Cryptocurrency Price Today: The cryptocurrency market on Friday, August 5, remained largely flat but remained in green as major altcoins including Bitcoin, Ethereum, Solana and Dogecoin held their ground and surged slightly over the last 24 hours. The market sentiment has improved marginally over the past couple of days, aiding to the gain of the crypto market cap. The global cryptocurrency market cap surged 1.32 per cent over the past day to stand at $1.10 trillion at the time of writing this article, data showed. However, the trading volume decreased 3.54 per cent to $66.13 billion in the last 24 hours.
“Most cryptocurrencies faced a slight correction this week. Despite the minor decline, cryptocurrencies have recovered and stood firm without any sharp movements,” said Edul Patel, co-founder and CEO of Mudrex.
Bitcoin traded in green on the day and held the $23,000 mark as investors’ sentiment improved over the last few days. Bitcoin price today at the time of writing this article was $23,199.26, up by 0.02 per cent over the past 24 hours, data retrieved from CoinMarketCap showed. In the past seven days, Bitcoin prices have fallen by 2.87 per cent, contrary to the gains made over the preceding weeks.
“Bitcoin started the week trading above the US$23,000 level but fell to US$22,000 due to increasing pressure, US Central Bank’s latest interest rate hike, and ongoing tension between China and Taiwan. However, bulls could not succeed in recapturing the US$23,000 back,” Patel told News18.com.
“In the recent weeks, the BTC price has been on an uptrend making higher lows. The next key resistance level for BTC is expected at $32,300 and the next support is expected at $19,000,” said aspokesperson at WazirX trade desk.
Meanwhile, Ethereum stayed above the $1600 mark on Friday on improved sentiments. Ether price today jumped by 3.49 per cent at the time of writing in article to scale $1,722.15, showed data from CoinMarketCap. Over the past week, Ether prices have surged 0.46 per cent, the data further showed.
“The second largest cryptocurrency, Ethereum, fell to the US$1,500 level and again gained back the US$1,600 level. A continued rise could take the price to its resistance at the US$1,785 level soon,” further said Patel.
Here are the top 10 cryptocurrencies and their prices on August 5, 2022, Friday, (According to data from coinmarketcap.com)
Bitcoin $23,199.26 or 0.02 per cent gain in the last 24 hours
Ethereum $1,722.15 or 3.49 per cent gain in the last 24 hours
Tether $1.00 or 0.00 per cent gainin the last 24 hours
USD Coin $0.9998 or 0.02 per cent loss in the last 24 hours
BNB $314.9 or 0.88 per cent loss in the last 24 hours
XRP $0.3746 or 0.21 per cent loss in the last 24 hours
Binance USD $0.9999 or 0.01 per cent loss in the last 24 hours
Cardano $0.5177 or 1.33 per cent gain in the last 24 hours
Solana $40.38 or 0.64 per cent gain in the last 24 hours
Polkadot $8.78 or 4.17 per cent gain in the last 24 hours