Cryptocurrency Price Today: Bitcoin Dips Below $26,000, PEPE Remains Biggest Loser
Cryptocurrency price on June 12 quick take: The global market cap dipped down to $1.05 trillion.
Bitcoin (BTC), the oldest and the most valued cryptocurrency in the world, dipped below the $26,000 mark over the weekend. Ethereum (ETH) followed suit, losing its $1,800 mark as well. Other popular altcoins — including the likes of Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — saw a mix of red and green across the board. While memecoin PEPE continued to be the biggest loser, with a 24-hour dip of over 6 percent, Flare (FLR) emerged to be the biggest gainer of the lot, with a minor 24-hour jump of nearly 3 percent, signifying the bearish mood of the market.
The global crypto market cap stood at $1.05 trillion at the time of writing, registering a 24-hour loss of 0.32 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $25,808.64, registering a 24-hour gain of 0.36 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 23.48 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,736.76, marking a 24-hour loss of 0.80 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.60 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour dip of 1.63 percent, as per CoinMarketCap data, currently priced at $0.0607. As per WazirX, Dogecoin price in India stood at Rs 5.60.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 1.21 percent. At the time of writing, it was trading at $76.25. LTC price in India stood at Rs 7,050.
Ripple (XRP) Price Today
XRP price stood at $0.5148, seeing a 24-hour jump of 1.57 percent. As per WazirX, Ripple price stood at Rs 47.80.
Solana (SOL) Price Today
Solana price stood at $15.15, marking a 24-hour loss of 2.88 percent. As per WazirX, SOL price in India stood at Rs 1,600.
Top Crypto Gainers Today (June 12)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Flare (FLR)
Price: $0.01634
24-hour gain: 2.70 percent
Aptos (APT)
Price: $6.15
24-hour gain: 2.64 percent
Polygon (MATIC)
Price: $0.6234
24-hour gain: 2.62 percent
Mask Network (MASK)
Price: $3.56
24-hour gain: 2.25 percent
BitTorrent(New) (BTT)
Price: $0.0000005374
24-hour gain: 3.28 percent
Top Crypto Losers Today (June 12)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Pepe (PEPE)
Price: $0.0000008631
24-hour loss: 6.41 percent
GMX (GMX)
Price: $42.16
24-hour loss: 6.18 percent
OKB (OKB)
Price: $39.30
24-hour loss: 5.72 percent
THORChain (RUNE)
Price: $0.888
24-hour loss: 5.45 percent
The Graph (GRT)
Price: $0.09668
24-hour loss: 5.34 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “Even amidst regulatory challenges and liquidity issues in the market, BTC and ETH have shown a strong resilience. BTC, trading around $25,700, continues to hold its $25,000 psychological support. More so, BTC’s dominance is nearing the 50 percent mark for the first time since April 2021. This is happening against the backdrop of selling pressure within altcoins, particularly those mentioned in the SEC lawsuit, including SOL, ADA and MATIC. ETH, down 1.2 percent in the last 24 hours, is currently trading above $1,700.”
Rajagopal Menon, Vice President, WazirX, offered his take, "US regulators target crypto exchanges, labelling major altcoins securities. Yet, crypto shows resilience. Bitcoin starts the week at $25,912 and Ether at $1,748. Liquidity has worsened due to institutional investors exiting amid SEC scrutiny concerns. Despite S&P 500's monthly highs, the crypto market remains troublesome. On WazirX, Ethereum Naming Service (ENS) and pNetwork (PNT) have been the top gainers in the last 24 hours."
Sathvik Vishwanath, CEO and co-founder, Unocoin said, “Prominent financial services company Robinhood caused a significant drop in several top blockchain-based cryptocurrencies overnight when it announced the removal of Cardano (ADA), Polygon (MATIC), and Solana (SOL) from its platform. The move coincides with recent lawsuits filed by the US Securities and Exchange Commission (SEC) against major exchanges Binance and Coinbase, namely ADA, MATIC, and SOL. Market concerns about the SEC's actions further intensified as Binance's native BNB token saw a significant 9.5 percent drop in the past 24 hours. The overall sentiment in the market is one of uncertainty and volatility, with flagship cryptocurrencies such as Bitcoin and Ethereum also affected, with losses of 3.48 percent and 5.55 percent, respectively.”
Shivam Thakral, the CEO of BuyUCoin, said, “The crypto market is yet to respond to the US Fed's decision to pause rate hikes. It is important to note that US Fed has increased interest rates by 500 basis points since it started its war against inflation and prevent the economy from slipping into possible recession. The crypto market may respond positively to the latest development related to rate hikes in the coming weeks but the real relief will come if interest rates are brought down to boost market liquidity. BTC and ETH remained almost flat with marginal fluctuations during the 24 hours.”
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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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