Wrapped Bitcoin Decreases More Than 4% Within 24 hours
Portfolio Pulse from Benzinga Insights
Wrapped Bitcoin (WBTC) has seen a 4.21% price decrease in the last 24 hours, despite a 1.0% increase over the past week. Trading volume has dropped by 8.0%, while circulating supply increased slightly. WBTC ranks #15 in market cap at $9.07 billion.
August 28, 2024 | 3:03 pm
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NEGATIVE IMPACT
Wrapped Bitcoin (WBTC) experienced a 4.21% price drop in the last 24 hours, contrasting with a 1.0% weekly increase. Trading volume decreased by 8.0%, while circulating supply rose by 0.19%.
The 4.21% price drop in WBTC over the last 24 hours suggests a negative short-term impact on its price. The decrease in trading volume by 8.0% indicates reduced market activity, which could contribute to further price volatility. The slight increase in circulating supply is unlikely to offset the negative sentiment from the price drop.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100