Cryptocurrency Price Today: Bitcoin Stays Below $27,000, Akash Network Becomes Top Gainer

Bitcoin (BTC), the world’s oldest and most valuable cryptocurrency, remained below $27,000 early Tuesday. Other popular altcoins — including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — have seen a mix of small bounces and declines across the board. Akash Network (AKT) token was the biggest gainer of the group with a 24-hour jump of over 17 percent. Curve DAO Token (CRV), on the other hand, became the biggest loser with a 24-hour loss of almost 5 percent.

At the time of writing, the global crypto market cap was $1.05 trillion, down 0.71 percent over the 24-hour period.

Bitcoin (BTC) price today

According to CoinMarketCap, bitcoin price stood at $26,032.01, down 0.19 percent in the 24-hour period. According to Indian exchange WazirX, the BTC price was at 23.29 lakh rupees.

Ethereum (ETH) price today

At the time of writing, ETH price is trading at $1,663.28, down 0.76 percent over 24 hours. According to WazirX, Ethereum price in India was 1.48 lakh rupees.

Dogecoin (DOGE) price today

DOGE is down 1.95 percent over the 24-hour period, according to CoinMarketCap data, and currently trades at $0.06255. According to WazirX, Dogecoin price in India was 5.57 rupees.

Litecoin (LTC) price today

Litecoin is up 0.23 percent in 24 hours. At the time of writing, the transaction price was $66.58. The LTC price in India stood at 5,969.31 rupees.

Ripple (XRP) price today

XRP price stood at $0.5209, posting a 2.12 percent drop in 24 hours. According to WazirX, Ripple price was 46.10 rupees.

Solana (SOL) price today

Solana price was at $21.07, down 1.87 percent over the 24-hour period. According to WazirX, the SOL price in India was 1,860.01 rupees.

Top Crypto Winners Today (22nd August)

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

Akash Network (AKT)

Price: $1.60
24-hour gain: 17.18 percent

Optimism (OP)

Price: $1.52
24-hour gain: 2.72 percent

Ethereum Classic (ETC)

Price: $15.77
24-hour gain: 1.06 percent

Monero (XMR)

Price: $149.23
24-hour gain: 0.93 percent

Frax Stock (FXS)

Price: $6.12
24-hour gain: 0.83 percent

Top Crypto Losers Today (22 Aug)

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

Curve Dao Token (CRV)

Price: $0.4753
24-hour loss: 4.85 percent

Shiba Inu (SHIB)

Price: $0.000007923
24-hour loss: 4.75 percent

XDC network (XDC)

Price: $0.05537
24-hour loss: 4.20 percent

Avalanche (AVAX)

Price: $10.33
24-hour loss: 4.19 percent

Filecoin (FIL)

Price: $3.41
24-hour loss: 4.06 percent

What crypto exchanges are saying about the current market scenario

Edul Patel, co-founder and CEO of Mudrex, told ABP Live, “Bitcoin trading value has consolidated around the $26,000 mark. This could possibly be due to dwindling confidence in the US bitcoin spot ETF and the US 10-year Treasury yield, which rose 9 basis points to 4.35 percent, its highest level since 2007. Meanwhile, Ethereum is consistently over Traded for $1,600. AVAX, the native cryptocurrency of the Avalanche blockchain, has a unlock event scheduled for Saturday, August 26th. A total of 9.54 million AVAX tokens will be circulated at this event.”

Shubham Hudda, Senior Manager, CoinSwitch Markets Desk, said, “After seeing BTC drop over the past few days, bitcoin price is just managing to hold above $26,000 and the market is shining just found psychological support.” market cap of $1 trillion. Additionally, the crypto and fear index remains in the fear zone at 37/100. While the sentiment of the larger marker is currently looking bearish, one can see the pulse of the market by looking at how LTC performed after the recent halving. Yesterday, it was up almost 2.7 percent, showing that all may not be lost for crypto market bulls.”

Sathvik Vishwanath, CEO and co-founder of Unocoin, said: “Following last week’s sharp 10.5 percent drop that marked Bitcoin’s worst performance of 2023, the price of the cryptocurrency stabilized on Monday.” The rate is currently at around $26,000 and traders are awaiting upcoming US data and comments from federal policymakers, including Fed Chair Jerome Powell’s speech on Friday, which could potentially propel US Treasury yields to fresh multi-decade highs. This could have a negative impact on both the crypto and US stock markets. BTC price is under pressure on technical selling after falling below the 2023 uptrend and the 200-day moving average (DMA). In the absence of fresh updates on bullish bitcoin stories such as ETF applications, the cryptocurrency remains vulnerable to further short-term downside. Looking at the six phases of the rally this year, if this pattern continues, Bitcoin’s price may fall just another 2 to 4 percent from July highs before starting a new rally, and possibly one Low reached around $25,000.”

Shivam Thakral, the CEO of BuyUCoin, said: “The cryptocurrency market is in a state of dynamic change, as evidenced by the remarkable increase in trading volume over the past 24 hours. Coinbase is acquiring a minority stake in Circle Internet Financial and the companies are ending their relationship with the Center Consortium that created USD Coin (USDC), the second largest stablecoin in the world. Bitcoin, the digital gold standard, is holding its ground amid this crypto market frenzy with a current price of $26,040.60. They are a testament to the durability and disruptive potential of blockchain technology as the crypto ecosystem transforms.”

The CoinDCX research team told ABP Live, “BTC and other major cryptocurrencies traded flat after the biggest liquidation events of the last few months.” Bitcoin remained stable around $26,000 and Ethereum at $1,670. According to a Bloomberg report, there are indications that the US Securities and Exchange Commission (SEC) will approve Ethereum futures exchange-traded funds (ETFs) in the next few months. This development could potentially lead to a new rally for Ethereum, which has shown muted price action so far this year.”

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