Cryptocurrency Price Today: Bitcoin, Ethereum, Other Top Coins Fail To Pick Up Steam
Cryptocurrency price on May 2 quick take: The global market cap dipped to $1.16 trillion.
Bitcoin (BTC), the oldest and most valued crypto coin, dipped below the $28,000 mark early Wednesday before managing to reclaim the $28,000 mark again at the time of writing. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), and Litecoin (LTC) — landed in the reds across the board. The Maker (MKR) token managed to become the top gainer among the lot, with a 24-hour jump of 3 percent. Internet Computer (ICP) became the top loser, with a 24-hour loss of nearly 9 percent.
The global crypto market cap stood at $1.16 trillion at the time of writing, registering a 24-hour dip of 1.80 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $28,024.81, registering a 24-hour dip of 1.90 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 24.89 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,829.50, marking a 24-hour loss of 0.91 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.61 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour dip of 0.06 percent, as per CoinMarketCap data, currently priced at $0.07858. As per WazirX, Dogecoin price in India stood at Rs 7.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 0.29 percent. At the time of writing, it was trading at $87.14. LTC price in India stood at Rs 7,550.03.
Ripple (XRP) Price Today
XRP price stood at $0.4631, seeing a 24-hour dip of 0.26 percent. As per WazirX, Ripple price stood at Rs 40.80.
Solana (SOL) Price Today
Solana price stood at $21.79, marking a 24-hour loss of 1.47 percent. As per WazirX, SOL price in India stood at Rs 1,969.90.
Top Crypto Gainers Today (May 2)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Maker (MKR)
Price: $706
24-hour gain: 3.17 percent
Frax Share (FXS)
Price: $7.74
24-hour gain: 2.02 percent
Rocket Pool (RPL)
Price: $46.23
24-hour gain: 1.99 percent
Chiliz (CHZ)
Price: $0.1259
24-hour gain: 1.58 percent
USDD (USDD)
Price: $0.998
24-hour gain: 0.88 percent
Top Crypto Losers Today (May 2)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Internet Computer (ICP)
Price: $5.71
24-hour loss: 8.92 percent
Render Token (RNDR)
Price: $2.14
24-hour loss: 8.87 percent
MultiversX (EGLD)
Price: $40.20
24-hour loss: 7.60 percent
XDC Network (XDC)
Price: $0.03742
24-hour loss: 6.72 percent
Huobi Token (HT)
Price: $3.32
24-hour loss: 5.14 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin started the week trading in the red experiencing a slight decline, as investors geared up for a significant week of US economic data events. BTC is presently trading at $28,000, having peaked at $29,900 during the weekend. Meanwhile, Ethereum's trading remained unchanged at the $1,800 mark. Investors are closely monitoring the US Federal Reserve's scheduled interest rate hikes on Wednesday, as well as the non-farm payroll data for April on Friday.”
WazirX Vice President Rajagopal Menon said, “Bitcoin (BTC) started the US trading week trading below $28,000 amid news of regulators' imminent seizure of First Republic Bank. However, JPMorgan winning the auction to buy First Republic assets reinforced the banking sector's preparedness to address crises. On WazirX, iExecRLC (RLC) and UMA (UMA) have been the top gainers in the last 24 hours.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “Bitcoin's market cap is $541 billion, ranking it #1 on CoinMarketCap. Candlestick patterns indicate bearish sentiment, while RSI and MACD indicators predict a potential downtrend in Bitcoin price today. Bitcoin may encounter immediate support at the $27,600 level, marked by the trend line on the 4-hour chart. If the price breaks below this level, the next support level is at $27,200.”
Shivam Thakral, the CEO of BuyUCoin, said, “The crypto market cap dipped by 1.8 percent after the Labour Day long weekend. BTC slipped below the $28,000 mark briefly while ETH is trading just above the $1,800 mark. There are a lot of factors that will move the market this week such as JPMorgan bailing out the First Republic Bank, the US jobs report, and the US Fed rate hike. Overall sentiment for the crypto market looks positive but the market liquidity crisis may act as a deterrent to market momentum.”
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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