Cryptocurrency Price Today: Ethereum Rises Above $1,600, Bitcoin Fails to Gain Steam

Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, failed to rise above the $23,000 mark on early Wednesday morning. However, Ethereum (ETH), the second most valued crypto, showed signs of life as its value rose above the $1,600 mark. Other popular crypto coins, including the likes of Solana (SOL) and Dogecoin (DOGE) showed a mixed performance, with minor dips and gains across the board. On the other hand, among lesser-known altcoins, the Chiliz (CHZ) token turned out to be the biggest loser over the past 24 hours, after being the biggest gainer yesterday, reflecting the incredible volatility of the crypto market. 

At the time of writing, the global crypto market cap stood at $1.06 trillion as per CoinMarketCap data, registering a 24-hour gain of 0.74 percent. 

Bitcoin (BTC) price today

At the time of writing, BTC was priced at $22,859.06. As per CoinMarketCap, Bitcoin saw a 24-hour dip of 0.01 percent. As per Indian exchange WazirX, BTC price stood at Rs 19.05 lakhs.

Ethereum (ETH) price today

With a 24-hour gain of 2.59 percent, ETH price stood at $1,618.98. As per WazirX, Ethereum price in India stood at Rs 1.36 lakhs.

Dogecoin (DOGE) price today

DOGE saw a 24-hour gain of 0.64 percent as per CoinMarketCap data, currently priced at $0.06648. As per WazirX, Dogecoin price in India stood at Rs 5.68.

Litecoin (LTC) price today

Litecoin registered a gain of 0.28 percent over the past 24 hours. At the time of writing, it was priced at $57.43. LTC price in India stood at Rs 4,796.

Ripple (XRP) price today

XRP price stood at $0.3681, seeing a 24-hour loss of 0.896 percent. As per WazirX, Ripple price stood at Rs 30.20.

Solana (SOL) price today

Solana price stood at $38.46, marking a 24-hour loss of 4.31 percent. As per WazirX, SOL price in India stood at Rs 3,286.

Top crypto gainers today (August 3)

As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:

Optimism (OP)

Price: $1.68
24-hour gain: 22.51 percent

Lido DAO (LDO)

Price: $2.24
24-hour gain: 17.90 percent

Synthetix (SNX)

Price: $3.83
24-hour gain: 13.83 percent

Bitcoin Gold (BTG)

Price: $29.87
24-hour gain: 11.46 percent

Ethereum Classic (ETC)

Price: $36.38
24-hour gain: 11.33

Top crypto losers today (August 3)

As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:

Chiliz (CHZ)

Price: $0.1343
24-hour loss: 11.11 percent

Hedera (HBAR)

Price: $0.07095
24-hour loss: 5.61 percent

Theta Network (THETA)

Price: $1.35
24-hour loss: 5.30 percent

UNUS SED LEO (LEO)

Price: $5.01
24-hour loss: 4.52 percent

Solana (SOL)

Price: $38.51
24-hour loss: 4.49 percent

What crypto exchanges are saying about the current market scenario

Edul Patel, the CEO and Co-Founder of Mudrex, told ABP Live, “Bitcoin slipped below the $23,000 level in the past 24 hours as it battles with selling pressure. However, since BTC has been trading sideways this week, it might be able to extend its gains soon. The second largest cryptocurrency, Ethereum, has bounced off its support level at $1,500 and is trading above the $1,600 level. Amid sustained buying, a decisive move above $1,700 may bring more gains.”

Commenting on the crypto market scenario, Sathvik Vishwanath, CEO and Co-Founder of crypto exchange Unocoin told ABP Live, “Tuesday saw mixed market reactions when it comes to crypto. While most of them ended up in green, the tokens related to NFT and metaverse markets did see a slight correction of 1-2 percent. The ones that ended up in green were not always positive for the whole day but just entered the zone in the closing hours, showing up to a 1-2 percent increase in prices. On the other side, the market depth for BUY orders is not deep enough to even let this small increase sustain for longer and the correction may happen soon.”

FiEx Founder and CEO Tushar Gandotra told ABP Live, “The $24,000 resistance zone was significantly above where the price of bitcoin began a steady drop. Price dropped under $23,500 and $23,250, entering a short-term bearish zone. Below the 100-hourly simple moving average, the drop accelerated. It even tried to cross over the level of the crucial gain from the $20,695 swing low to the $24,671 high using a Fibonacci retracement of 50 percent. Under the $23,200 mark and the 100-hourly simple moving average, the price is currently struggling.”

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.

This news is republished from another source. You can check the original article here.

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