Cryptocurrency Price Today (August 8): Bitcoin Rises Above $57,000, Ripple Becomes Biggest Gainer
Cryptocurrency price on August 8 quick take: The global market cap dipped to $2 trillion.
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to rise above $57,000 mark for the first time this week on Thursday. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — saw a mix of minor gains and losses across the board as the overall Market Fear & Greed Index stood at 42 (Neutral) out of 100, as per CoinMarketCap data. The Ripple (XRP) token emerged to be the biggest gainer of the lot, with a 24-hour jump of over 17 percent. Lido DAO (LDO) became the biggest loser, with a 24-hour dip of nearly 8 percent.
The global crypto market cap stood at $2 trillion at the time of writing, registering a 24-hour dip of 0.88 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $57,102.95, registering a 24-hour gain of 0.60 percent, as per CoinMarketCap. According to Indian exchanges, BTC price stood at Rs 46.82 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,418.95, marking a 24-hour dip of 3.55 percent at the time of writing. Ethereum price in India stood at Rs 2.09 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour jump of 0.45 percent, as per CoinMarketCap data, currently priced at $0.09943. Dogecoin price in India stood at Rs 8.26.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 1.41 percent. At the time of writing, it was trading at $58.13. LTC price in India stood at Rs 4,849.80.
Ripple (XRP) Price Today
XRP price stood at $0.6036, seeing a 24-hour jump of 17.68 percent. Ripple price in India stood at Rs 42.95.
Solana (SOL) Price Today
Solana price stood at $152.39, marking a 24-hour dip of 0.83 percent. SOL price in India stood at Rs 11,106.55.
Top Crypto Gainers Today (August 8)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Ripple (XRP)
Price: $0.6042
24-hour gain: 17.30 percent
Popcat (SOL) (POPCAT)
Price: $0.6187
24-hour gain: 11.86 percent
Stellar (XLM)
Price: $0.1017
24-hour gain: 8.83 percent
Sui (SUI)
Price: $0.6543
24-hour gain: 6.09 percent
Bitcoin SV (BSV)
Price: $40.55
24-hour gain: 5.09 percent
Top Crypto Losers Today (August 8)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Lido DAO (LDO)
Price: $1.06
24-hour loss: 7.56 percent
Celestia (TIA)
Price: $4.64
24-hour loss: 7.32 percent
AIOZ Network (AIOZ)
Price: $0.4894
24-hour loss: 6.92 percent
Render (RENDER)
Price: $4.60
24-hour loss: 6.88 percent
Hedera (HBAR)
Price: $0.05321
24-hour loss: 6.42 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin has rebounded to the $57,000 level as market participants seized the opportunity to buy the dip. Over the past month, Bitcoin whales have purchased $23 billion worth of BTC, indicating growing accumulation. Bulls are now aiming for further gains above $57,500. If BTC breaks through the $58,000 resistance zone soon, it could gain significant bullish momentum. Meanwhile, Ethereum has yet to gather enough strength for a sharp move and is currently trading around the $2,400 mark.”
CoinSwitch Markets Desk noted, “As broader crypto markets consolidate after the recent draw down, BTC fell as low as 54k USD and ETH is trading at more than 3% discount than the previous day. While bulls are hopeful again after the recent relief rally in BTC from $49k to $57k , macros have not changed much after the Monday crash. The major mover of the day remained XRP as it gained over 20% in the last 24 hours making it amongst the top gainers among all big crypto. This significant increase follows the resolution of the high-profile SEC vs. XRP case, which largely ruled in favor of XRP. However, the settlement includes a $125 million fine and a ban on future violations.”
Avinash Shekhar, Co-founder & CEO, Pi42, said, “The price of Bitcoin is experiencing a recovery, having increased by almost $7,000 since reaching its lowest point in several months. Bitcoin now stands at just over $56,900. The broader crypto market is also on the rise, with XRP leading the charge, jumping 17% after a court ruling ended a four-year legal battle with the SEC.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “During an interview with Bloomberg, Michael Saylor, co-founder of MicroStrategy, dismissed environmental concerns about bitcoin mining as ‘silly’ and pointed out that bitcoin uses minimal energy, accounting for only about 0.52% of global electricity consumption. Saylor argued that bitcoin mining relies heavily on sustainable energy sources, countering criticism that it is a major contributor to global warming. He also revealed that he personally owns 17,732 BTC worth nearly $1 billion, while his company owns over 226,000 BTC. Saylor supports the idea that the US will create a strategic bitcoin reserve, seeing bitcoin as a key national asset. Bitcoin is now trading around $56,800 with drop of -0.3%.”
Shivam Thakral, CEO of BuyUcoin, said, “The global cryptocurrency market has risen by 0.43%, reaching $2.02 trillion in the last 24 hours. Bitcoin’s dominance has strengthened, increasing to 56.10%. Other major cryptocurrencies like Ethereum (ETH), Solana (SOL), and Cardano (ADA) also recorded gains, suggesting a broad-based recovery across the market. Morgan Stanley’s plans to offer Bitcoin ETF to its wealthy clients, shows a growing interest in cryptocurrencies. This development is expected to attract more investment and could lead to stability and growth in the market.”
CoinDCX Research Team told ABP Live, “The crypto market remained neutral to slightly bearish, with ETH underperforming BTC and dropping 4-5% in the last 24 hours. The market is expected to remain sideways for a couple of days as there are no significant macro events this week, and it typically enters a consolidation phase after substantial moves. Notably, XRP is up by 20% following the news that Ripple has been fined $125 million in the lawsuit against the United States Securities and Exchange Commission. This amount is just a fraction of what the SEC had previously sought, which is positive news for Ripple.”
Subscribe And Follow ABP Live On Telegram: t.me/officialabplive
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.
Trending News
Top Headlines
