Cryptocurrency Price Today: Dogecoin Snaps Bull Run; Bitcoin, Ethereum Manage To Remain Stable
Cryptocurrency price on November 3 quick take: The recent US Fed rate hike left a negative impact on altcoin prices across the board.
Dogecoin (DOGE), Elon Musk’s favourite memecoin, has lost its gain streak and landed among the top losers on early Thursday morning. Bitcoin (BTC) and Ethereum (ETH) managed to remain within the $20,000 and $1,500 range despite seeing minor dips. The recent 75-bps interest rate hike by the US Federal Reserve has also left a negative impact on crypto prices across the board. It can be expected that the global crypto market cap might see a decline in the coming days. The Arwearve (AR) and Litecoin (LTC) tokens saw massive jumps in the last 24 hours, at over 64 per cent and 13 per cent, respectively.
At the time of writing, the global crypto market cap stood at $1.01 trillion, registering a dip of 0.95 per cent in the last 24 hours, as per CoinMarketCap data.
Bitcoin (BTC) price today
Bitcoin price stood at $20,359.27, seeing a minor 24-hour dip of 0.78 per cent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 17.62 lakhs.
Ethereum (ETH) price today
ETH price stood at $1,554.30, marking a 24-hour loss of 2.26 per cent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.33 lakhs.
Dogecoin (DOGE) price today
DOGE registered a 24-hour dip of 6.84 per cent as per CoinMarketCap data, currently priced at $0.1466. As per WazirX, Dogecoin price in India stood at Rs 11.58.
Litecoin (LTC) price today
Litecoin saw a 24-hour jump of 13.47 per cent. At the time of writing, it was trading at $62.64. LTC price in India stood at Rs 5,490.
Ripple (XRP) price today
XRP price stood at $0.4581, seeing a 24-hour gain of 0.69 per cent. As per WazirX, Ripple price stood at Rs 39.12.
Solana (SOL) price today
Solana price stood at $31.93, marking a 24-hour dip of 1.18 per cent. As per WazirX, SOL price in India stood at Rs 2,733.01.
Top crypto gainers today (November 3)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Arweave (AR)
Price: $16.76
24-hour gain: 64.25 per cent
Litecoin (LTC)
Price: $62.71
24-hour gain: 13.31 per cent
Polygon (MATIC)
Price: $0.9662
24-hour gain: 10.42 per cent
Basic Attention Token (BAT)
Price: $0.328
24-hour gain: 10.36 per cent
Filecoin (FIL)
Price: $5.86
24-hour gain: 8.66 per cent
Top crypto losers today (November 3)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Chain (XCN)
Price: $0.05441
24-hour loss: 12.31 per cent
Dogecoin (DOGE)
Price: $0.134
24-hour loss: 7.63 per cent
Aptos (APT)
Price: $7.50
24-hour loss: 6.17 per cent
Shiba Inu (SHIB)
Price: $0.00001227
24-hour loss: 4.32 per cent
Nexo (NEXO)
Price: $0.9831
24-hour loss: 3.57 per cent
What crypto exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Most cryptocurrencies plunged a bit after the US Federal Reserve officials raised the benchmark interest rate by 75 basis points for the fourth consecutive time. The move has caused volatility across all markets. The price of Bitcoin has slid below the $20,500 level in the past 24 hours. If bulls can hold on to BTC, keeping it above the current level today without dropping, we might see an upward trend. BTC’s support now lies at $19,500, while the resistance holds at $21,000.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “The US Federal Reserve raised interest rates by 0.75 percentage points in its continued fight against inflation. Markets reacted negatively when Fed Chairman Jerome Powell hinted at a rationale for halting hikes, saying it was ‘extremely premature’ to discuss a pause. The BTC/USD pair is currently trading bearish after breaking the strong $20,330 support level. Closing the candles below this level will almost certainly lead to a strong selling trend in BTC. Additionally, the uptrend line that supported BTC near $20,300 was broken.”
weTrade founder Prashant Kumar offered his take on the market scenario as well, "The US Federal Reserve hiked interest rates by 75 basis points for the fourth consecutive month on Wednesday. Interestingly, the global crypto market cap in comparison to its equity counterparts remained largely stable after the announcement. Thus, signalling some strengthening of the market. During Asia trading hours on Thursday morning, the global market cap remained above $1 trillion and Bitcoin was trading above $20,000 with both seeing an approximately 1 per cent decline. Meanwhile, Dogecoin, which has enjoyed great highs over the last week saw an 8 per cent decline over the past 24 hours.”
Shivam Thakral, the CEO of BuyUCoin, said, “In a much-anticipated move, US Federal Reserve hiked the interest rate by 75 basis points for the fourth consecutive time due to which the majority of the crypto assets tumbled into the red. The overall crypto market cap dropped by 1 per cent but is still above the $1 trillion mark. Bitcoin dropped by over 1 per cent and is trading at the $20,321.87 mark whereas Ethereum witnessed a drop of over 2 per cent and is exchanging hands at $1,549.02. DOGE ended its mega rally today with a drop of over 6 per cent in the last 24 hours while other altcoins like DOT, MATIC, SOL, and TRX saw a marginal dip in their prices after the Fed rate hike news.”
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.
Trending News
Top Headlines
