Cryptocurrency Price Today (August 22): Bitcoin Rises Above $60,000, Fantom Becomes Top Gainer
Cryptocurrency price on August 22 quick take: The global market cap rose to $2.14 trillion.
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to rise above the $60,000 mark early Thursday. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — landed in the greens across the board as the overall Market Fear & Greed Index stood at 50 (Neutral) out of 100, as per CoinMarketCap data. The Fantom (FTM) emerged to be the biggest gainer of the lot, with a 24-hour jump of nearly 17 percent. Helium (HNT) became the biggest loser, with a 24-hour dip of nearly 8 percent.
The global crypto market cap stood at $2.14 trillion at the time of writing, registering a 24-hour gain of 1.76 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $60,689.70, registering a 24-hour jump of 2.28 percent, as per CoinMarketCap. According to Indian exchanges, BTC price stood at Rs 49.14 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,619.90, marking a 24-hour gain of 1.02 percent at the time of writing. Ethereum price in India stood at Rs 2.21 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour gain of 1.23 percent, as per CoinMarketCap data, currently priced at $0.1051. Dogecoin price in India stood at Rs 8.42.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 0.88 percent. At the time of writing, it was trading at $63.52. LTC price in India stood at Rs 5,576.51.
Ripple (XRP) Price Today
XRP price stood at $0.5999, seeing a 24-hour jump of 0.70 percent. Ripple price in India stood at Rs 47.21.
Solana (SOL) Price Today
Solana price stood at $142.07, marking a 24-hour loss of 0.66 percent. SOL price in India stood at Rs 12,195.12.
Top Crypto Gainers Today (August 22)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Fantom (FTM)
Price: $0.4628
24-hour gain: 16.86 percent
BitTorrent (New) (BTT)
Price: $0.0000009625
24-hour gain: 14.11 percent
Polygon (MATIC)
Price: $0.5312
24-hour gain: 13.74 percent
Beam (BEAM)
Price: $0.01528
24-hour gain: 13.28 percent
Artificial Superintelligence Alliance (FET)
Price: $0.969
24-hour gain: 10.44 percent
Top Crypto Losers Today (August 22)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Helium (HNT)
Price: $6.81
24-hour loss: 7.87 percent
Tron (TRX)
Price: $0.1484
24-hour loss: 7.13 percent
Zcash (ZEC)
Price: $41.23
24-hour loss: 2.62 percent
Sui (SUI)
Price: $0.8512
24-hour loss: 2.18 percent
Kaspa (KAS)
Price: $0.1582
24-hour loss: 1.77 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin surged to $61,000 following remarks from Federal Reserve Chair Powell, indicating a potential rate cut in September. However, since then, BTC has stabilized around $60,000, with support at $59,600 and resistance at $61,300. Meanwhile, BlackRock remains a key player in the spot ETF market, with its iShares Ethereum Trust (ETHA) crossing $1 billion in net inflows.”
CoinSwitch Markets Desk noted, “As BTC bulls are showing strength above 60k USD, bears have started to show interest at the 21-week exponential moving average at 61.2k USD to take BTC back to early 60k USD levels. If this doesn’t happen, there is a good chance we will see a Bitcoin all-time high soon. The rally was further supported by a downward revision in U.S. employment growth data, indicating that the job market from March 2023 to March 2024 was not as robust as initially reported. This has fueled market participants' hopes for more substantial interest rate cuts from the Federal Reserve, which should be expected sooner.”
Avinash Shekhar, Co-founder & CEO, Pi42, said, “The strong U.S. jobs market through 2023 and early 2024 was a bit less strong than thought, providing a very brief, very modest bump to the sluggish price action in bitcoin. It is now trading at $60,700. Despite this, several altcoins such as FTM, MATIC, and FET, have shown resilience with significant gains of more than 10% in the last 24 hours. This contrast highlights that while the overall market is facing adversity, specific tokens with strong fundamentals or positive news may still provide attractive opportunities for gains.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Following revised US economic data that revealed the 2023 labour market was not as robust as previously believed, investors are exploring altcoin markets for potential high-performing cryptocurrencies. Bitcoin (BTC) saw a 2.29% increase, trading around $60,600 on Thursday, according to TradingView. Meanwhile, Ethereum (ETH), Solana (SOL), and BNB (BNB) experienced minimal changes in the past 24 hours, as reported by CoinMarketCap. Recent data showed the US economy added 818,000 fewer jobs over the year ending in March 2024 than initially estimated, contributing to the current market dynamics.”
Shivam Thakral, CEO of BuyUcoin, said, “Bitcoin and the other cryptocurrencies surged after the release of FOMC meeting minutes, which suggested a cut in interest rates in September. The interest rate cut will boost liquidity in the market as borrowing will become easy with lower interest rates. US presidential candidate Kamala Harris’s aide also pointed to her positive outlook towards digital assets which expands the global political influence of the crypto industry. The cryptocurrency industry is also gaining traction because, in the 2024 election cycle, these companies have contributed almost half of all corporate political contributions.”
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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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