As India celebrates Holi on Wednesday, red seems to be the most dominant colour on crypto price charts as top coins fail to impress amid the ongoing market slump. Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, remained within the $22,000 range. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), and Solana (SOL) — saw a mix of reds and greens across the board. The Bone ShibaSwap (BONE) token emerged to be the biggest gainer of the lot, with a 24-hour jump of over 11 percent.
The global crypto market cap stood at $1.02 trillion at the time of writing, registering a 24-hour dip of 1.14 percent.
Bitcoin (BTC) price today
Bitcoin price stood at $22,181.51, registering a 24-hour dip of 1.32 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 19.25 lakhs.
Ethereum (ETH) price today
ETH price stood at $1,562.83, marking a 24-hour loss of 0.80 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.37 lakhs.
Dogecoin (DOGE) price today
DOGE registered a 24-hour dip of 2.30 percent, as per CoinMarketCap data, currently priced at $0.0738. As per WazirX, Dogecoin price in India stood at Rs 6.50.
Litecoin (LTC) price today
Litecoin saw a 24-hour dip of 2.27 percent. At the time of writing, it was trading at $85.82. LTC price in India stood at Rs 7,500.69.
Ripple (XRP) price today
XRP price stood at $0.3795, seeing a 24-hour gain of 2.76 percent. As per WazirX, Ripple price stood at Rs 32.71.
Solana (SOL) price today
Solana price stood at $20.02, marking a 24-hour dip of 3.69 percent. As per WazirX, SOL price in India stood at Rs 1,844.11.
Top crypto gainers today (March 8)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Bone ShibaSwap (BONE)
24-hour gain: 11.55 percent
24-hour gain: 6.60 percent
24-hour gain: 6.10 percent
24-hour gain: 3.57 percent
24-hour gain: 2.96 percent
Top crypto losers today (March 8)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
24-hour loss: 10.70 percent
24-hour loss: 8.98 percent
24-hour loss: 7.71 percent
24-hour loss: 7.24 percent
24-hour loss: 7.16 percent
What crypto exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Within the past 24 hours, most cryptocurrencies declined due to the comments made by US Fed Chair Jerome Powell on interest rate hikes. Bitcoin is currently trading between $22,230 and $22,247. If it falls below this range, the next level of support can be found at $19,000. Ethereum is also experiencing a similar trend following Bitcoin’s lead. Currently valued at $1,555, the next level of ETH support is $1,450. Traders and investors may need some time to process Powell’s hawkish comments and the uncertainties surrounding Silvergate Bank.”
Kunji founder Anurag Dixit offered his take, “Bitcoin edged above $22,000 again after Fed Chair Powell’s comments caused concern among investors and led to a selloff in traditional markets. However, Bitcoin showed resilience. The crypto industry is facing fierce challenges in the short term and macro uncertainty fueling it slightly from time to time. But cryptocurrencies have also shown noticeable decoupling for some medium time frame.”
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.