BTC Trades Sideways, Other Top 20 Coins See More Notable Losses

Thursday, August 2: Bitcoin and Ethereum are trading around yesterday's levels, while other top 20 coins are seeing notable losses, according to data from Coinmarketcap.

Bitcoin is up around 0.3 percent over the past 24 hours and trading at $7,579 at press time after testing a slight rebound today.

The top cryptocurrency keeps trading sideways, with an intraday low of $7,451, according to the Cointelegraph Bitcoin Price Index.

As Cointelegraph reported in a previous market analysis, if Bitcoin breaks $7,750 resistance, the move can extend to further to $8,400.

Bitcoin is steadily displacing altcoins from the market, reaching over 48 percent of total market cap dominance.

VeChain has suffered the most losses over the past 24 hours among the top 20 coins following the recent launch of its own mainnet and mobile wallet.

While Bitcoin Cash is seeing losses around 2.5 percent today, the number of BCH transactions has surpassed the amount of Bitcoin transactions for the first time.

Earlier today, payments service Square reported over $70 million in Bitcoin revenues in the first half of 2018.

Bitcoin trading launched on its app in November 2017.

On July 31, Japanese financial conglomerate SBI Holdings announced it will acquire a 12 percent stake in U.S.-based electronic trading platform operator Clear Markets in a move to introduce a crypto derivative trading platform.