By: Shayak Majumder | Updated at : 23 Jan 2023 09:53 AM (IST)
Ethereum price stood at $1,632.57 on Monday morning. ( Image Source : Getty )
Ethereum (ETH), arguably the most popular crypto coin after Bitcoin (BTC), managed to climb above the $1,600 mark since November 2022. The global market cap, which was enduring a bearish streak so far, rose above the $1 trillion mark over the weekend. BTC managed to hold steady within the $22,000 range. Other popular altcoins — including the likes of Dogecoin (DOGE), Solana (SOL), and Ripple (XRP) — saw a mix of dips and gains across the board. The Axie Infinity (AXS) token emerged to be the biggest gainer of the lot, with a 24-hour jump of over 44 percent.
The global crypto market cap stood at $1.04 trillion at the time of writing, registering a 24-hour gain of 0..69 percent.
Bitcoin price stood at $22,689.25, registering a 24-hour dip of 0.28 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 19.16 lakhs.
ETH price stood at $1,632.57, marking a 24-hour gain of 0.66 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.36 lakhs.
DOGE registered a 24-hour jump of 5.45 percent, as per CoinMarketCap data, currently priced at $0.08992. As per WazirX, Dogecoin price in India stood at Rs 7.56.
Litecoin saw a 24-hour loss of 0.42 percent. At the time of writing, it was trading at $88.07. LTC price in India stood at Rs 7,356.07.
XRP price stood at $0.4054, seeing a 24-hour gain of 0.22 percent. As per WazirX, Ripple price stood at Rs 34.16.
Solana price stood at $24.61, marking a 24-hour loss of 1.53 percent. As per WazirX, SOL price in India stood at Rs 2,050.
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Axie Infinity (AXS)
Price: $13.39
24-hour gain: 44.32 percent
STEPN (GMT)
Price: $0.5882
24-hour gain: 18.85 percent
Osmosis (OSMO)
Price: $0.9863
24-hour gain: 17.95 percent
NEAR Protocol (NEAR)
Price: $2.70
24-hour gain: 14.00 percent
Flow (FLOW)
Price: $1.20
24-hour gain: 13.88 percent
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
OKB (OKB)
Price: $36.26
24-hour loss: 4.83 percent
Kava (KAVA)
Price: $1.02
24-hour loss: 3.76 percent
Frax Share (FXS)
Price: $10.01
24-hour loss: 2.38 percent
Casper (CSPR)
Price: $0.03554
24-hour loss: 2.11 percent
Hedera (HBAR)
Price: $0.0699
24-hour loss: 1.87 percent
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin reached its highest level over the weekend in the last five months as bullish sentiment returned to the market. BTC rose above $22,900 after recovering from a recent drop to $20,000. However, it is currently trading at $22,722 with a slight decline. Support is now at $22,700, and resistance is at $22,900. If BTC can maintain its momentum, it may reach $23,000. This price increase is likely to keep bulls active in the market, potentially pushing prices higher.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “Bitcoin is currently valued at $22,588 and has seen a 2 percent decrease in the last 24 hours. CoinMarketCap lists it as the top-ranked cryptocurrency, with a market cap of $435 billion. Indicators suggest a potential bearish correction, with resistance at $22,830 and support at $21,500. On the upside, immediate resistance is at $22,800, and a break above this level can expose BTC to $23,900 and $25,150.”
Kunji founder Anurag Dixit offered his take, “The recent bankruptcy filing of Genesis, a cryptocurrency trading platform, has disclosed liabilities in the amount of $5.1 billion, making it one of the most significant in the history of the crypto industry. The impact of this event is not limited to just Genesis, as the parent company, Digital Currency Group (DCG), will also come under varied questioning. The management of the group may be subject to scrutiny and analysis in the wake of this development. In the short-term, the markets have factored in the impact of the bankruptcy, but it is advisable to exercise caution and closely monitor developments in the upcoming months.”
Shivam Thakral, the CEO of BuyUCoin, said, “The crypto market had an exciting weekend with BTC crossing the $23,000 mark for the first time in five months. The demand for BTC is mainly driven by institutional investors who are increasing their holdings in anticipation of the next bull run. Bitcoin has rallied by over 36 percent this month creating an extremely bullish sentiment around the world’s largest digital asset. The upcoming Fed meeting next month could be the next turning point in the crypto market.”
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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