Cryptocurrency Price Today: Bitcoin and Ethereum Fail to Impress; XDC becomes top gainer

Bitcoin (BTC), the world’s oldest and most valuable cryptocurrency, remained below $30,000 early Friday. Ethereum (ETH) also failed to clear the $1,900 level. Other popular altcoins — including Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — have seen a mix of small bounces and declines across the board. XDC Network (XDC) token proved to be the biggest gainer of the group with a 24-hour jump of over 6 percent. GMX, on the other hand, became the biggest loser with a 24-hour decline of almost 7 percent.

At the time of writing, the global cryptocurrency market cap was $1.17 trillion, down 0.61 percent over the past 24 hours.

Bitcoin (BTC) price today

According to CoinMarketCap, bitcoin price stood at $29,363.64, down 0.65 percent over the 24-hour period. According to Indian exchange WazirX, the BTC price was at 25.02 lakh rupees.

Ethereum (ETH) price today

At the time of writing, ETH price is trading at $1,844.43, down 0.39 percent over 24 hours. According to WazirX, Ethereum price in India was 1.56 lakh rupees.

Dogecoin (DOGE) price today

DOGE is down 0.47 percent in the 24-hour period, according to CoinMarketCap data, and currently stands at $0.07549. According to WazirX, Dogecoin price in India was 6.40 rupees.

Litecoin (LTC) price today

Litecoin posted a 24-hour drop of 1.15 percent. At the time of writing, the transaction price was $83.11. The LTC price in India was Rs.7,050.02.

Ripple (XRP) price today

XRP price stood at $0.6342, down 0.45 percent over the 24-hour period. According to WazirX, Ripple price was 54.11 rupees.

Solana (SOL) price today

Solana price was at $24.76, up 1.81 percent over the 24-hour period. According to WazirX, the SOL price in India was 2,041 rupees.

Top Crypto Winners Today (11th August)

According to CoinMarketCap data, here are the five crypto gainers over the past 24 hours:

XDC network (XDC)

Price: $0.06733
24-hour gain: 6.17 percent

Flare (FLR)

Price: $0.01588
24-hour gain: 4.40 percent

THOR Chain (RUNE)

Price: $1.06
24-hour gain: 3.12 percent

Shiba Inu (SHIB)

Price: $0.000009944
24-hour gain: 2.30 percent

Manufacturer (MKR)

Price: $1,244.94
24-hour gain: 2.11 percent

Top Crypto Losers Today (11th August)

According to CoinMarketCap data, here are the top five crypto losers over the past 24 hours:

GMX (GMX)

Price: $46.41
24-hour loss: 6.52 percent

Arweave (AR)

Price: $4.95
24-hour loss: 5.87 percent

Fit (APT)

Price: $7.06
24-hour loss: 4.94 percent

Ivy (HBAR)

Price: $0.05704
24-hour loss: 4.11 percent

Conflux (CFX)

Price: $0.1755
24-hour loss: 3.88 percent

What crypto exchanges are saying about the current market scenario

Edul Patel, co-founder and CEO of Mudrex, told ABP Live, “The price of bitcoin has stayed above $29,300.” Although the US Consumer Price Index (CPI) rose 0.2 percent in July, the price changed from Bitcoin not essential. Ripple prices are up over 6 percent in the last 24 percent and Shiba Inu’s value is up more than 2 percent. Ethereum continues to trade between $1,800 and $1,900, similar to last week.”

Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said: “The crypto market has continued to range with some downward pressure over the past 24 hours. According to CoinGecko, the global crypto market cap is down 0.6 percent and remains above $1.2 trillion. The crypto fear and greed index is down 2 points and is currently in neutral territory at 51/100. With the exception of Solana (SOL, +1.6%), other top 10 cryptos by market cap were slightly down. BTC (-0.7 percent) and ETH (-0.4 percent) continue to trade around the $29,000 and $1,800 levels, respectively. The market as a whole appears to have shown resilience given the release of the latest CPI figure, which rose 0.2% and was in line with market forecasts.”

Rajagopal Menon, Vice President of WazirX, commented: “Bitcoin and Ether open the trading day unchanged, showing their resilience to macro factors. The cryptocurrency market does not seem to be affected by the latest Consumer Price Index (CPI) figures, which is in line with economists’ forecasts. Analysts continue to wonder why Bitcoin is struggling to surpass $30,000. This challenge is often attributed to the uncertainty surrounding the SEC’s approval of a Bitcoin exchange-traded fund (ETF), profit-taking by miners, relatively low participation from retail investors, and resistance in the derivatives market. These factors work together to suppress market volatility.”

Sathvik Vishwanath, CEO and co-founder of Unocoin said, “Bitcoin is hovering around $29,390 and has seen a -0.75 percent drop in the last 24 hours on reduced liquidity in the crypto market.” This drop led to the launch of crypto derivatives. Factors include the registration of bitcoin ETFs and the SEC’s role in influencing market dynamics. Bittrex was charged with unregistered securities, which impacted spot trading. Bitcoin is hovering around $29,400, Ether below $1,850. Traders are looking for volatile meme coins for quick profits. XRP20, an enhanced XRP on Ethereum, offers decentralized benefits and passive income shares. The project raised $1.87 million, met its soft cap goal, and attracted investors with its innovative features.”

The CoinDCX research team told ABP Live, “Cryptomarkets saw a slight decline, with Bitcoin falling nearly 1 percent after US CPI showed inflation had risen to 3.2 percent yoy in July compared to the expected 3.3 percent, but still significantly higher than the Federal Reserve’s target of 2.” percent. Core consumer price index (CPI) inflation, which excludes volatile food and energy prices, was 4.7 percent in July, down from 4.8 percent in June. The jobless claims data for the last week rose to 248k, beating the consensus forecast of 230k. While inflation remains well above the Fed’s 2% target, falling prices should ease some of the pressure on the Federal Reserve to hike rates further.”

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