Cryptocurrency Price Today: Bitcoin Remains Below $27,000, Akash Network Becomes Top Gainer
Cryptocurrency price on August 22 quick take: The global market cap dipped to $1.05 trillion.
Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, remained below the $27,000 mark early Tuesday. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — saw a mix of minor jumps and dips across the board. The Akash Network (AKT) token became the biggest gainer of the lot, with a 24-hour jump of over 17 percent. Curve DAO Token (CRV), on the other hand, became the biggest loser, with a 24-hour loss of nearly 5 percent.
The global crypto market cap stood at $1.05 trillion at the time of writing, registering a 24-hour dip of 0.71 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $26,032.01, registering a 24-hour dip of 0.19 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 23.29 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,663.28 marking a 24-hour loss of 0.76 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.48 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour dip of 1.95 percent, as per CoinMarketCap data, currently priced at $0.06255. As per WazirX, Dogecoin price in India stood at Rs 5.57.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour jump of 0.23 percent. At the time of writing, it was trading at $66.58. LTC price in India stood at Rs 5,969.31.
Ripple (XRP) Price Today
XRP price stood at $0.5209, seeing a 24-hour dip of 2.12 percent. As per WazirX, Ripple price stood at Rs 46.10.
Solana (SOL) Price Today
Solana price stood at $21.07, marking a 24-hour loss of 1.87 percent. As per WazirX, SOL price in India stood at Rs 1,860.01.
Top Crypto Gainers Today (August 22)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Akash Network (AKT)
Price: $1.60
24-hour gain: 17.18 percent
Optimism (OP)
Price: $1.52
24-hour gain: 2.72 percent
Ethereum Classic (ETC)
Price: $15.77
24-hour gain: 1.06 percent
Monero (XMR)
Price: $149.23
24-hour gain: 0.93 percent
Frax Share (FXS)
Price: $6.12
24-hour gain: 0.83 percent
Top Crypto Losers Today (August 22)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Curve Dao Token (CRV)
Price: $0.4753
24-hour loss: 4.85 percent
Shiba Inu (SHIB)
Price: $0.000007923
24-hour loss: 4.75 percent
XDC Network (XDC)
Price: $0.05537
24-hour loss: 4.20 percent
Avalanche (AVAX)
Price: $10.33
24-hour loss: 4.19 percent
Filecoin (FIL)
Price: $3.41
24-hour loss: 4.06 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin's trading value has consolidated around the $26,000 range. This could potentially be attributed to diminishing confidence in the US Bitcoin Spot ETF and the US 10-year treasury yield seeing a rise of 9 basis points, reaching 4.35 percent, the highest level since 2007. Meanwhile, Ethereum has been consistently trading above $1,600. AVAX, the native cryptocurrency of the Avalanche blockchain, is slated for an unlocking event scheduled on Saturday, August 26. This event will introduce a total of 9.54 million AVAX tokens into circulation.”
Shubham Hudda, Senior Manager, CoinSwitch Markets Desk, said, “After we saw the decline in BTC in the last few days, Bitcoin’s price is just managing to keep up above the $26,000 mark, and the market seems to have found psychological support just over the 1 trillion dollar market capitalization. Furthermore, the crypto and fear index continues to remain in the fear zone with a score of 37/100. While the larger marker sentiment currently looks bearish, one may identify the market’s pulse by looking at how LTC has been doing after the recent halving. It had risen close to 2.7 percent yesterday, highlighting that maybe all is not lost for the crypto market bulls.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “After last week's sharp 10.5 percent drop that marked Bitcoin's worst performance in 2023, the cryptocurrency's price stabilised on Monday. Currently hovering around $26,000, traders are eyeing upcoming US data and comments from Federal policymakers, including Fed Chairman Jerome Powell's speech on Friday, which could potentially push US government bond yields to new multi-decade highs. This could negatively affect both the crypto and US stock markets. BTC price is under pressure due to technical selling after breaking below the 2023 uptrend and 200-day moving average (DMA). With no new updates on bullish Bitcoin stories like ETF applications, the cryptocurrency remains vulnerable to further short-term downside. Considering the six phases of the rally this year, if this pattern continues, the price of Bitcoin may only fall another 2-4 percent from the July highs before a new rally begins, potentially hitting a low around $25,000.”
Shivam Thakral, the CEO of BuyUCoin, said, “As evidenced by the remarkable surge in trading volume over the last 24 hours, the cryptocurrency market is in a state of dynamic flux. Coinbase is acquiring a minority position in Circle Internet Financial, and the firms are terminating its Centre Consortium relationship, which produced USD Coin (USDC), the world's second-largest stablecoin. Bitcoin, the digital gold standard, is holding its ground in the middle of this crypto market frenzy, with a current price of $26,040.60. They stand as proof of the durability and revolutionary potential of blockchain technology as the crypto ecosystem changes.”
CoinDCX Research Team told ABP Live, “BTC and other major cryptocurrencies traded flat following the largest liquidation events in the recent months. Bitcoin remained steady at around $26,000 and Ethereum at $1,670 levels. As per a Bloomberg report, there are indications that the US Securities and Exchange Commission (SEC) is set to grant approval for Ethereum futures exchange-traded funds (ETFs) in the next few months. This development could potentially lead to a new rally for Ethereum which has shown subdued price movement so far this year.”
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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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