Bitcoin (BTC), the world's oldest and most valuable cryptocurrency, dropped below the $68,000 level early Friday morning. Other popular altcoins, including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL) and Litecoin (LTC), generally saw small declines and gains amid an overall Market Fear & Greed Index of 64 out of 100 (neutral), according to CoinMarketCap data. The ONDO token recorded the largest gain, up more than 14% in 24 hours. ORDI recorded the largest decline, down more than 8% in 24 hours.
At the time of writing, the global cryptocurrency market capitalization was $2.54 trillion, down 1.50% in 24 hours.
Bitcoin (BTC) Price Today
According to CoinMarketCap, the price of Bitcoin was $67,540.18, down 2.68% in 24 hours. According to Indian exchange WazirX, the price of BTC was Rs 59.46 lakh.
Ethereum (ETH) Price Today
The price of ETH is at $3,807.99, up 0.47% in 24 hours at the time of writing. According to WazirX, the price of Ethereum in India is worth Rs 3.28 lakh crore.
Dogecoin (DOGE) price today
DOGE has fallen 4.34% in the last 24 hours and is currently priced at $0.1592, according to data from CoinMarketCap. According to WazirX, the price of Dogecoin in India is Rs 13.90.
Litecoin (LTC) price today
Litecoin has fallen by 0.63% in 24 hours. It was trading at $85.96 at the time of writing. The LTC price in India was Rs 7,383.41.
Ripple (XRP) Price Today
The price of XRP was at $0.5303, up 0.30 percent in 24 hours, while Ripple was at Rs 46.16, according to WazirX.
Solana (SOL) Price Today
Solana was priced at $169.97, down 4.51 percent in 24 hours. According to WazirX, the price of SOL in India was Rs 14,829.20.
Today's top cryptocurrency gainers (May 24)
According to data from CoinMarketCap, the top five cryptocurrencies that have increased in value over the past 24 hours are:
ONDO
price: $1.10
24 hour increase: 14.05 percent
Lido DAO (LDO)
price: $2.35
24 hour increase: 13.05 percent
PENDLE
price: $6.59
24 hour increase: 9.61 percent
Gnosis (GNO)
price: $363.95
24 hour increase: 8.23 percent
Etena (ENA)
price: $0.9114
24 hour increase: 8.09 percent
Today's Biggest Crypto Losers (May 24th)
According to data from CoinMarketCap, the top five cryptocurrencies that fell in the last 24 hours were:
ORDI
price: $38.06
24 hour increase: 8.53 percent
Arweave (AR)
price: $40.71
24 hour increase: 8.33 percent
Ton Coin (TON)
price: $6.20
24 hour increase: 5.52 percent
Theta Network (THETA)
price: $2.33
24 hour increase: 5.47 percent
Kaspar (KAS)
price: $0.1324
24 hour increase: 5.40 percent
What Crypto Exchanges are saying about the current market scenario
Edur Patel, co-founder and CEO at Madrex, told ABP Live: “Bitcoin is trading around $67,000 as profit-taking continues after hitting $71,000 on Wednesday. A key development is the US Securities and Exchange Commission's approval of listing applications from Nasdaq, CBOE and NYSE for ETFs linked to the price of Ether, which could see these products begin trading later this year. Ethereum has surged more than 30% in the past week. If bulls can sustain current price levels, the next resistance points are $3,900 and then $4,100.”
Parth Chaturvedi, Head of Investments at CoinSwitch Ventures, said, “Yesterday, the SEC approved eight Ethereum ETFs, causing increased price volatility in the crypto market. In the hour leading up to the approvals, Ethereum (ETH) fell to $3,500 around the close of the US traditional markets. As unconfirmed reports of the approvals began to surface, ETH rose to nearly $3,900 before settling above $3,800 after official confirmation. However, these ETFs are yet to be approved for trading. Potential spot ETH ETF issuers include BlackRock, Fidelity, Grayscale, VanEck, Franklin Templeton, Ark/21Shares and Invesco/Galaxy.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin (BTC) is facing resistance at $70,000 after rising 13% since last week to peak at $71,957 on the back of strong inflows into Bitcoin Spot ETFs and optimistic prospects for SEC approval of Ethereum Spot ETF. BlackRock's IBIT has captured 94.86% of recent inflows and holds around 282,000 BTC, attracting 414 institutional investors. Hong Kong's Ethereum ETF is also performing well, boosting the cryptocurrency market. Analyst Kaleo predicts that Bitcoin could reach $150,000 to $200,000. BTC is currently trading at $69,563, with key resistance at $72,030 and support at $67,549. A move above $68,950 would suggest a bullish outlook.”
Rajagopal Menon, Vice President at WazirX, said, “The surge in inflows over the past 24 hours has pushed the cryptocurrency market cap to a critical support level of $2.50 trillion. This positive momentum is largely due to the Securities and Exchange Commission's (SEC) approval of the much-anticipated spot Ethereum ETF. Excitement is spreading in the altcoin market as investors wait for the launch of an approved ETF to begin accumulating funds. Optimists predict that XRP and SOL ETFs will be approved as well in the near future. Ethereum itself has seen a 28.97% price surge over the past week. This enthusiasm is further amplified by speculation as to which fund manager will launch the first Ethereum ETF. The approval is seen as a potential turning point, suggesting that the SEC will take a more accommodative regulatory stance towards cryptocurrencies.”
CoinDCX research team told ABP Live: “In the past 24 hours, the market remained very volatile ahead of the approval of the ETH ETF, with ETH and related coins seeing significant fluctuations. With the approval of the ETH Spot ETF by the SEC, ETH price fluctuations have stabilized and some altcoins have started to recover. This development will be beneficial in the long term for tokens associated with ETH staking projects such as LDO, ETH Layer 2 solutions such as OP and ARB, and other ETH related tokens. ETH continues to outperform BTC, which is a positive sign amidst ETH's growing dominance. The main resistance levels for ETH are $3,963 and $4,085. Funding rates between coins remain neutral, which is positive.”
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Disclaimer: Cryptocurrency products and NFTs are unregulated and may be extremely risky. There may be no regulatory remedy for losses from such transactions. Cryptocurrencies are not legal tender and are subject to market risks. Readers are advised to seek professional advice and to carefully read the offer documents and any related material literature before making any type of investment. Cryptocurrency Market forecasts are speculative and any investments are made at the reader's own expense and risk.
