Solana, Toncoin jumps up to 7%

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Cryptocurrency price on August 7: Bitcoin trades near ,000; Solana, Toncoin jumps up to 7%
The cryptocurrency market witnessed mixed trading on Tuesday, with several major tokens experiencing notable gains while others declined. Bitcoin, Solana, Toncoin, Cardano, and Avalanche were among the top performers, recording gains of up to 7%. In contrast, Ethereum, XRP, Dogecoin, Shiba Inu, and Polygon faced downward pressure, with losses of up to 2%.

Meanwhile, the global cryptocurrency market capitalization rose by 1.25% in the past 24 hours, reaching approximately $2.01 trillion, reflecting a market-wide recovery after recent volatility.

As of 12:23 p.m. IST, Bitcoin was trading 1.8% higher at $56,829, continuing its upward momentum and approaching the critical $57,000 mark. Ethereum, however, remained subdued, trading below the $2,500 level.

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Market experts pointed to improving sentiment as a key driver behind Bitcoin’s recent strength. “The crypto market continues to show signs of recovery, with Bitcoin marking another green day and breaching the critical $56,500 resistance level,” said Vikram Subburaj, CEO of Giottus. He further noted, “Bitcoin whales have accumulated 30,000 BTC during the market correction earlier this week. Market sentiment is also improving, as reflected in the Crypto Fear and Greed Index, which has risen from an extreme fear level of 17 to a fear level of 29 in the past 24 hours.”Despite this optimism, some analysts cautioned against overly bullish expectations. Avinash Shekhar, Co-Founder & CEO of Pi42, commented, “Bitcoin’s price is gradually rebounding to $57K. However, low trading volume and a bearish market indicate cautious investor sentiment.”The volume of all stablecoins is now $97.52 billion, which is 94.12% of the total crypto market 24-hour volume, as per data available on CoinMarketCap.In the last 24 hours, the market cap of Bitcoin, the world’s largest cryptocurrency, fell to $1.123 trillion. Bitcoin’s dominance is currently 55.87%, according to CoinMarketCap. BTC volume in the last 24 hours declined 40.7% to $46.9 billion.Altcoins also saw varied performances, with Solana emerging as a top gainer, rallying nearly 7% to $151. Toncoin followed with a 3.5% rise to $5.75, and Polkadot added over 3% to its value. Vikram Subburaj commented on Solana’s strength, stating, “Solana continues to showcase relative strength – it is up 7% today and trading above $150. The altcoin market continues to play catch-up to Bitcoin.”

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(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of the Economic Times)

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Bitcoin Mining Promises Under Fire as SEC Alleges $48.5M Investor Funds Were Misused

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Bitcoin Mining Promises Under Fire as SEC Alleges .5M Investor Funds Were Misused
Federal regulators are tightening the vise on crypto investment schemes, spotlighting alleged fraud tied to bitcoin mining that raised nearly $100 million while misleading thousands of investors about operations, capacity and the use of their money.
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The Cryptocurrency That Could Be About to Explode 1,000% | The Motley Fool

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The Cryptocurrency That Could Be About to Explode 1,000% | The Motley Fool

This tiny AI coin could be ready to skyrocket in 2026.

It’s slim pickings in the crypto market right now, with nearly every cryptocurrency down 25% or more over the past 90 days. But if you’re willing to dig for bargains and hold your nose at the same time, it’s possible to come up with some potential blockbuster plays for 2026.

My favorite pick right now is Artificial Superintelligence Alliance (FET 0.25%), down 68% over the past 90 days, and more than 80% for the year. This is exactly the type of beaten-down cryptocurrency that could be ready to explode higher by 1,000% or more over the next 12 months.

Rules for picking 1,000% winners

In order for any cryptocurrency to soar 1,000% or more within a relatively short period of time, it needs to meet a few key criteria. First of all, it needs to be dirt cheap — that’s the only way to attract speculative retail money. So, as a first cutoff, let’s narrow our search to beaten-down cryptos trading for $1 or less.

Second, the cryptocurrency needs to be in a red-hot sector or backed by a red-hot investment thesis. Within the blockchain and crypto world, there are plenty of potential hot ideas to choose from, including real-world asset tokenization, stablecoins, and decentralized finance (DeFi).

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But let’s face facts here: If you try explaining real-world asset tokenization or stablecoins to your friends and family over the winter holidays, you’ll probably be met with a very frosty reception. The investment narrative needs to be easy to grasp and easy to explain. And I can’t think of a better one right now than artificial intelligence (AI).

Image source: Getty Images.

So let’s further narrow our search down to so-called AI coins. This was once a red-hot category, and includes some major names like Bittensor, Render, and Artificial Superintelligence Alliance (FET 0.25%).

The case for buying Artificial Superintelligence Alliance

Of these AI coins, the only one that’s trading for less than a buck right now is Artificial Superintelligence Alliance (the cryptocurrency formerly known as Fetch.ai). It has a super-low discount price of $0.20 — almost as cheap as some meme coins. In order for FET to explode in price by 1,000%, all investors need it to do is hit a price of $2.20.

Fetch Stock Quote

Today’s Change

(-0.25%) $-0.00

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Current Price

$0.21

Thankfully, it has already done that in the past. In March 2024, Artificial Superintelligence Alliance hit an all-time high of $3.47. So, getting back to a price level of $2.20 may not be as insurmountable as it seems at first.

Moreover, the crypto (via the involvement of Fetch.ai in the alliance) is at the forefront of the hot new field of agentic AI, so there’s plenty of long-term growth potential.

Just keep in mind that there’s a big reason the price of Artificial Superintelligence Alliance has cratered by nearly 95% over the past 18 months. Simply put, investors have given up on the “alliance” that was supposed to create the world’s foremost AI coin.

The multistep merger process that was supposed to result in a single token called ASI has gone on much longer than expected. It has also been much messier than many people expected. In October, Ocean Protocol — one of the three big AI players involved — finally pulled out of the alliance, and that sent the price of FET tumbling.

What can investors expect in 2026?

As recently as December 2024, the price of Artificial Superintelligence Alliance was around $2. That’s why I’m optimistic about a potential rebound in price in 2026. Crypto traders have likely overreacted and are now dumping this AI coin indiscriminately.

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That being said, a 1,000% surge in price is by no means guaranteed. It’s quite possible that the price of Artificial Superintelligence Alliance could go to zero. So, buckle up now if you plan to invest in this AI coin — the path ahead is likely to be filled with turbulence and stomach-churning moves up and down.

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China Discovers ‘Largest’ Undersea Gold Deposit in Asia as State Mining Ambitions Expand

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China Discovers ‘Largest’ Undersea Gold Deposit in Asia as State Mining Ambitions Expand
China says it has uncovered Asia’s largest undersea gold deposit, a massive offshore find that strengthens domestic supply, reshapes regional resource rankings, and highlights Beijing’s accelerating push to secure strategic minerals.
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