Investment
Today’s (August 28) cryptocurrency price: Notcoin rises to the top gainer as Bitcoin falls below $60,000.
Quick analysis of cryptocurrency prices on August 28: The market value increased to $2.25 trillion globally.
The oldest and most valuable cryptocurrency in the world, Bitcoin (BTC), fell below $60,000 early on Wednesday. According to CoinMarketCap statistics, several well-known altcoins, including as Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC), all received negative ratings overall. The Market Fear & Greed Index as a whole was 47 (Neutral) out of 100. With a surge of more than 1 percent in a single day, the Notcoin (NOT) token turned out to be the largest gainer of all. SATS (1000SATS) saw the largest decline, falling almost 13 percent in a single day.
At the time of writing, the value of the entire cryptocurrency market was $2.09 trillion, a decrease of 5.49 percent in a day.
Current Bitcoin (BTC) Price
According to CoinMarketCap, the price of bitcoin was $59,394.50, representing a 5.83 percent decrease over the course of a day. Indian markets reported that the price of bitcoin was Rs 53.65 lakh.
Ethereum (ETH) Current Price
At the time of writing, the price of ETH was $2,472.96, down 8.01 percent in the previous 24 hours. In India, the price of ether was Rs 2.30 lakh.
Dogecoin’s (DOGE) Current Price
According to CoinMarketCap data, DOGE saw a 6.09 percent 24-hour decline, with a current price of $0.09943. In India, the price of Dogecoin was Rs 9.15.
Current Litecoin (LTC) Price
Litecoin lost 4.11 percent in a day. As of writing, its trade price was $60.84. The cost of LTC was Rs 5,394.71 in India.
Current Ripple (XRP) Price
The price of XRP was $0.5687 after falling 4.21 percent in a day. In India, ripple was valued as Rs 50.18.
Solana (SOL) Current Price
The price of Solana was $147.62, a decrease of 7.02 percent in a day. The cost of SOL was Rs 13,330.33 in India.
Top Cryptocurrency Gainers for August 28th
The top five cryptocurrency gainers during the last 24 hours, according to CoinMarketCap data, are as follows:
Notcoin (NOT)
Cost: $0.008753
Gain in a day: 1.14 percent
UNUS SED LEO
Cost: $5.84
Gain in a day: 0.36 percent
Popcat (POPCAT) (SOL)
Cost: $0.7117
Gain in a day: 0.34 percent
APT (Aptos)
Cost: $7.24
Gain in a day: 2.99 percent
Floki (FLOKI)
Cost: 0.0001524 dollars
Gain in a day: 2.70 percent
Top Cryptocurrency Losers as of August 28
The top five cryptocurrency losers over the last 24 hours, according to CoinMarketCap data, are as follows:
1000SATS, or SATS
Cost: $0.000319
Within a day: 12.90 percent
Sui (SUI)
Cost: $0.8379
Loss in a day: 12.51 percent
Fantom (FTM)
Cost: $0.4417
In a 24-hour period, 12.22%
dogwifhat (WIF)
Cost: $1.58
Loss in a day: 12.12 percent
Worldcoin (WLD)
Cost: $1.51
Loss in a day: 11.55 percent
Cryptocurrency Exchanges’ Remarks Regarding the Present Market Situation
“Bitcoin is settling below the $60,000 barrier as investors take profits and liquidate positions,” co-founder and CEO of Mudrex Edul Patel said on ABP Live. With a current price of approximately $59,000, Bitcoin faces resistance at $60,300 and important support at $58,800. Major IT firms Autodesk is expected to report tomorrow, while Nvidia, CrowdStrike, Salesforce, and HP are planned to reveal their earnings today. Market players will be keeping a close eye on these earnings reports because they have the ability to affect the overall sentiment of the market and the movement of Bitcoin’s price.
“During a major crypto market sell-off, Bitcoin (BTC) tumbled to $58,000, and Ethereum (ETH) also dropped below the $2,500 barrier,” as reported by CoinSwitch Markets Desk. The $2 trillion total market capitalization of cryptocurrencies found support, providing a short-lived reprieve for bulls. Long positions worth more than $300 million were liquidated, but no obvious cause for the decline could be found.
“The cryptocurrency market saw a major collapse, followed by a 5.5% decline in Bitcoin’s price below $60,000 within 24 hours,” stated Avinash Shekhar, Co-Founder & CEO of Pi42. Over 87,000 traders were affected by the wave of liquidations that followed, with losses totaling more than $320 million. Ethereum experienced a 7.8% decrease as well, hitting below $2,500. Although August is typically a quiet month for cryptocurrency, the market has been incredibly turbulent this year. The fact that Bitcoin’s current price range is still within the range of its April levels, however, raises the possibility that the recent drop was only a short blip in a larger upswing.
“The crypto market dropped by over 5% in the last 24 hours, with no specific news causing the sell-off,” the CoinDCX Research Team said to ABP Live. Investors may be expecting unfavorable outcomes from this week’s impending macro data releases, which include the PCE Index and U.S. GDP statistics, which could be the cause of the decrease. That being said, this might all be conjecture. The technical bearishness of the charts had already contributed to the coins’ decline.
“Over the past day, there has been a substantial downturn in the cryptocurrency market,” stated BuyUcoin CEO Shivam Thakral. “Bitcoin has fallen below $60,000, and Ether has dropped about 7%.” The main reason for this decline was a wave of liquidations totaling more than $300 million, which was caused by a broad market crisis and investor concern. Despite this setback, there is still optimism for the immediate future because of strong fundamentals and enduring institutional interest in cryptocurrencies.
