Cryptocurrency Price Today: Bitcoin Rises Above $27,000, Conflux Becomes Top Gainer

Cryptocurrency price on May 23 quick take: The global market cap rose to $1.14 trillion.

Bitcoin price stood at $27,386.60 on Tuesday.

Bitcoin (BTC), the oldest and most valued crypto in the world, managed to rise above the $27,000 mark early Monday. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — landed in the greens across the board. The Conflux (CFX) token managed to become the biggest gainer of the lot, with a 24-hour jump of over 17 percent. UNUS SE LEO (LEO), on the other hand, turned out to be the biggest loser, with a 24-hour dip of nearly 2 percent. 

The global crypto market cap stood at $1.14 trillion at the time of writing, registering a 24-hour gain of 2.64 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $27,386.60, registering a 24-hour gain of 2.73 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 23.75 lakh.

Ethereum (ETH) Price Today

ETH price stood at $1,863.37, marking a 24-hour jump of 3.36 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 gain of 3.03 percent, as per CoinMarketCap data, currently priced at $0.07376. As per WazirX, Dogecoin price in India stood at Rs 6.43.

Litecoin (LTC) Price Today

Litecoin saw a 24-hour jump of 1.91 percent. At the time of writing, it was trading at $92.60. LTC price in India stood at Rs 8,099.

Ripple (XRP) Price Today

XRP price stood at $0.465, seeing a 24-hour gain of 1.67 percent. As per WazirX, Ripple price stood at Rs 40.01.

Solana (SOL) Price Today

Solana price stood at $20.03, marking a 24-hour jump of 2.48 percent. As per WazirX, SOL price in India stood at Rs 1,799. 

Top Crypto Gainers Today (May 23)

As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:

Conflux (CFX)

Price: $0.3367
24-hour gain: 17.48 percent

Neo (NEO)

Price: $10.16
24-hour gain: 10.15 percent

Render Token (RNDR)

Price: $2.65
24-hour gain: 9.77 percent

Tron (TRX)

Price: $0.07933
24-hour gain: 6.54 percent

IOTA (MIOTA)

Price: $0.1875
24-hour gain: 6.40 percent

Top Crypto Losers Today (May 23)

As per CoinMarketCap data, here are the top four crypto losers over the past 24 hours:

UNUS SED LEO (LEO)

Price: $3.52
24-hour loss: 1.46 prcent

PAX Gold (PAXG)

Price: $1,977.99
24-hour loss: 0.30 percent

Rocket Pool (RPL)

Price: $48.93
24-hour loss: 0.08 percent

USD Coin (USDC)

Price: $0.9999
24-hour loss: 0.01 percent

What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin has remained steady above the $27,000 mark in the last 24 hours, experiencing a modest 1 percent increase. During this time, investors might have evaluated the latest developments surrounding the US debt ceiling. Over the past two weeks, BTC has been traded between $26,500 to $27,500, reflecting uncertainties in the US macroeconomic landscape. While Bitcoin's value has declined by 8 percent this month, it has witnessed a 62 percent increase since the beginning of the year. Conversely, Ethereum has surpassed Bitcoin's performance, exhibiting a 2 percent gain, and is presently valued at around $1,830.”

CoinSwitch investment lead Parth Chaturvedi offered his take, “Crypto markets are trading slightly higher in the last 24 hours. Global crypto market capitalisation is at $1.18 trillion, up around 1.9 percent since yesterday. The crypto fear and greed index remains in the neutral zone with 50 points, up 1 point. Investor sentiment continues to be cautious in the backdrop of the US debt ceiling discussions. BTC is up 1.5 percent since yesterday and remains around $27,000. It is currently trading in one of the narrowest ranges in the past three years. ETH is also trading in the green, up around 2.2 percent and over $1,800. In parallel, another crypto project — STEPN — has been added to the Apple ecosystem. Last week saw Axie Infinity’s rollout on the Apple App Store.”

WazirX Vice President Rajagopal Menon said, “Bitcoin’s upcoming halving has experts predicting a bullish phase in the market. Bitcoin maximalists have termed this phase as decisive for its next run. Regulatory concerns continue in the market. However, the EU seems to be moving rapidly towards drafting policies for operations of VDAs.”

Sathvik Vishwanath, CEO and co-founder of Unocoin said, “The current price of Bitcoin is $27,000 with a 24-hour trading volume of $9.6 billion. Bitcoin holds the top position on CoinMarketCap and boasts a market capitalization of $520 billion. With a triple bottom pattern at $26,600, an upside reversal with a target of $27,200 seems likely. Resistance at $27,200 and support at $26,600 are seen on the 4-hour chart, with the 50-day EMA reinforcing the $26,700 support level. A watch for a break above $26,600 is key and could lead to an upward move towards $27,200 and $27,500.”

Shivam Thakral, the CEO of BuyUCoin, said, “The overall crypto market cap witnessed a jump of over 2 percent to touch $1.14 trillion with crypto heavyweights like BTC and ETH leading the effort. Investors across the globe are closely watching the debt ceiling development which will directly impact the liquidity in the market. The market momentum is slow but consistent and BTC is well within the range to test the $30,000 mark in the coming weeks if macroeconomic factors turn favourable.” 

CoinDCX Research Team told ABP Live, “Crypto markets declined by 0.5 percent over the weekend, with the total market cap standing at $1.12 trillion. Bitcoin, the leading digital currency, slipped below the $27,000 mark, just before US President Joe Biden will be discussing the debt ceiling today. Over the past month, Bitcoin has been mostly in a consolidation phase, experiencing a mere 2 percent decline while managing to hold its value. On a positive sign, the rise in BTC social dominance, often indicative of fear in the market, raises the probability of a rebound. Furthermore, the heightened discussion surrounding Bitcoin following its price slump below $27,000 can be viewed as a positive sign for a potential pullback.”

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.