Cryptocurrency Prices Today August 16: Tether rises as Bitcoin, Ether fall

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Major cryptocurrencies traded in the red early on August 16 as the global crypto market cap declined 2.90 percent to $1.15 trillion over from a day earlier. On the other hand, the total crypto market volume over the last 24 hours jumped 21.48 percent to $77.99 billion.

The total volume in DeFi stood at $6.03 billion, 7.74 percent of the total crypto market 24-hour volume. The volume of all stable coins was at $71.28 billion, which is 91.40 percent of the total crypto market 24-hour volume.

The price of Bitcoin hovered around Rs 18.78 lakh, with a dominance of 40.15 percent. This was a 0.10 percent increase over the day, according to data from CoinMarketCap.

Meanwhile, Dog-themed cryptocurrencies jumped on Monday amid broader retail-investor enthusiasm in the market, particularly as Ethereum works toward its much-anticipated software upgrade.

Dogecoin is up about 14% over the past five days, while Shiba Inu has gained almost 40%, according to pricing data compiled by Bloomberg. The meme tokens are holding their gains even as Bitcoin sits around $25,000 and Ether hovers at about $2,000 amid optimism around its upgrade, known as Merge, now expected around Sept. 15.

As of 8.20 am on August 16, these are the prices of largest cryptocurrencies (data from WazirX):

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