Cryptocurrency Price Today: Bitcoin, Ethereum, Top Coins Trade Sideways, XDC Becomes Biggest Gainer
Cryptocurrency price on July 27 quick take: The global market cap rose to $1.19 trillion.
Bitcoin, the world’s oldest and most valued crypto, failed to clear the $30,000 hurdle early Thursday morning. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — were seen trading sideways across the board. The market fear and greed index stood at neutral, with a score of 52 (out of 100). The XDC Network (XDC) token, which was the biggest loser yesterday, emerged to be the biggest gainer, with a 24-hour jump of nearly 16 percent. Toncoin (TON), on the other hand, turned out to be the biggest loser, with a 24-hour dip of nearly 5 percent.
The global crypto market cap stood at $1.19 trillion at the time of writing, registering a 24-hour gain of 0.79 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $29,412.85, registering a 24-hour jump of 0.59 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 25.49 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,876.40 marking a 24-hour gain of 0.97 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.63 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour loss of 2.54 percent, as per CoinMarketCap data, currently priced at $0.07817. As per WazirX, Dogecoin price in India stood at Rs 6.60.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour gain of 1.62 percent. At the time of writing, it was trading at $91.19. LTC price in India stood at Rs 7,900.19.
Ripple (XRP) Price Today
XRP price stood at $0.7186, seeing a 24-hour jump of 1.03 percent. As per WazirX, Ripple price stood at Rs 62.05.
Solana (SOL) Price Today
Solana price stood at $24.90, marking a 24-hour gain of 5.73 percent. As per WazirX, SOL price in India stood at Rs 2,150.01.
Top Crypto Gainers Today (July 27)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
XDC Network (XDC)
Price: $0.06287
24-hour gain: 15.90 percent
Synthetix (SNX)
Price: $2.93
24-hour gain: 12.41 percent
Stellar (XLM)
Price: $0.1581
24-hour gain: 9.90 percent
Maker (MKR)
Price: $1,238.79
24-hour gain: 9.73 percent
Chainlink (LINK)
Price: $7.95
24-hour gain: 7.06 percent
Top Crypto Losers Today (July 27)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Toncoin (TON)
Price: $1.37
24-hour loss: 4.53 percent
Dogecoin (DOGE)
Price: $0.07829
24-hour loss: 2.20 percent
Trust Wallet Token (TWT)
Price: $0.9111
24-hour loss: 2.09 percent
Theta Network (THETA)
Price: $0.8252
24-hour loss: 0.65 percent
Cronos (CRO)
Price: $0.05925
24-hour loss: 0.49 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Most cryptocurrencies saw a modest increase after the US Federal Reserve implemented a 25 basis points interest rate hike, as anticipated by the market. This rate hike is the highest since 2001. Following a Tuesday low of $29,097, Bitcoin has climbed above the $29,400 level. The key challenge for the bulls is to sustain the price above $31,000 to counter aggressive bearish activity. On a separate note, Ethereum was changing hands at approximately $1,870.”
Shubham Hudda, Senior Manager, CoinSwitch Markets Desk, said, “The crypto market has experienced slight buying pressure in the last 24 hours. The global crypto market capitalization is at $1.23 trillion, up 1.2 percent from yesterday. The crypto fear and greed index, however, continues to remain in the neutral zone with a score of 51/100. BTC (+0.4 percent) experienced an unexpectedly flat day as the federal reserve of the United States increased its interest rates by another 0.25 percent. This could probably be the last rate hike for this year. Unfortunately, BTC could not cross the $29,700 mark highlighting the weak grip of the bulls.”
Rajagopal Menon, Vice President, WazirX, offered his take, “Bitcoin and Ether are on edge as the Federal Reserve discusses rate hikes. The crypto market is cautious due to the Fed's monetary policy uncertainty. Investors analyse the potential impact of rate increases on cryptocurrencies, posing challenges to Bitcoin's recent rally. Clarity from the Fed's future actions will shape Bitcoin's price trajectory. On WazirX, Tellor (TRB) and OriginToken (OGN) have been the top gainers in the last 24 hours.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “As expected, the US Federal Reserve raised interest rates by 25 bps to 5.25-5.5 percent. Fed chief Jerome Powell has hinted that they could rise further based on economic data. Analysts believe this could be the last hike of the cycle and the Fed could now pause. However, inflation above 2 percent and a strong labour market discourage them from easing financial conditions. Surprisingly, US money markets now expect a 78 percent chance of a 25 basis point rate cut in September. Cryptocurrency prices are volatile but are generally higher after Fed announcements. Bitcoin is trading around $29,300, up 1 percent on the day, with a positive medium-term outlook. Ether was also up 1 percent and Solana was up almost 10 percent.”
Shivam Thakral, the CEO of BuyUCoin, said, “We are yet to see the impact of the Fed rate hike on the crypto market as BTC seems undeterred in the last 24 hours. However, the long-term impact of the latest rate hike on the crypto market may not be on the positive side. The US Fed interest rates have touched 22 years high which is not good for the market liquidity. As the battle against inflation continues, we can expect central banks around the globe to tighten monetary policies in the coming months. Markets may remain volatile due to macroeconomic factors and geopolitical uncertainty. At the time of writing, BTC and ETH were trading in green at $29,433.64 and $1,878.48, respectively.”
CoinDCX Research Team told ABP Live, “Bitcoin has remained relatively stagnant, stuck below the $30,000 level, primarily due to apprehension surrounding the Federal Reserve's upcoming decision on rate hike, which is widely expected to include a 25 basis point (bps). Bitcoin (BTC) investment products suffered a $13 million outflow last week as investors instead favoured funds focusing on smaller cryptocurrencies such as Ethereum and Ripple.”
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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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