Cryptocurrency Price Today: Bitcoin Rises Above $26,000 As Top Coins See Gains Despite SEC-Coinbase Lawsuit
Cryptocurrency price on June 7 quick take: The global market cap rose to $1.12 trillion.
Bitcoin (BTC), the oldest and the most valued cryptocurrency in the world, managed to rise above the $26,000 mark. Other top coins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — landed in the greens across the board. The recent rally was seen despite the US Securities and Exchange Commission (SEC) filing back-to-back lawsuits against crypto majors Binance and Coinbase. It appears that the market resilience may hold for the next few days. The STX token became the biggest gainer of the lot, with a 24-hour jump of over 14 percent.
The global crypto market cap stood at $1.12 trillion at the time of writing, registering a 24-hour gain of 2.98 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $26,912.90, registering a 24-hour gain of 4.61 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 23.34 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,877.78, marking a 24-hour jump of 3.61 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.64 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour gain of 4.31 percent, as per CoinMarketCap data, currently priced at $0.06952. As per WazirX, Dogecoin price in India stood at Rs 6.15.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour jump of 3.07 percent. At the time of writing, it was trading at $90.10. LTC price in India stood at Rs 8,039.18.
Ripple (XRP) Price Today
XRP price stood at $0.5276, seeing a 24-hour gain of 4.14 percent. As per WazirX, Ripple price stood at Rs 46.82.
Solana (SOL) Price Today
Solana price stood at $20.15, marking a 24-hour jump of 0.78 percent. As per WazirX, SOL price in India stood at Rs 1,750.
Top Crypto Gainers Today (June 7)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Stacks (STX)
Price: $0.6135
24-hour gain: 14.05 percent
Pepe (PEPE)
Price: $0.000001144
24-hour gain: 12.87 percent
Lido DAO (LDO)
Price: $2.35
24-hour gain: 7.21 percent
Kava (KAVA)
Price: $1.17
24-hour gain: 6.39 percent
WOO Network (WOO)
Price: $0.2277
24-hour gain: 5.90 percent
Top Crypto Losers Today (June 7)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Flare (FLR)
Price: $0.02044
24-hour loss: 3.98 percent
Sui (SUI)
Price: $0.7853
24-hour loss: 3.17 percent
Polygon (MATIC)
Price: $0.8069
24-hour loss: 2.95 percent
Cardano (ADA)
Price: $0.3458
24-hour loss: 1.51 percent
The Sandbox (SAND)
Price: $0.5152
24-hour loss: 0.81 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin witnessed a bounce-back on Tuesday, surpassing the $27,000 mark after its drop to $25,400 on Monday. However, it has experienced a slight decline and is currently trading around $26,900, indicating a growth of more than 4 percent within the last 24 hours. The $27,400 level poses a formidable resistance for Bitcoin, while it finds support near $26,400.”
Shubham Hudda, Senior Manager, CoinSwitch Markets Desk, said, “Crypto markets have showcased resilience by trading in the green over the last 24 hours. The global crypto market capitalization is at $1.17 trillion, up ~3.3 percent. The crypto fear and greed index has also regained its position in the neutral zone by climbing 9 points since yesterday. This could be attributed to the strong resilience shown by the industry, despite the SEC serving a lawsuit to Coinbase, similar to Binance from the day before.”
Rajagopal Menon, Vice President, WazirX, offered his take, "Bitcoin’s MACD level indicates a ‘Buy’ sentiment as crypto market rebounds following a temporary price dip as an aftermath of SEC’s lawsuit against Binance and Coinbase. Bitcoin’s halving — an event which is predicted to increase its price, being less than a year away, as well as Ethereum’s name being kept largely out of any implications in the US are some of the reasons behind the positive sentiment."
Sathvik Vishwanath, CEO and co-founder, Unocoin said, “The US SEC dealt a heavy blow to cryptocurrency exchanges when it took action against Coinbase. The regulatory agency charged Coinbase on Tuesday, adding to the growing scrutiny facing the digital asset industry. This underscores the SEC's commitment to enforcing compliance and protecting investors' interests in the evolving cryptocurrency and blockchain landscape. The current price of Bitcoin is $26,954.05 with a 24-hour trading volume of $22.85 billion, while Ethereum is valued at $1,876.17 with a trading volume of $9.03 billion. Both cryptocurrencies have seen positive gains over the past 24 hours as the market experiences swings within the 7-day all-time high and low. These developments underscore the dynamic nature of the cryptocurrency market and the need for regulatory oversight.”
CoinDCX Research Team told ABP Live, “In the past 24 hours, Bitcoin experienced a decline of over 5 percent, breaking the long-held range between $26,600 and $27,400, and reaching around $25,000. This downward movement was attributed to the news that the US Securities and Exchange Commission (SEC) is closely examining major crypto exchanges, aiming to establish stronger compliance measures that would benefit the overall crypto ecosystem in the long term.”
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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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