Bitcoin (BTC) – the world’s oldest and most valued cryptocurrency – remained below the $27,000 mark on Friday, while Ethereum (ETH) remained relatively stable within the $1,800 range. Other popular altcoins, such as Dogecoin (DOGE), Ripple (XRP), Solana (SOL) and Litecoin (LTC), experienced a mix of dips and gains. The Injective (INJ) token was the biggest gainer of the lot, with a 24-hour jump of over 8 percent, while XDC became the biggest loser with a 24-hour dip of over 5 percent.
The global crypto market cap was at $1.14 trillion at the time of writing, registering a 24-hour gain of 0.84 percent.
Price of Bitcoin (BTC)
Bitcoin price stood at $26,950.44, registering a 24-hour jump of 0.59 percent, as per CoinMarketCap. According to Indian exchange WazirX, its price was at Rs 23.69 lakh.
Price of Ethereum (ETH)
ETH price stood at $1,876.47, marking a 24-hour jump of 1.15 percent at the time of writing. As per WazirX, Ethereum price in India was at Rs 1.66 lakh.
Price of Dogecoin (DOGE)
DOGE registered a 24-hour gain of 0.97 percent, as per CoinMarketCap data, and was priced at $0.07189. Its price in India was Rs 6.33, as per WazirX.
Price of Litecoin (LTC)
Litecoin saw a 24-hour jump of 5.01 percent. At the time of writing, it was trading at $94.95. Its price in India was Rs 8,150.
Price of Ripple (XRP)
XRP price stood at $0.516, seeing a 24-hour gain of 1.57 percent. As per WazirX, Ripple price was Rs 45.30.
Price of Solana (SOL)
Solana price stood at $20.74, marking a 24-hour dip of 0.13 percent. As per WazirX, SOL price in India was Rs 1,805.02.
Top Crypto Gainers Today (June 2)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
• Injective (INJ): Price – $7.67; 24-hour gain – 8.77 percent
• The Sandbox (SAND): Price – $0.5581; 24-hour gain – 5.86 percent
• Litecoin (LTC): Price – $94.99; 24-hour gain – 5.51 percent
• Filecoin (FIL): Price – $4.91; 24-hour gain – 5.41 percent
• WOO Network (WOO): Price – $0.2274; 24-hour gain – 4.46 percent
Top Crypto Losers Today (June 2)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
• XDC Network (XDC): Price – $0.3625; 24-hour loss – 5.39 percent
• The Graph (GRT): Price – $0.1277; 24-hour loss – 3.75 percent
• GateToken (GT): Price – $4.35; 24-hour loss – 3.63 percent
• Sui (SUI): Price – $0.9246; 24-hour loss – 3.29 percent
• Toncoin (TON): Price – $1.78; 24-hour loss – 2.22 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel said that in the past 24 hours, Bitcoin traded near the $26,900 level as investors awaited the release of the US non-farm payroll data. The price of BTC has grown by over 60 percent since January, peaking around $31,000 in mid-April, however, recent concerns regarding inflation and the US debt ceiling have caused BTC to trade within a range of $26,000 to $28,000 in the past few weeks. The immediate support level for BTC stands at $26,500, while resistance is at $27,200. Meanwhile, Ethereum is currently being traded at approximately $1,870.
Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, stated that all top 10 cryptos by market capitalization are currently trading in the green. BTC, trading around $27,000, is up ~0.7 percent in the last 24 hours. ETH has outperformed BTC with a ~1.6 percent gain since yesterday and now trades around $1,900. Meanwhile, Tether’s USDT has regained its previous all-time high market capitalization despite a shrinking stablecoin market.
Rajagopal Menon, Vice President of WazirX, commented that Bitcoin has displayed remarkable resilience in the face of the US House’s decision to pass a debt ceiling increase, which guarantees short-term payment of government expenses. On WazirX, Celo (CELO) and MOBOX (MBOX) have been the top gainers in the last 24 hours.
Sathvik Vishwanath, CEO and co-founder of Unocoin, said that Bitcoin is showing slightly bearish sentiment and is hovering around $26,900. It hit the 78.6 percent Fibonacci retracement level in the 4-hour time frame and fell towards the next support level at $26,500. IOTA is consolidating around the 0.5 Fib level at $0.2000 with 20-day and 50-day EMA support. LTC is showing increased volume, indicating strong buying interest, and is currently trading around $95.13, up 5 percent. Ethereum price today is $1,876.94, up 1.20 percent in the last 24 hours.
Shivam Thakral, the CEO of BuyUCoin, said that the global crypto market cap is $1.14T, representing a 1.12 percent increase over the past day. The total crypto market volume in the last 24 hours amounted to $29.64 billion, indicating a decrease of 15.48 percent. Bitcoin’s dominance currently stands at 45.95 percent, reflecting a decrease of 0.08 percent over the day. The global crypto market has experienced a slight increase in its overall market cap, indicating a positive trend. However, the market volume has witnessed a significant decrease of 15.48 percent over the past day, suggesting lower trading activity during this period.
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.
