Cryptocurrency Price Today: Bitcoin Remains Below $27,000, Synthetix Becomes Top Gainer
Cryptocurrency price on September 4 quick take: The global market cap stood at $1.05 trillion.
Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, remained below the $27,000 mark over the weekend, as investor caution from the delay in US Securities and Exchange Commission’s (SEC) decision on spot Bitcoin exchange-traded funds (ETFs) continued to show its teeth. Popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — landed in the reds across the board early Monday. Synthetix (SNX) went on to become the biggest gainer, with a 24-hour jump of nearly 9 percent. GALA became the biggest loser, with a 24-hour dip of nearly 10 percent.
The global crypto market cap stood at $1.05 trillion at the time of writing, registering a 24-hour gain of 0.54 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $26,008.15, registering a 24-hour gain of 0.53 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 22.82 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,638.50, marking a 24-hour dip of 0.12 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.44 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour loss of 0.18 percent, as per CoinMarketCap data, currently priced at $0.06346. As per WazirX, Dogecoin price in India stood at Rs 5.60.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour dip of 0.41 percent. At the time of writing, it was trading at $64.49. LTC price in India stood at Rs 5,688.19.
Ripple (XRP) Price Today
XRP price stood at $0.5107, seeing a 24-hour gain of 1.81 percent. As per WazirX, Ripple price stood at Rs 44.02.
Solana (SOL) Price Today
Solana price stood at $19.77, marking a 24-hour gain of 1.04 percent. As per WazirX, SOL price in India stood at Rs 1,774.58.
Top Crypto Gainers Today (September 4)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Synthetix (SNX)
Price: $2.15
24-hour gain: 8.99 percent
Stellar (XLM)
Price: $0.1212
24-hour gain: 6.57 percent
Render (RNDR)
Price: $1.39
24-hour gain: 4.17 percent
BitTorrent(New) (BTT)
Price: $0.0000004224
24-hour gain: 3.98 percent
Rocket Pool (RPL)
Price: $22.92
24-hour gain: 3.84 percent
Top Crypto Losers Today (September 4)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Gala (GALA)
Price: $0.01657
24-hour loss: 9.78 percent
THORChain (RUNE)
Price: $1.47
24-hour loss: 5.47 percent
UNUS SED LEO (LEO)
Price: $3.67
24-hour loss: 5.03 percent
Hedera (HBAR)
Price: $0.04854
24-hour loss: 3.40 percent
XDC Network (XDC)
Price: $0.05789
24-hour loss: 2.06 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin is presently trading close to the $26,000 mark. It witnessed a temporary dip to the $25,700 range before recovering. This fluctuation could be because of the uncertainty caused by the US SEC's decision to postpone its evaluation of Bitcoin spot ETF applications until October. Furthermore, the withdrawal of Bitwise's Bitcoin spot ETF application, driven by the SEC's delay, maybe a contributing factor. If Bitcoin continues trading below $26,000, a continued downward trend might be possible. Meanwhile, Ethereum is trading at approximately $1,650. Altcoin Stellar’s price has grown by over 6 percent in the last 24 hours.”
Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “All major cryptos by market capitalization are trading marginally in the green. BTC (+0.5 percent) and ETH (+0.2 percent) continue to trade in a narrow range around their respective anchor levels of $26,000 and $1,600. However, recent whale activity pertaining to BTC underlines optimism among investors. Amidst the recent price weakening, the BTC whales started substantially increasing their holdings; increased by a total of $1.5 billion in the last two weeks of August. Given that whale movement usually leads to market movements, crypto investors are keeping a close look at BTC.”
Rajagopal Menon, Vice President, WazirX, said, “Bitcoin showed resilience with slight gains in the past 24 hours, although it remained below the $26,000 resistance point. This downtrend led to giving up last week's gains due to the positive court ruling concerning Grayscale's spot Bitcoin ETF application. Overall, the market cap held steady but with reduced trading volume. On WazirX, 0x Protocol (ZRX) and Synthetix Network Token (SNX) have been the top gainers in the last 24 hours.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “With an impressive trade volume of $8.4 billion, Bitcoin maintains its top spot on CoinMarketCap, boasting a market cap of $504 million and 19,474,968 BTC in circulation out of a maximum of 21,000,000 BTC. Market watchers should keep a close eye on Bitcoin as it nears the critical $25,400 support level last seen on August 22. Bearish signals, including a bearish engulfing candle on the 4-hour chart and a bearish crossover below the 50-day exponential moving average, indicate a potential downside.”
Shivam Thakral, the CEO of BuyUCoin, said, “The recent 3.81 percent decrease in the total crypto market volume over the last 24 hours signals some market turbulence. However, the DeFi sector, with a total volume of $1.89 billion, continues to play a significant role, comprising 9.39 percent of the entire crypto market's 24-hour volume. Bitcoin's current price of $25,985.19 also indicates its resilience in the face of market fluctuations. Investors should remain vigilant in this dynamic crypto landscape, balancing potential gains with the inherent volatility of these digital assets.”
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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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