Bitcoin is trading below $29,500; Ethereum is trading at $1,850; and Tron and Shiba Inu are down 6%

Bitcoin rose marginally but remained below the 29,500-mark, while Ethereum rose along similar lines and managed to hold $1,850-levels.

On Monday, Bitcoin and other key crypto assets were trading in a mixed bag. Due to the global holiday season and a lack of substantial key economic events, the digital token market drifted sideways in August. However, the consolidation phase may result in some gains in the token space.

Bitcoin rose marginally as the largest crypto token gained roughly 0.5 percent but stayed below the 29,500 barrier. However, Ethereum, its largest peer, too saw advances along similar lines and managed to hold $1,850-levels. The price behaviour in altcoins was erratic.

Following an eventful weekend, the value of Bitcoin increased somewhat, reaching $29,461. For the previous week, Bitcoin has traded in a band of $29,000 to $29,500. The market appeared to have digested the news that Curve Finance had been the victim of an exploit.

In the previous seven days, Ethereum has successfully breached the $1,850 milestone and is currently trading at around $1,871. Meanwhile, the banking crisis in the United States continues, with the FDIC shutting down Kansas Heartland Tri-State Bank. This bank’s demise could be attributable to rising US interest rates and ineffective risk management practises.

On Monday, the main crypto tokens were trading in a mixed bag. On the downside, Tron and Shiba Inu both lost 4% over the day, while Dogecoin and Solana both lost 2%. Among the gainers, Bitcoin Cash rose over 6%, while Polygon climbed nearly 2%.

The worldwide cryptocurrency market cap was trading marginally higher, rising to $1.19 trillion after gaining less than 1% in the previous 24 hours. However, total trade volumes increased by more than 45% to $25.85 billion.