Cryptocurrency Price Today: Ethereum Rises Above $1,900, Bitcoin Briefly Crosses $29,000
Cryptocurrency price on May 29 quick take: The global market cap rose to $1.11 trillion.
Ethereum (ETH) managed to climb above the $1,900 mark after weeks of slump. Bitcoin (BTC), on the other hand, managed to briefly rise above the $29,000 mark but dipped down to the $28,000 range early Monday. The resolution of the US debt ceiling deadlock is generally considered to be the biggest factor behind the latest rally. While memecoin PEPE continued to be the top loser of the lot, with a 24-hour dip of over 4 percent, the Mask Network (MASK) token emerged to be the biggest gainer of the lot, with a 24-hour jump of over 13 percent.
The global crypto market cap stood at $1.17 trillion at the time of writing, registering a 24-hour gain of 2.61 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $28,061.25, registering a 24-hour gain of 3.11 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 24.56 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,905.60, marking a 24-hour jump of 2.88 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.67 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour gain of 0.47 percent, as per CoinMarketCap data, currently priced at $0.07328. As per WazirX, Dogecoin price in India stood at Rs 6.43.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour jump of 0.79 percent. At the time of writing, it was trading at $90.77. LTC price in India stood at Rs 7,800.01.
Ripple (XRP) Price Today
XRP price stood at $0.4819, seeing a 24-hour gain of 1.73 percent. As per WazirX, Ripple price stood at Rs 42.27.
Solana (SOL) Price Today
Solana price stood at $20.78, marking a 24-hour jump of 0.93 percent. As per WazirX, SOL price in India stood at Rs 1,850.
Top Crypto Gainers Today (May 29)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
PancakeSwap (CAKE)
Price: $1.79
24-hour gain: 14.83 percent
Mask Network (MASK)
Price: $4.75
24-hour gain: 14.54 percent
Injective (INJ)
Price: $7.07
24-hour gain: 8.86 percent
Lido DAO (LDO)
Price: $2.09
24-hour gain: 5.22 percent
The Sandbox (SAND)
Price: $0.5533
24-hour gain: 4.87 percent
Top Crypto Losers Today (May 29)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Pepe (PEPE)
Price: $0.000001466
24-hour loss: 3.36 percent
BitDAO (BIT)
Price: $0.5134
24-hour loss: 0.72 percent
Toncoin (TON)
Price: $1.92
24-hour loss: 0.71 percent
PAX Gold (PAXG)
Price: $1,961.28
24-hour loss: 0.13 percent
TRON (TRX)
Price: $0.07757
24-hour loss: 0.10 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Within the last 24 hours, a majority of cryptocurrencies witnessed positive momentum due to market responses to two key developments: the White House's announcement of a successful resolution to the debt ceiling crisis and better-than-expected personal consumption data from the US. At present, Bitcoin is being traded above $28,000, indicating a 3 percent surge over the past day and a successful rebound from previous weekly losses. Similarly, Ethereum observed upward movement, reaching a trading price of $1,900.”
CoinSwitch investment lead Parth Chaturvedi offered his take, “Crypto markets rallied over the weekend and are currently trading in the green. Global crypto market capitalisation is at $1.22 trillion, up ~3 percent since yesterday. The crypto fear and greed index rose by 4 points over the weekend and now stands at 52 (neutral zone). This could be attributed to the announcement by the White House about a possible deal pertaining to US debt ceiling.”
WazirX Vice President Rajagopal Menon said, “Crypto kicks off the Asian trading day on a bullish note as the White House unveils a successfully negotiated agreement to prevent a potential debt ceiling turmoil. On WazirX, PancakeSwap (CAKE) and Quant (QNT) have been the top gainers in the last 24 hours.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “Bitcoin is currently trading at $28,089 and is showing a potential retest of the $27,800 region. BNB, on the other hand, is trading at $314, while Ethereum is priced at $1,905. The overall market sentiment appears bullish today.”
Shivam Thakral, the CEO of BuyUCoin, said, “The impasse over the US debt ceiling shows early signs of moving towards a resolution as the 99-page text was released on Sunday night which will be subject to debate in coming days. The development had an immediate impact on the crypto market as BTC and Ether jumped by 3.37 percent and 3.10 percent, respectively. Market liquidity is expected to get a boost which will drive the market momentum in the coming weeks.”
CoinDCX Research Team told ABP Live, “The uncertain macroeconomic climate has contributed to a decline in the crypto market, fueled by concerns surrounding inflation, crypto regulations, and the ongoing debt ceiling stalemate. In a positive turn of events, Bitcoin's sell-side risk ratio has reached an all-time low. This development indicates that investors have shown reluctance to sell their Bitcoins within the current price range, regardless of whether it would result in profit or loss. Such behaviour is typically observed when sellers on both ends become exhausted, signalling the potential for significant price movements on the horizon.”
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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