Cryptocurrency Price Today: Bitcoin Manages To Remain Above $23,000 As Overall Market Cap Sees Minor Dip
Cryptocurrency price on August 1 quick take: The global crypto market cap saw a minor dip of less than 1 percent over the past 24 hours.
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to remain above the $23,000 mark as the first week of August kicks off. As the global crypto market lost the $1.10 trillion mark that it gained last week, most of the popular altcoins, such as Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), and Ripple (XRP) registered losses across the board over the past 24 hours. On the other hand, among lesser-known crypto coins, the Filecoin (FIL) token emerged as the biggest gainer over the past 24 hours, while Bitcoin Gold (BTG) turned out to be the biggest loser.
At the time of writing, the global crypto market cap stood at $1.09 trillion as per CoinMarketCap data, registering a 24-hour loss of 0.88 percent.
Bitcoin (BTC) price today
At the time of writing, BTC was priced at $23,408.71. As per CoinMarketCap, Bitcoin saw a 24-hour dip of 1.52 percent. As per Indian exchange WazirX, BTC price stood at Rs 19.27 lakhs.
Ethereum (ETH) price today
With a 24-hour loss of 0.41 percent, ETH price stood at $1,693.16. As per WazirX, Ethereum price in India stood at Rs 1.40 lakhs.
Dogecoin (DOGE) price today
DOGE saw a 24-hour loss of 1.64 percent as per CoinMarketCap data, currently priced at $0.06998. As per WazirX, Dogecoin price in India stood at Rs 5.76.
Litecoin (LTC) price today
Litecoin registered a loss of 1.58 percent over the past 24 hours. At the time of writing, it was priced at $60.11. LTC price in India stood at Rs 4,857.
Ripple (XRP) price today
XRP price stood at $0.3829, seeing a 24-hour loss of 2.01 percent. As per WazirX, Ripple price stood at Rs 31.50.
Solana (SOL) price today
Solana price stood at $43.01, marking a 24-hour loss of 1.73 percent. As per WazirX, SOL price in India stood at Rs 3,510.
Top crypto gainers today (August 1)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Filecoin (FIL)
Price: $11.13
24-hour gain: 32.86 percent
Kadena (KDA)
Price: $2.13
24-hour gain: 17.03 percent
BitTorrent-New (BTT)
Price: $0.000001053
24-hour gain: 10.15 percent
Internet Computer (ICP)
Price: $9.08
24-hour gain: 9.24 percent
Arweave (AR)
Price: $15.99
24-hour gain: 8.21
Top crypto losers today (August 1)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Bitcoin Gold (BTG)
Price: $29.72
24-hour loss: 11.35 percent
Lido DAO (LDO)
Price: $2.14
24-hour loss: 9.49 percent
Ethereum Classic (ETC)
Price: $36.68
24-hour loss: 7.24 percent
Polygon (MATIC)
Price: $0.9277
24-hour loss: 6.62 percent
Yearn.finance (YFI)
Price: $11,339.55
24-hour loss: 5.58 percent
What crypto exchanges are saying about the current market scenario
Edul Patel, the CEO and Co-Founder of Mudrex, told ABP Live, “Bitcoin and Ethereum rose for another consecutive day. BTC broke above the $24,000 level in the past 24 hours in response to the US central bank’s latest interest rate hike. BTC’s support now lies at $21,000, while resistance is at $25,000. The second largest cryptocurrency, Ethereum, has rocketed by nearly 7 percent over the past day. If bulls can hold Ethereum at the current level today, we might see it testing the $1,700 level, which can lead to the $2,000 level in the coming week.”
Commenting on the crypto market scenario, Sathvik Vishwanath, CEO and Co-Founder of Unocoin told ABP Live, “The Friday followed by the weekend saw a bumpy ride when it comes to prices of cryptos. The increase over this period went as high as 10 percent and eventually got the correction of 2 percent by the time Sunday ended. It is rare to see such an increase during the weekend. Among the alternate coins, the ones trying to create their own blockchain were the winners with as much as a 15 percent increase. The ones attempting to become layer-2 solutions also saw similar increase.”
FiEx Founder and CEO Tushar Gandotra told ABP Live, "As anticipation increases for its long-awaited software upgrade, which will enable a transition from the current system of utilising miners to a more energy-efficient one using staked currencies, the price of ether has increased in recent weeks. After being pushed back several years, the transition to this 'proof-of-stake' system is anticipated to happen in September. In the upcoming weeks, a number of events will be held for prospective stakers and other community members. Ethereum developers have lately indicated significant progress in testing the new system."
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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