Bitcoin (BTC) and Ethereum (ETH) — two of the most valued crypto coins — managed to rise above the $29,000 and $18,00 marks, respectively, on early Friday morning. Other popular altcoins — including the likes of Dogecoin (DOGE), and Litecoin (LTC) — landed in the negative as overall prices saw minor losses across the board. Casper (CSPR) emerged to be the biggest gainer, seeing a 24-hour jump of over 3.04 per cent. Sui (SUI), on the other hand, turned out to be the biggest loser.
At the time of writing, the global crypto market cap stood at $1.20 trillion, registering a 24-hour gain of 0.14 per cent.
Bitcoin (BTC) price today
Bitcoin price stood at $29,266.13 seeing a 24-hour gain of 0.62 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 25.45 lakhs.
Ethereum (ETH) price today
ETH price stood at $1,899.59, marking a 24-hour loss of 0.13 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.65 lakhs.
Dogecoin (DOGE) price today
DOGE registered a 24-hour loss of 0.73 percent as per CoinMarketCap data, currently priced at $0.07884. As per WazirX, Dogecoin price in India stood at Rs 6.8698.
Litecoin (LTC) price today
Litecoin saw a 24-hour loss of 1.18 percent. At the time of writing, it was trading at $88.34. LTC price in India stood at Rs 7,567.23.
Ripple (XRP) price today
XRP price stood at $0.4643, seeing a 24-hour gain of 0.10 percent. As per WazirX, Ripple price stood at Rs 40.0021.
Solana (SOL) price today
Solana price stood at $22.00, marking a 24-hour loss of 1.26 percent. As per WazirX, SOL price in India stood at Rs 1,930.00.
Top crypto gainers today (May 5)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Casper (CSPR)
Price: $0.06165
24-hour gain: 3.04 percent
Internet Computer (ICP)
Price: $6.00
24-hour gain: 2.69 percent
Toncoin (TON)
Price: $2.09
24-hour gain: 1.94 percent
Trust Wallet Token (TWT)
Price: $1.18
24-hour gain: 1.82 percent
Kava (KAVA)
Price: $0.7898
24-hour gain: 1.69 percent
Top crypto losers today (May 5)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Sui (SUI)
Price: $1.27
24-hour loss: 9.58 percent
Stacks (STX)
Price: $0.7526
24-hour loss: 5.45 percent
Optimism (OP)
Price: $2.04
24-hour loss: 4.82 percent
Injective (INJ)
Price: $7.43
24-hour loss: 4.56 percent
Mina (MINA)
Price: $0.6222
24-hour loss: 4.51 percent
What Crypto Exchanges Are Saying On Present Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin fluctuated between US$28,700 and US$29,000 on Thursday, but after the Federal Reserve announced an interest rate increase, the cryptocurrency saw a steady uptick, with bullish trends apparent. Currently, BTC is supported at US$28,800 and faces resistance at US$29,420. In contrast, Ethereum remained stable at US$1,900 during the last 24 hours. Investors are closely monitoring the U.S. employment data set to release today.”
WazirX Vice President Rajagopal Menon said, “Crypto markets remain in a state of confusion as Bitcoin stays near $29,000 while investors assess recent central bank interest rate increases and ongoing bank crises. Data from CryptoQuant shows high selling pressure but also a high Coinbase and Korean premium, suggesting strong buying demand. On WazirX, Orchid (OXT) and Bakery Token (BAKE) have been the top gainers in the last 24 hours.”
BuyUcoin CEO and India’s second-longest-running digital asset exchange Shivam Thakral said, “The crypto market quickly recovered from the latest rate hike of 25 basis points announced by the Fed. BTC is holding strong above the $29,000 mark while Ether is almost touching the $1900 level at the time of writing. The crypto market is witnessing restricted growth due to high inflation and other macroeconomic factors and the Jobs data on Friday will act as a key stimulant for the market momentum.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “Bitcoin is currently trading at $29,286 while other major cryptocurrencies like BNB and ETH are trading at around $326 and $1,900 respectively. The crypto market remains in a consolidation phase as economic risks and the likelihood of a short-term Fed rate cut cycle increase. US Treasury markets are taking note, and if yields continue to trend downward, cryptocurrencies like Bitcoin could benefit from safe-haven demand as investors look for hard money alternatives to fiat currencies. Despite uncertainty about the global economic outlook, the potential for a short-term bitcoin price pump remains high.”
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.
