Cryptocurrency Price Today: Bitcoin, Ethereum Remain Stable; IMX Becomes Top Gainer
Cryptocurrency price on March 1 quick take: The global crypto market cap stood at $1.07 trillion on Wednesday morning.
Bitcoin (BTC) and Ethereum (ETH), two of the most popular crypto coins in the world, remained stable within the $23,000 and $1,600 ranges, respectively, early Wednesday morning. Other popular altcoins — including the likes of Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — saw a mix of minor gains and losses across the board. The ImmutableX (IMX) token became the biggest gainer of the lot, with a 24-hour jump of over 7 percent.
The global crypto market cap stood at $1.07 trillion at the time of writing, registering a 24-hour dip of 0.18 percent.
Bitcoin (BTC) price today
Bitcoin price stood at $23,438.03, registering a 24-hour dip of 0.20 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 20.21 lakhs.
Ethereum (ETH) price today
ETH price stood at $1,635.48, marking a 24-hour gain of 0.14 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.40 lakhs.
Dogecoin (DOGE) price today
DOGE registered a 24-hour dip of 0.14 percent, as per CoinMarketCap data, currently priced at $0.0819. As per WazirX, Dogecoin price in India stood at Rs 7.17.
Litecoin (LTC) price today
Litecoin saw a 24-hour gain of 1.87 percent. At the time of writing, it was trading at $96.08. LTC price in India stood at Rs 8,201.37.
Ripple (XRP) price today
XRP price stood at $0.3765, seeing a 24-hour gain of 0.24 percent. As per WazirX, Ripple price stood at Rs 32.60.
Solana (SOL) price today
Solana price stood at $22.31, marking a 24-hour dip of 1.24 percent. As per WazirX, SOL price in India stood at Rs 2,010.
Top crypto gainers today (March 1)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
ImmutableX (IMX)
Price: $1.10
24-hour gain: 7.19 percent
Frax Share (FXS)
Price: $11.64
24-hour gain: 6.186 percent
Maker (MKR)
Price: $826.78
24-hour gain: 4.68 percent
Stacks (STX)
Price: $0.9602
24-hour gain: 4.51 percent
Uniswap (UNI)
Price: $6.71
24-hour gain: 3.69 percent
Top crypto losers today (March 1)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
NEM (XEM)
Price: $0.05394
24-hour loss: 7.49 percent
Conflux (CFX)
Price: $0.211
24-hour loss: 5.67 percent
The Graph (GRT)
Price: $0.1566
24-hour loss: 4.99 percent
Rocket Pool (RPL)
Price: $46.40
24-hour loss: 4.72 percent
Bone ShibaSwap (BONE)
Price: $1.72
24-hour loss: 4.36 percent
What crypto exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “On Tuesday, most cryptocurrencies remained in red, following the release of the US Consumer Confidence data for February, which showed a decline. Bitcoin is trading at $23,200 after buyers failed to push the price above $24,000 last week due to concerns about inflation and monetary policies. The next support level for Bitcoin is at $23,000, and significant movements are not yet imminent. Investors and traders may need some time to digest the economic data.”
WazirX Vice President Rajagopal Menon said, “Bitcoin and Ethereum prices continue to decline amidst concerns around short selling and insufficient liquidity. Experts keep a close eye on whether BTC can touch the $25,000 mark. The US Securities and Exchange Commission (SEC) continues its crackdown on crypto projects with concerns of unregistered security post the FTX collapse. Trading app Robinhood has received a subpoena regarding registering of assets, amidst this environment.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “The BTC/USD pair remains in consolidation below the $23,750 resistance level with immediate support at $22,800. A drop below could lead to support at $22,150. Meanwhile, the ETH/USD pair is facing resistance at $1,665, but if the barrier is breached, it could potentially reach $1,725, a minor loss of 0.62%. The current price of Bitcoin is $23,200.”
Kunji founder Anurag Dixit offered his take, “Abu Dhabi is taking a welcoming approach to the crypto industry by launching a free zone that offers zero taxes and 100 percent foreign ownership to digital and virtual asset firms, while France is set to pass stringent licensing laws around AML and KYC for cryptocurrency companies to prevent money laundering and terrorist financing. The move from France has received a backlash due to its overarching nature that disrupts the basic ethos of blockchain technology. While the need for AML is justifiable, KYC can be thought about on various fronts. These different approaches highlight the regulatory divergence across the world when it comes to cryptocurrencies and blockchain technology."
Shivam Thakral, the CEO of BuyUCoin, said, “The crypto market entered the month of March on a positive note with BTC holding strong above the $23,000 level while ETH trading above the $1,600 level with a jump of 1.12 percent. The fear of another rate hike by the US Fed and regulatory concerns may hold back investors in the coming weeks. Visa and MasterCard have postponed their crypto plans due to market conditions and regulations.”
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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