Cryptocurrency Price Today: Ethereum Dips Below $1,200, Top Altcoins Land In The Reds
Cryptocurrency price on November 17 quick take: The global crypto market cap stood at $831.06 billion on Thursday morning.
Ethereum (ETH) — the second-most valued crypto coin in the world — dipped below the $1,200 mark early Thursday morning. Bitcoin (BTC), on the other hand, appeared to remain stable within the $16,000 range. Other popular altcoins — including the likes of Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — landed in the reds across the board. The Trust Wallet Token (TWT) emerged to be the biggest gainer, with a 24-hour jump of over 11 percent. Algorand (ALGO) turned out to be the biggest loser.
At the time of writing, the global crypto market cap stood at $831.06 billion, registering a 24-hour dip of 2.35 percent.
Bitcoin (BTC) price today
Bitcoin price stood at $16,537.50, seeing a 24-hour dip of 2.52 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 14.48 lakhs.
Ethereum (ETH) price today
ETH price stood at $1,198.59, marking a 24-hour loss of 4.85 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.05 lakhs.
Dogecoin (DOGE) price today
DOGE registered a 24-hour dip of 3.09 percent as per CoinMarketCap data, currently priced at $0.0851. As per WazirX, Dogecoin price in India stood at Rs 7.45.
Litecoin (LTC) price today
Litecoin saw a 24-hour dip of 2.59 percent. At the time of writing, it was trading at $57.62. LTC price in India stood at Rs 4,871.43.
Ripple (XRP) price today
XRP price stood at $0.3748, seeing a 24-hour dip of 2.53 percent. As per WazirX, Ripple price stood at Rs 32.66.
Solana (SOL) price today
Solana price stood at $14.14, marking a 24-hour loss of 2.38 percent. As per WazirX, SOL price in India stood at Rs 1,225.
Top crypto gainers today (November 17)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Trust Wallet Token (TWT)
Price: $2.21
24-hour gain: 11.81 percent
Chain (XCN)
Price: $0.04901
24-hour gain: 2.91 percent
Decred (DCR)
Price: $20.12
24-hour gain: 2.48 percent
Toncoin (TON)
Price: $1.72
24-hour gain: 2.32 percent
UNUS SED LEO (LEO)
Price: $3.87
24-hour gain: 1.67 percent
Top crypto losers today (November 17)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Algorand (ALGO)
Price: $0.272
24-hour loss: 8.09 percent
Arweave (AR)
Price: $9.43
24-hour loss: 7.26 percent
GMX (GMX)
Price: $39.86
24-hour loss: 7.22 percent
Loopring (LRC)
Price: $0.2474
24-hour loss: 7.22 percent
Stacks (STX)
Price: $0.2332
24-hour loss: 6.62 percent
What crypto exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin fell by 1.27 percent over the past 24 hours as investors reacted to Genesis suspending their withdrawals in the wake of the FTX collapse. BTC is currently trading below the $16,700 level. Even though BTC rose on Tuesday, reacting to the latest inflation news, it could not sustain the gains. If BTC remains below the $17,622 level, it may increase the prospect of a break below the $15,588 zone.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “Ethereum price exchanges hands at $1,212 after succumbing to selling pressure at $1,350. The push for $1,070 support followed Binance's newly announced Industry Recovery Fund. After UK Inflation Data Is Released. which returned higher than expected. Most altcoins in the market have also followed suit as traders remain in wait-and-see mode. Bitcoin is currently trading at $16,740 after opening the day at $16,886. BTC has fluctuated between $16,761 and $17,002 over the past 24 hours as the recent conflict between Russia and Ukraine has depressed prices.”
weTrade founder Prashant Kumar offered his take on the market scenario as well, "The global crypto market cap saw an approximately 2 percent decline over the past day. Key coins including Ethereum and Bitcoin continue to hold their support levels of $1,200 and $16,000, respectively, after the FTX crash. We have seen that FTX customers in the US are protected and international ones are not as the US has some regulations in place. This shows that a healthy set of regulations go a long way in protecting consumer interests.”
Shivam Thakral, the CEO of BuyUCoin, said, “The crypto assets are facing some heat after the recent developments at the lending vertical of crypto investment bank Genesis global. Bitcoin is still holding above the $16,000 mark and Ethereum is holding strong at the $1,200 support level. The United Kingdom reported higher-than-expected inflation numbers, the highest in 41 years, which will have an impact on investor sentiment in the near future.”
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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