By: Shayak Majumder | Updated at : 08 Sep 2022 09:44 AM (IST)
Bitcoin and Ethereum are the highest valued crypto coins in the world. ( Image Source : Quantitatives/Unsplash )
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, dipped below the $19,000 mark on Wednesday but managed to climb above the same today morning. Ethereum (ETH), which also saw a worrying dip yesterday, managed to climb above the $1,600 mark on Thursday morning, showing strong signs of recovery. Other popular altcoins, including the likes of Dogecoin (DOGE), Ripple (XRP), and Solana (SOL), saw minor gains across the board. Among lesser-known altcoins, the Helium (HNT) token saw a 24-hour jump of over 45 percent.
At the time of writing, the global crypto market cap stood at $975.93 billion, marking a 4.40 percent gain in the last 24 hours, as per CoinMarketCap data.
As per CoinMarketCap, Bitcoin saw a 24-hour gain of 2.61 percent, priced at $19,226.21. As per Indian exchange WazirX, BTC price stood at Rs 16.15 lakhs.
ETH price stood at $1,629.09, marking a 24-hour gain of 7.96 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.35 lakhs.
DOGE registered a 24-hour gain of 4.25 percent as per CoinMarketCap data, currently priced at $0.06094. As per WazirX, Dogecoin price in India stood at Rs 5.08.
Litecoin saw a 24-hour gain of 6.41 percent. At the time of writing, it was priced at $57.08. LTC price in India stood at Rs 4,850.56.
XRP price stood at $0.3323, seeing a 24-hour gain of 4.35 percent. As per WazirX, Ripple price stood at Rs 27.27.
Solana price stood at $32.47, marking a 24-hour gain of 5.40 percent. As per WazirX, SOL price in India stood at Rs 2,638.
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
24-hour gain: 45.67 percent
Terra Classic (LUNC)
24-hour gain: 26.77 percent
24-hour gain: 19.23 percent
Curve DAO Token (CRV)
24-hour gain: 12.14 percent
24-hour gain: 11.45 percent
As per CoinMarketCap data, here are the top three crypto losers over the past 24 hours:
24-hour loss: 0.03 percent
24-hour loss: 0.02 percent
USD Coin (USDC)
24-hour loss: 0.01 percent
Mudrex co-founder and CEO Edul Patel told ABP Live, “Most cryptocurrencies regained their lost ground late Wednesday. Bitcoin is up by nearly 3 percent after falling to its lowest level at $18,558 on Tuesday. If BTC can hold above the current level today, we might see it gaining its resistance level at $19,400 soon. The second largest cryptocurrency, Ethereum, has gained more than 6 percent and has broken its initial resistance level at $1,537 as excitement around the Merge gains momentum. If the volume keeps rising, we might see ETH breaking its next resistance at $1,650 soon.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “In between the commotion, Wednesday turned out to be quite bullish for the crypto market this week. Eighty percent of the top 100 coins and tokens ended up in the green zone. The highest bull seen today was Helium with 40 percent gain in just a matter of 24 hours, whereas it lost close to 10 percent compared to last week. This kind of fluctuation could be a result of Helium’s proposal to migrate to IoT-based blockchain Solana. The rest of the crypto market fluctuated in the range of 4-5 percent, and the average gain in the last 24 hours was close to 2 percent. Given the instability early this week, the gains could only be short-lived.”
weTrade founder Prashant Kumar offered his take on the market scenario as well, “With Ethereum completing the first phase of the Merge — the Bellatrix upgrade, there was some upward movement in the global cryptocurrency market. Bitcoin, which reached $18,000, its lowest since June, on Wednesday picked up and on Thursday is trading at $19,200. Over the last seven days, with the upgrade, Ethereum has seen a spike of approximately 4 percent, while Bitcoin has seen a decline of approximately 5 percent.”
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.
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