Bitcoin (BTC), the oldest and most valued crypto in the world, failed to rise above the $24,000 mark over the weekend. Ethereum (ETH), on the other hand, managed to remain stable within the $1,600 range. Other popular altcoins — including the likes of Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — saw a mix of reds and greens across the board. The NEO 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 $1.08 trillion at the time of writing, registering a 24-hour gain of 1.64 percent.
Bitcoin (BTC) price today
Bitcoin price stood at $23,583.32, registering a 24-hour gain of 1.55 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 20.43 lakhs.
Ethereum (ETH) price today
ETH price stood at $1,641.79, marking a 24-hour gain of 2.43 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.41 lakhs.
Dogecoin (DOGE) price today
DOGE registered a 24-hour gain of 0.92 percent, as per CoinMarketCap data, currently priced at $0.08205. As per WazirX, Dogecoin price in India stood at Rs 7.25.
Litecoin (LTC) price today
Litecoin saw a 24-hour loss of 1.46 percent. At the time of writing, it was trading at $94.95. LTC price in India stood at Rs 8,290.
Ripple (XRP) price today
XRP price stood at $0.3765, seeing a 24-hour loss of 0.56 percent. As per WazirX, Ripple price stood at Rs 32.80.
Solana (SOL) price today
Solana price stood at $23.04, marking a 24-hour gain of 1.66 percent. As per WazirX, SOL price in India stood at Rs 2,071.
Top crypto gainers today (February 27)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
24-hour gain: 11.04 percent
24-hour gain: 9.31 percent
24-hour gain: 7.63 percent
24-hour gain: 6.81 percent
24-hour gain: 5.63 percent
Top crypto losers today (February 27)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
24-hour loss: 2.10 percent
1inch Network (1INCH)
24-hour loss: 2.02 percent
24-hour loss: 1.56 percent
24-hour loss: 0.44 percent
Theta Network (THETA)
24-hour loss: 0.29 percent
What crypto exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Most cryptocurrencies showed signs of recovery over the weekend by gaining a decent value after witnessing a drop the last week due to investors’ worry about inflation. Bitcoin is currently trading at the $23,500 level. If Bitcoin can continue its upward trend, it may face resistance at the $25,000 and $30,000 levels, with support currently sitting at $23,300.”
WazirX Vice President Rajagopal Menon said, “Bitcoin and Ethereum prices have slightly increased in the past 24 hours. According to analysts, the market’s bullish sentiment towards these tokens is actually defying the fundamentals on which their price should be based. Crypto leaders in the US are pushing for a firmer lobbying mechanism against the SEC’s recent crackdown on major crypto companies. This is expected to influence leaders to create a better ecosystem for crypto’s growth and tackle its latest setbacks.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “Bitcoin price is currently at $23,756 with a 24-hour trading volume of $16.93 billion and is up 1.37 percent in the last 24 hours. The 3-day chart shows an 18 percent rise after a bounce from the bullish breaker, indicating a short-term bullish trend. However, the last three weeks of price action suggest a bearish outlook and the best time to short BTC would be after the recent swing high of $25,211.”
Kunji founder Anurag Dixit offered his take, “The current official commentary from officials suggests that India will adopt a global approach to regulate cryptocurrency based on a synthesis paper by the FSB and IMF, following discussions during the G20 meetings about the impact of crypto on financial stability and consumer protection. The paper is expected to be released in September and will provide guidance on regulatory approaches to crypto assets. Policymakers, including Canada, have emphasised the need for careful consideration before implementing regulations even after having a highly regulated cryptocurrency industry flourishing there. This points towards the fear policymakers have towards a competition between crypto and the national currencies.”
Shivam Thakral, the CEO of BuyUCoin, said, “The crypto market remained flat with BTC and Ether showing a marginal jump of 1-2 percent in their value. BTC failed to find strong support at the $25,000 level which suggests that BTC buying went overboard and resulted in a pullback. The US consumer confidence data for February will be released soon and will have a significant impact on the financial markets in the coming weeks. The outcome of the G20 meet around crypto regulations is also an awaited event within the crypto community.”
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.
Thisa rticle was orognally published by News Abplive.