Cryptocurrency Price Analysis: Bitcoin And Altcoins Trade Sideways On August 28
In the ever-evolving landscape of cryptocurrencies, the prices of major digital assets, including Bitcoin (BTC), Ethereum (ETH), and other prominent coins, are closely watched. On August 28, the global market cap of cryptocurrencies reached $1.05 trillion. Here’s a snapshot of the latest cryptocurrency prices and trends.
Global Market Cap and Privacy Policy
The day’s cryptocurrency market activity began with the global market cap standing at an impressive $1.05 trillion. As you explore this page, it’s important to note that by continuing to use the website, you agree to its Privacy Policy.
Market Insights
Bitcoin (BTC)
Bitcoin, the pioneering cryptocurrency and a symbol of the crypto space, stood strong on this day at a price of $26,002.83. Despite minor fluctuations, BTC managed to remain above the significant $26,000 mark.
Altcoin Sideways Movement
Other prominent altcoins, including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL), showcased a sideways trading pattern, indicating relatively minor price movements. CoinMarketCap’s Fear and Greed Index scored 35 out of 100, reflecting the market sentiment.
Top Gainer: dYdX (DYDX)
Among the various cryptocurrencies, dYdX (DYDX) emerged as the top gainer within the last 24 hours, boasting a remarkable gain of 4.13 percent. This token’s rise indicates positive market sentiment and investor interest.
Top Loser: Theta Network (THETA)
On the flip side, Theta Network (THETA) experienced a notable decline of over 4 percent within the same 24-hour period, marking it as the top loser.
Detailed Price Analysis
Bitcoin (BTC) Price
Bitcoin’s price stood at $26,002.83, registering a minor dip of 0.02 percent within the past 24 hours. The Indian exchange WazirX reported a corresponding price of Rs 23 lakh for BTC.
Ethereum (ETH) Price
Ethereum, a significant player in the crypto realm, displayed a price of $1,649.12, indicating a modest gain of 0.12 percent within the last 24 hours. In the Indian market, Ethereum’s price was noted at Rs 1.49 lakh.
Dogecoin (DOGE) Price
Dogecoin, known for its meme-inspired origins, experienced a slight loss of 0.39 percent, with its current price set at $0.06256. The corresponding Indian price on WazirX was Rs 5.62.
Litecoin (LTC) Price
Litecoin’s price witnessed a marginal dip of 0.43 percent, settling at $64.84. In the Indian context, LTC was priced at Rs 5,702.
Ripple (XRP) Price
Ripple (XRP) saw a loss of 1.07 percent, with its current price at $0.5184. In India, the price of XRP stood at Rs 45.70.
Solana (SOL) Price
Solana (SOL) exhibited a gain of 1.05 percent, reaching a price of $20.49. The Indian market price for SOL was Rs 1,813.
Top Gainers and Losers
Top Gainers
Based on CoinMarketCap data, the top five crypto gainers over the last 24 hours were as follows:
- dYdX (DYDX)
- Price: $2.17
- 24-hour gain: 4.13 percent
- Conflux (CFX)
- Price: $0.1255
- 24-hour gain: 3.51 percent
- Filecoin (FIL)
- Price: $3.35
- 24-hour gain: 3.50 percent
- Frax Share (FXS)
- Price: $5.92
- 24-hour gain: 2.57 percent
- Maker (MKR)
- Price: $1,058.03
- 24-hour gain: 2.44 percent
Top Losers
The top five crypto losers over the past 24 hours, according to CoinMarketCap data, were as follows:
- Theta Network (THETA)
- Price: $0.6005
- 24-hour loss: 4.75 percent
- Injective (INJ)
- Price: $6.93
- 24-hour loss: 4.19 percent
- Sui (SUI)
- Price: $0.5534
- 24-hour loss: 4.13 percent
- WOO Network (WOO)
- Price: $0.1695
- 24-hour loss: 3.54 percent
- Optimism (OP)
- Price: $1.42
- 24-hour loss: 3.48 percent
Expert Perspectives on the Market
Various experts from cryptocurrency exchanges weighed in on the current market scenario:
- Edul Patel, Mudrex co-founder and CEO, emphasized the positive sentiment sparked by optimistic remarks from JPMorgan analysts. He noted Bitcoin’s trading near the $26,000 threshold and the potential conclusion of prolonged liquidation processes in the futures market.
- Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, highlighted the stability of the crypto market over the weekend and the ongoing cautiousness among crypto investors.
- Rajagopal Menon, Vice President at WazirX, discussed the potential impact of upcoming data on personal consumption expenditure and interest rate hikes on token prices.
- Sathvik Vishwanath, CEO and co-founder of Unocoin, commented on Bitcoin’s value and its position amidst concerns of a financial crisis and inflation.
- Shivam Thakral, CEO of BuyUCoin, underscored the dynamic nature of the crypto market and the influence of decentralized finance, as well as Bitcoin’s resilience in the face of volatility.
Disclaimer
Readers are reminded that investing in cryptocurrencies involves risks, and products like NFTs are unregulated and can be highly volatile. The content of this page provides insights and speculative predictions about the cryptocurrency market, which should be considered as informational rather than investment advice. It’s crucial to conduct thorough research and seek expert guidance before making any investment decisions in the cryptocurrency space.
The Hindustan Herald Is Your Source For The Latest In Business, Entertainment, Lifestyle, Breaking News, And Other News. Please Follow Us On Facebook, Instagram, Twitter, And LinkedIn To Receive Instantaneous Updates. Also Don’t Forget To Subscribe Our Telegram Channel @hindustanherald
