Bitcoin (BTC) and Ethereum (ETH), two of the most popular cryptocurrencies, failed to impress as the coins remained static within the $26,000 and $1,800 range, respectively. Other popular altcoins — including the likes of Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — saw a mix of reds and greens across the board as most coins traded sideways early Friday. The SingularityNET (AGIX) token became the top gainer of the lot, with a 24-hour jump of nearly 8 percent.
The global crypto market cap stood at $1.11 trillion at the time of writing, registering a 24-hour gain of 0.66 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $26,385.55, registering a 24-hour gain of 0.48 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 23.21 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,804.77, marking a 24-hour jump of 1.32 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.60 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour gain of 0.25 percent, as per CoinMarketCap data, currently priced at $0.07057. As per WazirX, Dogecoin price in India stood at Rs 6.32.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour jump of 2.34 percent. At the time of writing, it was trading at $86.37. LTC price in India stood at Rs 7,699.
Ripple (XRP) Price Today
XRP price stood at $0.4633, seeing a 24-hour gain of 2.23 percent. As per WazirX, Ripple price stood at Rs 40.80.
Solana (SOL) Price Today
Solana price stood at $19.22, marking a 24-hour loss of 0.79 percent. As per WazirX, SOL price in India stood at Rs 1,760.
Top Crypto Gainers Today (May 26)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
24-hour gain: 7.99 percent
Render Token (RNDR)
24-hour gain: 4.43 percent
24-hour gain: 3.74 percent
24-hour gain: 3.25 percent
24-hour gain: 3.00 percent
Top Crypto Losers Today (May 26)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
24-hour loss: 3.46 percent
Axie Infinity (AXS)
24-hour loss: 3.34 percent
Lido DAO (LDO)
24-hour loss: 3.19 percent
24-hour loss: 3.17 percent
The Sandbox (SAND)
24-hour loss: 3.10 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Over the past 24 hours, Bitcoin has experienced a slight gain of over 1 percent and is currently trading at $26,400. This increase can be attributed to stronger-than-expected unemployment and productivity data. However, market investors are primarily focused on the ongoing negotiations surrounding the US debt ceiling, which continues to impact market sentiment. In terms of month-to-date performance, Bitcoin has seen a decline of 9 percent. Currently, Bitcoin faces immediate resistance at the $26,471 level. If the closing price approaches this level, further upward movement toward the $26,600 and $26,800 zones is possible. Conversely, Ethereum has managed to reclaim its position above the $1,800 level. However, if Ethereum’s price drops below this level, it may indicate a bearish market trend, leading to further downward movement in its value.”
CoinSwitch investment lead Parth Chaturvedi offered his take, “Crypto markets have traded sideways in the last 24 hours. Global crypto market capitalisation is at $1.16 trillion, up 1.4 percent since yesterday. The slight increase could be attributed to positive weekly unemployment data in the US. The crypto fear and greed index fell by 2 points since yesterday, but remains in the neutral zone with 49 points.”
WazirX Vice President Rajagopal Menon said, “Bitcoin’s market oscillators continue to indicate a Neutral sentiment. However, overall outflows in crypto went up in the last few days, reducing the market cap to $1.1 trillion. This is largely seen as an opportunity for traders to buy more assets. Bitcoin’s price movement however does not ignite optimism among experts.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “The looming US debt ceiling and expectations of interest rate hikes at the upcoming Federal Open Market Committee (FOMC) meeting are likely to have an impact on the cryptocurrency market. As of now, Bitcoin is trading at around $26,400, up 1 percent, while Ethereum is valued at $1,802, up 1.22 percent. Conversely, Binance Coin (BNB) is experiencing a slight decline to $303, down 0.4 percent. Litecoin (LTC) has seen a significant increase of 3 percent and is currently trading at $87. These market swings show the sensitivity of cryptocurrencies to macroeconomic factors and investor sentiment.”
Shivam Thakral, the CEO of BuyUCoin, said, “Bitcoin traded around $26,500 as investors overlooked unexpectedness positive jobs and productivity figures. The second-largest cryptocurrency by market value also traded in a narrow range, rising about 0.4 percent and moving slightly above $1,800. This demonstrates how people and organisations are actively participating in the current global financial revolution. As we navigate this constantly changing landscape, Bitcoin remains at the vanguard, influencing the future of finance. Until we see a resolution to this debt limit situation.”
CoinDCX Research Team told ABP Live, “The uncertain macroeconomic climate has contributed to a decline in the crypto market, fueled by concerns surrounding inflation, crypto regulations, and the ongoing debt ceiling stalemate. In a positive turn of events, Bitcoin’s sell-side risk ratio has reached an all-time low. This development indicates that investors have shown reluctance to sell their Bitcoins within the current price range, regardless of whether it would result in profit or loss. Such behaviour is typically observed when sellers on both ends become exhausted, signalling the potential for significant price movements on the horizon.”
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.