By: Shayak Majumder | Updated at : 05 Sep 2022 09:40 AM (IST)
Bitcoin and Ethereum are the top two most valued crypto coins. ( Image Source : salesblog_at/Pixabay )
Bitcoin (BTC), the world’s oldest and most-valued cryptocurrency, is facing a major meltdown as its price dipped below the $20,000 mark early Monday morning. Ethereum (ETH), the second most-valued crypto, managed to hold steady ahead of the Merge, expected to trigger this week. Other popular altcoins, including the likes of Dogecoin (DOGE), Solana (SOL), and Ripple (XRP) registered minor gains across the board. Among lesser-known cryptocurrencies, Ravencoin (RVN) emerged to be the biggest gainer in the last 24 hours, while the EOS token turned out to be the biggest loser.
At the time of writing, the global crypto market cap stood at $982.10 billion, marking a 0.69 percent gain in the last 24 hours, as per CoinMarketCap data.
As per CoinMarketCap, Bitcoin saw a 24-hour gain of 0.57 percent, priced at $19,882.15. As per Indian exchange WazirX, BTC price stood at Rs 16.40 lakhs.
ETH price stood at $1,576.23, marking a 24-hour gain of 1.61 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.30 lakhs.
DOGE registered a minor 24-hour gain of 0.85 percent as per CoinMarketCap data, currently priced at $0.06318. As per WazirX, Dogecoin price in India stood at Rs 5.22.
Litecoin saw a 24-hour gain of 0.77 percent. At the time of writing, it was priced at $60.04. LTC price in India stood at Rs 4,860.
XRP price stood at $0.3311, seeing a 24-hour gain of 0.17 percent. As per WazirX, Ripple price stood at Rs 27.87.
Solana price stood at $32.15., marking a 24-hour gain of 2.49 percent. As per WazirX, SOL price in India stood at Rs 2,700.
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
24-hour gain: 12.68 percent
24-hour gain: 4.47 percent
The Sandbox (SAND)
24-hour gain: 4.24 percent
24-hour gain: 3.80 percent
Basic Attention Token (BAT)
24-hour gain: 3.38 percent
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
24-hour loss: 3.25 percent
24-hour loss: 3.08 percent
1inch Network (1INCH)
24-hour loss: 2.63 percent
24-hour loss: 2.36 percent
24-hour loss: 1.57 percent
Mudrex co-founder and CEO Edul Patel told ABP Live, “Major cryptocurrencies traded low over the weekend. Bitcoin struggled to keep above the $20,000 level as sellers have become more active since the past week. If BTC can trade above the overhead resistance level, bulls might attempt to recapture the $20,000 price level. If BTC keeps facing continued rejections, it might dip to the $18,000 support level. On the other hand, Ethereum continued to trade sideways, extending its weekend steadiness into this week. Ethereum might rise above the $2,000 level before proceeding to a heavily congested range at $2,500 before the Merge.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “The weekend saw a lot of fluctuation in the crypto market, specifically with Bitcoin. Ether was noteworthy to see a 5 percent gain over the last two days even though experts have predicted Ether’s price to be on red alert for the upcoming weeks due to the Merge. Whereas coins like Cardano gained approximately 15 percent over the weekend, it can also be considered as the result of the flip. It took over XRP and became the sixth-most traded crypto in a matter of days. Other metaverse-based coins seemed pretty stable, whereas the rest of the market seemed to have a mixed pattern.”
weTrade founder Prashant Kumar offered his take on the market scenario as well, “The week started off with the two key cryptocurrencies — Bitcoin and Ethereum — hovering under their resistance levels of $20,000 and $1,600, respectively. The global crypto market capital also remained below the $1-trillion mark even though there was a marginal rise of approximately 1 percent over the last 24 hours. The much awaited Ethereum Merge is scheduled to be rolled out this week, making it the cryptocurrency to watch out for as changes are expected.”
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.
Cryptocurrency News Live: Bitcoin, Ethereum, Most Altcoins See Bloodbath
e-HKD: Hong Kong To Start Testing CBDC In The Coming Months
Amazon Great Indian Festival Sale Begins For Prime Members, Flipkart Plus Subscribers Get Early Access To Big Billion Days Sale
Cryptocurrency Price Today: Bitcoin, Ethereum, Most Altcoins See Bloodbath Following Latest US Fed Rate Hike
Cryptocurrency News Live: Ripple Becomes Biggest Gainer
Breaking News LIVE: Heavy Rain Alert Sounded For Delhi-NCR Today, Schools In Noida, Gurugram Closed
‘Politics Should Never Prevent Sanctioning Of Dreaded Terrorists’: EAM Jaishankar Takes Dig At China At UNSC
Iran President Ebrahim Raisi ‘Cancels’ Interview As CNN Anchor Refuses To Wear Hijab
Instagram Suffers Outage Globally, Users Complain Of Issues With DMs, Instagram Feed
Explained: Who Are The Popular Front of India? Why NIA Raided Their Offices?