New Delhi: After a decent rise in July, the crypto market struggled to extend gains this month.
Signs of economic slowdown on the back of muted manufacturing data in several countries and fresh escalation in the geopolitical worries between the US and China dented the sentiments. Trading volumes also remained light.
All the top crypto tokens were trading lower on Tuesday. Polkadot plunged 12 per cent, whereas Polygon tanked 8 per cent. Ethereum, Avalanche and Solana dropped 7 per cent each, while Shiba Inu lost 6 per cent.
The global cryptocurrency market cap was trading lower at the $1.06 trillion mark, dropping more than 3 per cent in the last 24 hours. However, the total trading volume jumped about 3 per cent, close to $73.71 billion.