Cryptocurrency Price Today: Bitcoin Rises Above $62,000, Akash Network Becomes Top Gainer
Cryptocurrency price on May 10 quick take: The global market cap rose to $2.33 trillion.
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to rise above the $62,000 mark early Friday. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — largely landed in the greens as the overall Market Fear & Greed Index stood at 56 (Neutral) out of 100, as per CoinMarketCap data. The Akash Network (AKT) token emerged as the biggest gainer of the lot, with a 24-hour jump of over 21 percent. Cosmos (ATOM) became the biggest loser, with a 24-hour dip of nearly 2 percent.
The global crypto market cap stood at $2.33 trillion at the time of writing, registering a 24-hour gain of 2.19 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $62,914.11, registering a 24-hour gain of 2.30 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 54.72 lakh.
Ethereum (ETH) Price Today
ETH price stood at $3,031.48, marking a 24-hour jump of 1.28 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.68 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour gain of 2.69 percent, as per CoinMarketCap data, currently priced at $0.1512. As per WazirX, Dogecoin price in India stood at Rs 13.07.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour gain of 1.58 percent. At the time of writing, it was trading at $83.22. LTC price in India stood at Rs 7,190.06.
Ripple (XRP) Price Today
XRP price stood at $0.518, seeing a 24-hour loss of 0.58 percent. As per WazirX, Ripple price stood at Rs 45.79.
Solana (SOL) Price Today
Solana price stood at $154.02, marking a 24-hour gain of 6.79 percent. As per WazirX, SOL price in India stood at Rs 13,200.
Top Crypto Gainers Today (May 10)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Akash Network (AKT)
Price: $5.69
24-hour gain: 21.42 percent
The Graph (GRT)
Price: $0.3054
24-hour gain: 13.45 percent
dogwifhat (WIF)
Price: $3.22
24-hour gain: 11.75 percent
AIOZ Network (AIOZ)
Price: $0.8756
24-hour gain: 10.90 percent
Toncoin (TON)
Price: $6.48
24-hour gain: 9.90 percent
Top Crypto Losers Today (May 10)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Cosmos (ATOM)
Price: $9.10
24-hour gain: 1.91 percent
Bitget Token (BGB)
Price: $1.11
24-hour gain: 0.81 percent
Monero (XMR)
Price: $132.45
24-hour gain: 0.62 percent
Ripple (XRP)
Price: $0.5183
24-hour gain: 0.59 percent
KuCoin Token (KCS)
Price: $10.39
24-hour gain: 0.20 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin is currently trading at $62,000, amid high interest rates in the US and increased regulatory scrutiny against some players in the crypto industry. Despite these challenges, Bitcoin has surged by 127% in the last year. Its support stands at $61,300, with resistance at $63,100. Meanwhile, Ethereum is priced at $3,000, with support at $2,900 and resistance at $3,100, signalling potential recovery if it breaches the resistance level.”
Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “Bitcoin (BTC, +2.2%) price stabilised around $60.6k before rebounding from its corrective phase that lasted 3 days. This might be the start of BTC’s recovery wave but the bears might remain active near the $63.2k resistance zone. In the meme coin universe, DOGE (+2.5%) was the outlier. Additionally, VanEck's MarketVector has launched a new memecoin index, tracking the largest meme coins including DOGE, SHIB, FLOKI, WIF, and BONK. The index is up 195% on a yearly basis.”
Rajagopal Menon, Vice President, WazirX, said, “Bitcoin staged a comeback after testing resistance levels around $61,000 and $62,000. The world's largest cryptocurrency currently sits just above $62,000, with immediate support holding firm. This positive momentum is reflected in the overall crypto market, which is up nearly 2% in the last 24 hours. While major altcoins are mirroring Bitcoin's rise, technical indicators like the RSI suggest a potential dip back to $60,000.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin's recent climb to $61,425 suggests a potential market stabilisation, supported by renewed inflows into bitcoin ETFs such as Grayscale and Bitwise, totalling $11.54 million. Institutional interest and economic factors influence Bitcoin price predictions. Bitwise's ETFs saw significant net inflows, signalling growing investor confidence, while Grayscale's ETFs remained flat. With bitcoin spot ETFs now worth $51.50 billion, the market is showing resilience and growing institutional and retail adoption. This increase reflects the wider adoption of cryptocurrencies in regulated investment vehicles. Technical analysis suggests a bullish outlook for Bitcoin above $61,000, with resistance at $62,865 and support at $59,150. The Relative Strength Index (RSI) at the 40 and 50-day EMAs at $62,420 provide additional insights for investors.”
Shivam Thakral, CEO of BuyUcoin, said, “Bitcoin bounced from $60,000 level again and is now above $63,000. Bitcoin held 60k on a weekly closing basis 7 times. It has tested the bull market support band with confirmation of strength. Once it finishes ranging underneath the previous cycle ATH & moves up again, it will restart the bullish momentum for altcoins. AI and GPU tokens continued to experience the strongest bounce this month.”
CoinDCX Research Team told ABP Live, “The crypto market surged as weekly jobless claims exceeded expectations, signalling bullish sentiment. Positive ETF inflows and news of MassMutual's investment in BTC ETFs, along with favourable comments on crypto from Trump, contributed to the uptrend. BTC is hovering just below $63,000, showing bullish price action. Resistance is seen at $64,400. Meanwhile, ETH rebounded from major support around $2,950 but continues to lag behind BTC. Maintaining this support level is crucial for ETH to avoid further downside.”
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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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