Crypto Prices Today May 1: Bitcoin & Ethereum Lose Over 5%, Cosmos Shines Amid Crash

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As an experienced analyst, I believe that today’s massive crypto price crash is a stark reminder of the volatility and unpredictability of this asset class. The recent launches of the Hong Kong Bitcoin ETF and other positive news seemed to have little impact on the market as investors rushed to exit their positions.

As an analyst, I’ve observed a significant decline in the prices of top cryptocurrencies today. The Bitcoin (BTC) price took a nosedive and dropped to $60,000 levels, despite the recent launch of the Hong Kong Bitcoin ETF. Similarly, Ethereum (ETH) dipped below the crucial $3,000 mark, adding to the downward trend. Other notable altcoins, including Solana (SOL), XRP, and Cardano (ADA), also experienced substantial price drops, echoing this market correction.

Major Crypto Prices Today

1. Bitcoin Price

As a researcher studying the cryptocurrency market, I’ve observed that the price of Bitcoin took a significant hit, plummeting by 5.13% to reach $60,191.06 on May 1, Wednesday. Simultaneously, the trading volume experienced a notable surge, increasing by an impressive 41.71% to a substantial $37.91 billion in the preceding 24 hours. However, it’s important to mention that despite this surge in trading activity, Bitcoin’s market capitalization saw a decrease, dropping to $1.18 trillion.

2. Ethereum Price

At the moment of reporting, Ethereum’s price decreased by 5.46% to hit $2,999.10, and its market capitalization amounted to an impressive $365.74 billion. Simultaneously, ETH‘s trading volume experienced a substantial increase of 29.66%, peaking at $17.99 billion.

3. Solana Price

The Solana price remained below the $140 threshold today, dropping by 0.28% to reach a new price of $135.72. On the flip side, there was a significant surge in SOL‘s trading volume, amounting to a 20.11% increase, with a total volume of $2.45 billion recorded within the last 24 hours.

4. XRP Price

During the market bounceback, the XRP price broke through the $0.51 barrier and registered a 1.62% increase, hitting $0.5161. Simultaneously, XRP’s trading volume experienced a significant surge of 55.79%, amounting to $1.10 billion.

5. Cardano Price

As a crypto investor, I’ve noticed that Cardano’s price has risen by 0.07% today, reaching $0.4554. Simultaneously, the trading volume of ADA has experienced a significant surge of 10.59%, amounting to a total of $297.09 million.

6. Dogecoin & Shiba Inu Price

I analyzed the cryptocurrency market trends and noticed that Dogecoin’s price declined by 1.24%, dropping to $0.1428. On the other hand, Shiba Inu showed a slight increase of 0.14% and was trading at $0.00002397.

Top Crypto Gainers Today

    Cosmos (ATM): The Cosmos crypto surged 5.43% and traded at $8.56.
    Optimism (OP): The OP crypto price rallied 2.52% to $2.58.
    Starknet (STRK): The Starknet crypto price was up 2.22% and was valued at $1.24.
    Tron (TRX): The TRX crypto price rose 0.45% to $0.1201.

Top Crypto Losers Today

    Arweave (AR): The AR price plummeted 17.25% to $29.74.
    Stacks (STX): The STX price plunged 15.01% to $2.04.
    Sei (SEI): The Sei price witnessed a dip of 11.75% to $0.542.
    Lido DAO (LDO): The LDO crypto slumped 11.43% to $1.90.

In the past 24 hours, no other cryptocurrency managed to make it onto the list of top performers due to a surprising downturn in the market. Additionally, significant crypto liquidations, totaling millions of dollars, may have contributed to this recent market decline.

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2024-05-01 08:14