As a researcher, I find today’s crypto market performance to be quite intriguing. The global market cap experienced a significant decrease of 0.66% from yesterday, while the total crypto market volume saw a notable dip of 19.59%. Bitcoin’s price struggled to maintain its position above $70K and instead dipped to $69.425.23 with a 0.77% decrease in value over the past day. Ethereum, XRP, DOGE, SHIB, and even Solana followed the same trend, primarily trading in the red.
As a researcher studying the cryptocurrency market, I’ve observed that today’s prices showed a noticeable lag in comparison to yesterday’s significant selloff. The global market cap dipped by 0.66%, settling at $2.58 trillion. Additionally, the total crypto market volume over the past 24 hours amounted to $98.22 billion, representing a substantial decrease of 19.59% compared to the previous day.
The price of Bitcoin had a hard time staying above the $70,000 threshold. In contrast, Ethereum predominantly saw declines in value. Similar trends were observed with XRP and popular meme coins Dogecoin and Shiba Inu. It’s worth noting that Solana experienced significant volatility, although its token generally moved upwards.
Here’s a look into the top cryptos and their prices today:
Top Crypto Prices Today
Bitcoin Price
On May 23rd, Bitcoin’s price chart showcased significant price fluctuations, currently sitting at $69.425.23, representing a minor decrease of 0.77% in the past 24 hours. The cryptocurrency reached its lowest and highest points during this period at $68,977.69 and $70,623.69 respectively.
The market value of the token decreased by 0.75%, amounting to $1.36 trillion, while its 24-hour trading activity saw a significant drop of 21.80%, resulting in $31.86 billion in total transactions.
Ethereum Price
Over the last 24 hours, Ethereum (ETH) experienced a decrease of 1.15% in value and is now priced at $3,762. The crypto’s lowest point during this period was $3,655.08, while its highest was $3,810.95.
In the last 24 hours, ETH‘s market capitalization decreased by 1.08%, amounting to $452.16 billion, while its trading volume experienced a significant drop of 26.33%, resulting in $24.71 billion in total transactions.
Solana Price
In contrast, Solana’s price rose by 0.88% in the last 24 hours, hitting a new mark at $178.68. Despite the volatile trend of SOL, it has maintained a positive growth. The lowest and highest prices recorded within this period were $175.45 and $183.07 respectively. Simultaneously, the trading volume decreased by 7.19% to reach $3.77 billion.
XRP Price
In the last 24 hours, the value of the token supported by Ripple Labs dipped by 1.36%, settling at a price of $0.5281. Its lowest and highest points during this period were $0.5237 and $0.5377, respectively. Additionally, the token’s trading volume saw a significant decrease of 34.56% to reach a total of $1.18 billion.
Cardano Price
The price of ADA experienced a decrease of 1.56% over the last 24 hours, now being sold at $0.4855. Its lowest and highest points during this period were $0.4761 and $0.4924 respectively, indicating a narrow trading range. The volume of trades in the past 24 hours dropped by 16.47%, reaching a total of $407.36 million.
DOGE & SHIB In The Red
In the previous 24 hours, Dogecoin, the top meme coin by market capitalization, experienced a decline of 2.43%, reaching a price of $0.1667. On the other hand, Shiba Inu saw a drop of 3.34%, causing its price to fall to $0.00002536.
Further, even Pepe coin (PEPE) drained 4.65% in value to $0.00001353.
Top Crypto Gainers Today
The price of Bittensor (TAO) increased by 8.01%, reaching a new price point of $455.24.
Top Crypto Losers Today
Core (CORE) price plunged 6.62% to $1.69 over the past day.
Lido DAO (LDO) price plummeted 6.16% to $2.08 over the past day.
The price of Floki Inu (FLOKI) noted a pullback, dipping 5.63% to $0.0002242 during the same time period.
Pepe coin (PEPE), as mentioned above, is also one of the top losers.
Examining the one-hour chart, it’s clear that Bitcoin’s price has been unable to make substantial gains, with little upward momentum. In contrast, Ethereum, Solana, Ripple, Dogecoin, and Shiba Inu experienced slight increases in their prices, ranging from 0% to 0.5%.
Today, May 23rd, marks the deadline for Ethereum ETF approval. Consequently, the Ethereum market may experience heightened volatility, potentially driving price fluctuations in both directions.
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2024-05-23 07:49