By: Shayak Majumder | Updated at : 06 Sep 2022 10:43 AM (IST)
Ethereum price stood at $1,642.23 on Tuesday morning. ( Image Source : Bastian Riccardi/Pixabay )
Ethereum (ETH), the second-highest valued cryptocurrency, managed to climb above the $1,600 mark after registering minor losses over the weekend. Owing to the much-awaited Ethereum Merge scheduled for later today, ETH price is expected to see some positive movement over the next few days. Bitcoin (BTC), on the other hand, failed to rise above the $20,000 mark. Other popular altcoins, including the likes of Dogecoin (DOGE), Solana (SOL), and Ripple (XRP) saw minor losses and gains across the board. Among lesser-known altcoins, the Ethereum Classic (ETC) token saw a gain of nearly 25 percent in the last 24 hours.
At the time of writing, the global crypto market cap stood at $993.39 billion, marking a 1.03 percent gain in the last 24 hours, as per CoinMarketCap data.
As per CoinMarketCap, Bitcoin saw a 24-hour dip of 0.40 percent, priced at $19,795.73. As per Indian exchange WazirX, BTC price stood at Rs 16.50 lakhs.
ETH price stood at $1,642.23, marking a 24-hour gain of 4.23 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.33 lakhs.
DOGE registered a minor 24-hour gain of 0.50 percent as per CoinMarketCap data, currently priced at $0.06342. As per WazirX, Dogecoin price in India stood at Rs 5.20.
Litecoin saw a 24-hour dip of 0.41 percent. At the time of writing, it was priced at $60.26. LTC price in India stood at Rs 4,905.
XRP price stood at $0.3339, seeing a 24-hour gain of 0.93 percent. As per WazirX, Ripple price stood at Rs 28.
Solana price stood at $32.59, marking a 24-hour gain of 1.35 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:
Ethereum Classic (ETC)
24-hour gain: 24.33 percent
24-hour gain: 19.27 percent
24-hour gain: 17.96 percent
Bitcoin Gold (BTG)
24-hour gain: 13.14 percent
24-hour gain: 12.72 percent
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
24-hour loss: 8.22 percent
24-hour loss: 6.49 percent
24-hour loss: 4.07 percent
24-hour loss: 2.88 percent
UNUS SED LEO (LEO)
24-hour loss: 2.68 percent
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin has been trading sideways between $19,500 and $20,500 for the past few days. BTC struggles to hold its current levels because of high selling orders over the past week. If buyers can make a move above the $20,000 level, we might see BTC bouncing back soon. On the other hand, the Ethereum Merge is now less than two weeks away, and the price of the coin continues to hold at $1,600. As the activities ramp up, the interest might likely create more demand in the coming days.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “Monday presented an extremely stable crypto market. Every coin out of the top 100 coins except EOS had gained or lost no more than 1 percent in the entire day. On the other hand, EOS price increased by 4 percent, which can be wholly dedicated to volatility as there was no significant news around this coin. The Crypto community continues to be cautious about the Ethereum blockchain merge.”
weTrade founder Prashant Kumar offered his take on the market scenario as well, “The much-anticipated Ethereum Merge is set to take place today, putting all eyes on the cryptocurrency. Ahead of the Merge, Ethereum crossed the $1,600 reserve price and has seen a spike of approximately 4 percent in the last 24 hours and approximately 7 percent in the last week. The Merge will increase scalability and make the blockchain more energy efficient, putting Ethereum in a key position. Meanwhile, the global crypto market cap continued to remain under $1 trillion and Bitcoin also stayed below the $20,000 threshold.”
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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