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The price swing liquidated nearly $50 million of leveraged derivatives positions across all cryptocurrencies in one hour, CoinGlass data shows.

Render joined Solana as a top performer, helping boost the index by 1%.

Digital assets are expected to stay highly correlated with equities amidst the upcoming macro calendar, the report said.

The network activity has also been falling on Ethereum and stalling on the Bitcoin blockchain, the report said.

The blockchain project is taking advantage of an increasingly popular fundraising method known as "node sales" just months after a traditional $12 million fundraise.

The bitcoin price rose 1% just after the numbers hit, but remains lower by about 5% from one week ago.

The latest price moves in crypto markets in context for Sept. 6, 2024.

Total crypto market cap was $2.02 trillion at the end of August, a 24% decline from this year's peak of $2.67 trillion in March, the report said.