Cryptocurrency Price Today: Driven by an altcoin rally last week, the cryptocurrency market on Thursday, August 18, witnessed a profit booking. A slight correction in the market was also witnessed, as major cryptocurrencies including Bitcoin, Ethereum, Solana Dogecoin and others dipped by nearly 5 per cent in the last 24 hours. This came after the minutes of the recent Fed meeting did not provide clarity on the recent rate hike.
The global crypto market cap at the time of writing this article was standing at $1.12 trillion, down by 1.76 per cent in the past 24 hours, as per data. On the other hand, trading volumes saw a 6.31 per cent decrease over the day as it stood at $64.55 billion.
“Over the past 24 hours, we saw some amount of profit booking across the cryptocurrency spectrum. This profit booking was expected after a quick altcoin-driven rally over the past week. As soon as the market dipped, we witnessed a rise in trading volumes. It confirms the overall market sentiment. We can expect the market to remain range-bound for the coming couple of days,” said Edul Patel, CEO and co-founder of Mudrex.
Bitcoin traded in red on the day and fell below the $23,500 mark briefly. Bitcoin price today at the time of writing this article was $23,501.79, down by 1.14 per cent over the past 24 hours, data retrieved from CoinMarketCap showed. In the past seven days, Bitcoin prices have fallen by 3.81 per cent, contrary to the gains made over the preceding weeks.
On the other hand, Ether price today dipped by 1.51 per cent at the time of writing in article to scale $1,852.74, showed data from CoinMarketCap. Over the past week, Ether prices have surged 0.46 per cent, the data further showed.
“The crypto market opened the week on a promising note as the momentum built over the weekend propelled heavyweights like Bitcoin and Ether in-brief touching $25,000 and $2,000 according to the calculated share. The meme coins like DOGE (Dogecoin) and SHIB (Shiba Inu) have witnessed double-digit growth in the past week owing to the euphoria around the upcoming Ethereum Merge,” said Shivam Thakral, CEO at BuyUcoin, a homegrown cryptocurrency exchange
“The macroeconomic factors surrounding the financial markets look positive and the growth momentum of crypto assets is expected sustain in the coming weeks,” he added.
Here are the top 10 cryptocurrencies and their prices on August 18, 2022, Thursday, (According to data from coinmarketcap.com)
Bitcoin $23,501.79 or 1.14 per cent loss in the last 24 hours
Ethereum $1,852.74 or 1.51 per cent loss in the last 24 hours
Tether $1.00 or 0.01 per cent loss in the last 24 hours
USD Coin $0.9999 or 0.01 per cent gain in the last 24 hours
BNB $308.96 or 1.65 per cent loss in the last 24 hours
XRP $0.3763 or 0.21 per cent gain in the last 24 hours
Binance USD $1.00 or 0.00 per cent gain in the last 24 hours
Cardano $0.5414 or 2.37 per cent loss in the last 24 hours
Solana $41.19 or 3.68 per cent loss in the last 24 hours
Dogecoin $0.08115 or 3.27 per cent gain in the last 24 hours
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