Cryptocurrency Price Today: Bitcoin Dips Below $26,000 As Top Coins See Bloodbath
Cryptocurrency price on August 23 quick take: The global market cap remained at $1.05 trillion.
Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, dipped below the $26,000 mark early Wednesday. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — saw minor dips across the board. The Sui (SUI) token became the biggest gainer of the lot, with a 24-hour jump of over 10 percent. THORChain (RUNE), on the other hand, became the biggest loser, with a 24-hour loss of nearly 10 percent.
The global crypto market cap stood at $1.05 trillion at the time of writing, registering a 24-hour dip of 0.47 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $25,978.36, registering a 24-hour dip of 0.21 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 22.99 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,630.73 marking a 24-hour loss of 0.01 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 0.06 percent, as per CoinMarketCap data, currently priced at $0.06254. As per WazirX, Dogecoin price in India stood at Rs 5.59.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 2.75 percent. At the time of writing, it was trading at $64.74. LTC price in India stood at Rs 5,844.98.
Ripple (XRP) Price Today
XRP price stood at $0.5199, seeing a 24-hour dip of 0.33 percent. As per WazirX, Ripple price stood at Rs 46.0001.
Solana (SOL) Price Today
Solana price stood at $20.61, marking a 24-hour loss of 2.34 percent. As per WazirX, SOL price in India stood at Rs 1,879.90.
Top Crypto Gainers Today (August 23)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Sui (SUI)
Price: $0.5651
24-hour gain: 10.22 percent
Toncoin (TON)
Price: $1.40
24-hour gain: 3.62 percent
Optimism (OP)
Price: $1.58
24-hour gain: 3.57 percent
Shiba Inu (SHIB)
Price: $0.000008149
24-hour gain: 3.07 percent
dYdX (DYDX)
Price: $1.97
24-hour gain: 2.15 percent
Top Crypto Losers Today (August 23)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
THORChain (RUNE)
Price: $1.57
24-hour loss: 9.33 percent
Maker (MKR)
Price: $1,031.78
24-hour loss: 6.48 percent
Akash Network (AKT)
Price: $1.50
24-hour loss: 6.12 percent
Frax Share (FXS)
Price: $5.72
24-hour loss: 6.11 percent
Rocket Pool (RPL)
Price: $23.67
24-hour loss: 4.80 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin dropped to hovering around the $25,600 level but bounced back to trading above the $26,000 mark. Ethereum, on the other hand, has been trading at around the $1,600 mark. Balancer, a prominent decentralised crypto trading project built on the Ethereum blockchain, incurred a significant loss of nearly $100 million after discovering a crucial vulnerability. Meanwhile, Toncoin and Optimism have both recorded upward shifts in their prices, exhibiting gains of 3.95 percent and 4.10 percent, respectively.”
Shubham Hudda, Senior Manager, CoinSwitch Markets Desk, said, “The crypto market has observed further selling pressure in the last 24 hours. As per CoinGecko data, the global crypto market capitalisation continues to be above its support level of $1 trillion, even though it dipped to around $1.07 trillion before bouncing back and maintaining its level just below $1.09 trillion. The crypto fear and greed index has maintained its position in the fear zone without a shift in its score of 37/100 since yesterday.”
Rajagopal Menon, Vice President, WazirX, offered his take, “Bitcoin maintains its position above $26,000 while Ether stabilizes around $1,600. The market sentiment remains cautious due to recent regulatory developments and macroeconomic factors. Traders observe potential price shifts in the coming weeks as the overall market exhibits stability. On WazirX, Contentos (COS) and Render Tokenl (RNDR) have been the top gainers in the last 24 hours.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Currently priced at $25,992 and with a 24-hour trading volume of $14.4 billion, Bitcoin has seen a slight decrease of 0.50 percent in the last day. As the leading cryptocurrency, it maintains a market capitalization of $505 billion. Recent moves, including a dip below $29,000, have contributed to its technical swings. Currently, around $25,800, Bitcoin is facing resistance at $26,200, which is marked by bearish patterns and a potential drop to $25,200. Conversely, a break of the $26,200 resistance could target $26,800, with bullish momentum eyeing $27,600. Below $25,200, significant losses could lead to a potential low of $24,800.”
Shivam Thakral, the CEO of BuyUCoin, said, “Trading volume on the cryptocurrency market has increased significantly, reaching $34.11 billion. BNB, XRP, Cardano, Solana, Polygon, and Shiba Inu were among the other popular tokens that were selling at a discount. Decentralised finance is becoming more popular, with $2.3 billion in trading volume, or 6.73 percent of the 24-hour volume of the whole crypto market. Bitcoin, the most popular cryptocurrency in this thriving market, is presently trading for $26,014.84. This is a reflection of the increased interest and investment in digital assets as the crypto industry continues to develop and flourish.”
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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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