Bitcoin, Ethereum, Dogecoin Remain Muted But These Cryptos Are Striking Massive Gains Heading Into New Week

Bitcoin BTC/USD, Ethereum ETH/USD, and Dogecoin DOGE/USD traded in negative territory on Sunday night as the global cryptocurrency market cap fell 0.86% to $2.09 trillion.

What Happened: The apex cryptocurrency fell 2.19% over 24 hours to $48,456.07. BTC has allen 1.89% over a seven-day trailing period.

See Also: How To Buy Bitcoin (BTC)

ETH traded 2.5% lower at $3,198.24 over 24 hours and is down 1.59% over the week.

Dogecoin DOGE/USD was down 4.2% at $0.28 over 24 hours and declined 11.33% over seven days.

Solana SOL/USD, which reached an all-time high of $97.84 on Sunday, traded 0.27% lower at $96.32 over 24 hours at press time. The cryptocurrency has shot up 34.23% for the week.

The Sandbox SAND/USD, the token of a gaming-oriented blockchain-based virtual world, rose 48.43% to $1.10 to emerge as the largest 24-hour gainer. SAND has spiked 65.92% for the week.

SAND gained 48.84% and 49.29% against BTC and ETH respectively. 

Other gainers over 24 hours included Revain REV/USD, Decentraland MANA/USD, and Bitcoin SV BSV/USD.

REV spiked 33.10% to $0.0209, MANA rose 15.01% to $1.05, while BSV gained 9.5% to $190.35 in the period.

Why It Matters: On Sunday, cryptocurrency trader Michaël van de Poppe said he was bullish on Bitcoin above $51,000 on Twitter.

Bullish on #Bitcoin above $51K, until then just noise.

— Michaël van de Poppe (@CryptoMichNL) August 29, 2021

Over the weekend, the Deputy Director of the Financial Consumer Rights Protection Bureau of the People’s Bank of China, Yin Youping, warned investors about exposure to cryptocurrencies including BTC.

See Also: EXCLUSIVE: Dogecoin Creator Talks Foundation Revival, 'Trademark Trolling,' Value Added By Vitalik Buterin And Elon Musk Aide

Youping’s comments raised the specter of an intensification of the ongoing regulatory crackdown on the cryptocurrency space.

Meanwhile, Square Inc SQ and Twitter Inc TWTR CEO Jack Dorsey said that a new division of Square plans to build a BTC-focused decentralized exchange.

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