Cryptocurrency Price Today: Bitcoin, Ethereum Show Signs Of Recovery. STX Becomes Top Gainer
Cryptocurrency price on May 3 quick take: The global market cap rose to $1.18 trillion.
Bitcoin (BTC), the oldest and most valued crypto coin, managed to climb above the $28,000 mark despite a decrease in US job openings as reported in the latest Job Openings and Labor Turnover Survey (JOLTS) data. Alongside, other popular altcoins — including the likes of Ethereum (ETH), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — managed to land in the greens across the board. The Stacks (STX) token managed to become the top gainer, with a 24-hour jump of over 13 percent. Render Token (RNDR), on the other hand, emerged as the top loser, with a 24-hour dip of nearly 3 percent.
The global crypto market cap stood at $1.18 trillion at the time of writing, registering a 24-hour gain of 1.40 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $28,500.20, registering a 24-hour jump of 1.74 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 24.90 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,863.53, marking a 24-hour gain of 1.98 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.63 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour dip of 0.21 percent, as per CoinMarketCap data, currently priced at $0.07838. As per WazirX, Dogecoin price in India stood at Rs 6.93.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour gain of 0.98 percent. At the time of writing, it was trading at $87.72. LTC price in India stood at Rs 7,563.05.
Ripple (XRP) Price Today
XRP price stood at $0.4633, seeing a 24-hour jump of 0.11 percent. As per WazirX, Ripple price stood at Rs 40.36.
Solana (SOL) Price Today
Solana price stood at $21.87, marking a 24-hour gain of 0.03 percent. As per WazirX, SOL price in India stood at Rs 1,940.
Top Crypto Gainers Today (May 3)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Stacks (STX)
Price: $0.7767
24-hour gain: 13.64 percent
Synthetix (SNX)
Price: $2.47
24-hour gain: 5.86 percent
Rocket Pool (RPL)
Price: $48.52
24-hour gain: 4.94 percent
dYdX (DYDX)
Price: $2.48
24-hour gain: 3.01 percent
TRON (TRX)
Price: $0.06942
24-hour gain: 2.99 percent
Top Crypto Losers Today (May 3)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Render Token (RNDR)
Price: $2.07
24-hour loss: 2.88 percent
VeChain (VET)
Price: $0.02084
24-hour loss: 2.31 percent
Flare (FLR)
Price: $0.02945
24-hour loss: 2.09 percent
Immutable (IMX)
Price: $0.9155
24-hour loss: 1.77 percent
Aptos (APT)
Price: $9.70
24-hour loss: 1.52 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin experienced a nearly 2 percent increase within 24 hours in response to the Job Openings and Labor Turnover Survey (JOLTS) data. The data indicated that job openings in the US had decreased to 9.6 million in March, falling below the expected 9.775 million and reaching their lowest point since April 2021. Investors might have perceived unfavourable employment data as favourable for the markets. Following the data release, Bitcoin rebounded from its six-day low of $27,600 and quickly rose to $28,500. Investors and traders may also be taking early action ahead of the US Federal Reserve's decision regarding an interest rate hike. In the meantime, Ethereum also saw activity at the $1,850 level, aligning with Bitcoin's movements.”
WazirX Vice President Rajagopal Menon said, “Bitcoin (BTC) saw a surge in price on Tuesday as investors showed renewed interest in crypto and other valuable assets amid banking concerns. This was triggered by a drop in shares of two regional banks, PacWest and Western Alliance Bancorp, leading to a BTC price rise from around $28,000. On WazirX, Komodo (KMD) and Stacks (STX) have been the top gainers in the last 24 hours.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “In the short term, the escalating banking crisis, the US economic outlook, and monetary policy will affect the price of Bitcoin. Currently consolidating in the $27,000-$31,000 range, further US bank collapses may increase safe-haven demand, pushing Bitcoin sustainably towards $30,000. Predicting a new bull market for Bitcoin due to on-chain indicators, historical market cycles, and ongoing macroeconomic issues such as financial stability concerns.”
Shivam Thakral, the CEO of BuyUCoin, said, “The crypto market remained almost flat ahead of the expected rate hike by US Fed on Wednesday. A rate hike of 25 basis points is expected and it remains to be seen if the Fed will end its hawkish stance and relax monetary policies to boost liquidity in the market. The continued rate hikes have already made borrowing a costly affair and we don’t expect rates to come down from current levels anytime soon. The crypto market momentum will largely depend on the macroeconomic factors surrounding the financial markets.”
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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