Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Dogecoin (CRYPTO: DOGE) 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 (CRYPTO: DOGE) was down 4.2% at $0.28 over 24 hours and declined 11.33% over seven days.
Solana (CRYPTO: SOL), 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 (CRYPTO: SAND), 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 (CRYPTO: REV), Decentraland (CRYPTO: MANA), and Bitcoin SV (CRYPTO: BSV).
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.
Youping’s comments raised the specter of an intensification of the ongoing regulatory crackdown on the cryptocurrency space.