The global market capitalization of cryptocurrencies fell to around $1.02 trillion early Wednesday as most of the top coins fell in the red across the board. While Bitcoin (BTC) managed to stay stable in the $22,000 range, Ethereum (ETH) lost the $1,600 mark. Prices for other popular altcoins including Dogecoin (DOGE), Solana (SOL), Litecoin (LTC), and Ripple (XRP) have fallen. The Threshold (T) token managed to lead the gains with a 24-hour jump of more than 13 percent.
The global cryptocurrency market capitalization at the time of writing was $1.02 trillion, indicating a 24-hour gain of 3.22 percent.
Bitcoin (BTC) price today
The price of bitcoin was $22,685.72, recording a 24-hour drop of 1.81 percent, according to CoinMarketCap. According to the Indian exchange WazirX, the price of BTC was 19.30 lakh.
Ethereum (ETH) price today
The price of ETH was $1549.38, which at the time of writing meant a loss of 5.43% in 24 hours. According to WazirX, the price of Ethereum in India was 1.33 lakh.
Dogecoin (DOGE) price today
DOGE recorded a 6.25% loss in 24 hours, according to data from CoinMarketCap, currently at $0.08428. According to WazirX, the price of Dogecoin in India was Rs 7.29.
Litecoin (LTC) price today
Litecoin lost 3.61% in 24 hours. At the time of writing, it is trading at $87.77. The price of LTC in India was Rs 7450.
Ripple (XRP) price today
The price of XRP was $0.4052, down 4.03 percent in 24 hours. According to WazirX, the price of Ripple was Rs 34.16.
Solana (SOL) price today
Solana was priced at $23, representing a 7.51% loss in 24 hours. According to WazirX, the price of SOL in India was Rs 2010.
Crypto Winning Leaders Today (January 25th)
According to CoinMarketCap, here are the top five cryptocurrencies in the past 24 hours:
Threshold (T)
Price: $0.05011
24-hour gain: 13.65 percent
Quantum (QNT)
Price: $154.02
24-hour gain: 6.23 percent
UNUS SED LEO (LEO)
Price: $3.48
24-hour gain: 1.27 percent
USDD (USD)
Price: $0.9859
24-hour gain: 0.18 percent
Dai (DAI)
Price: $1.00
24-hour gain: 0.04 percent
Biggest Crypto Losers Today (January 25th)
According to CoinMarketCap, here are the five biggest crypto losers in the past 24 hours:
Flow (FLOW)
Price: $1.07
24-hour loss: 13.20 percent
Optimism (OP)
Price: $2.01
24-hour loss: 11.92 percent
Chiles (CZ)
Price: $0.1331
24-hour loss: 10.60 percent
Rocket pool (RPL)
Price: $36.79
24-hour loss: 10.26 percent
EthereumPoW (ETHW)
Price: $3.71
24-hour loss: 10.12 percent
What crypto exchanges say about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live: “Major cryptocurrencies have declined over the past 24 hours ahead of Thursday’s US GDP data and Friday’s consumer sentiment data. Bitcoin is currently trading at $22,500. Right now, support is at $22,450 and resistance is at $22,600. On the other hand, Ethereum has also slowed down and is trading at $1,500. A potential break above the $1,600 level could boost bulls' confidence.”
- Satvik Vishwanath, C, EO and co-founder of Unocoin, said: “Bitcoin is currently facing resistance at $23,250 with support at $22,500. A drop below $22,500 could indicate a bearish correction to $21,500 or even $20,450. Technical indicators suggest bullish continuation with immediate resistance at $23,250 and upside potential to $23,900 and $25,150.”
- Kunji Founder Anurag Dixit expressed his opinion: “The regulatory environment for cryptocurrencies is rapidly evolving, with more stringent oversight measures in place in many jurisdictions. However, Europe is taking a more progressive yet flexible approach through the proposed MiCA (Crypto Asset Market) legislation. This approach is indicative of an innovative and far-sighted attitude of the EU, similar to that seen in previous technological cycles. As a developed country, the EU’s cryptocurrency policy can serve as a valuable indicator of potential regulation in other countries such as India. However, it should be noted that there can be significant differences due to demographic differences.”
Shivam Thakral, CEO of BuyUCoin, said: “The total cryptocurrency market capitalization has declined by 3 percent, but still holds above the critical $1 trillion mark. Bitcoin, the world’s largest digital asset, appears to have found strong support at $22,000 as selling pressure eased on favorable macro factors. The market is expected to remain stable as investors wait and see for the next US Fed meeting in February.”
Denial of responsibility: Crypto products and NFTs are not regulated and can be very risky. There may be no regulatory remedies for losses from such transactions. Cryptocurrency is not legal tender and is subject to market risks. Readers are advised to seek expert advice and read the proposal document(s) carefully, along with relevant important literature on the subject, before making any investment. Cryptocurrency market forecasts are speculative and any investment should be made solely at the expense and risk of readers.