CoinDCX News, Crypto News Global

Top Crypto Prices Today: Bitcoin Price holds at $24,000; Meme Coins Dogecoin & Shiba INU Rally upto 10%

Top Crypto Prices Today: Crypto Market Cap Sustains At $1.16 Trillion, Bitcoin Price At $24,100, Ethereum Near $1900, Dogecoin Biggest Gainer

Crypto market price action in the past 24 hours has been quite dull. No major upward or downward moves playing out in the market so far. The overall crypto market cap gained marginally and is currently trading around $1.16 trillion, up a little more than 1% over the past day. According to CoinMarketCap, the total crypto market volume over the last 24 hours is $63.66 billion, which makes a 16.30% decrease.

The total volume in DeFi is currently $5.09 billion7.99% of the total crypto market 24-hour volume. The volume of all stable coins is now $58.65 billion, which is 92.14% of the total crypto market 24-hour volume.

Check out latest Bitcoin INR Price , Chart, and Data.

Bitcoin price has managed to remain exactly where they were 24 hours ago. There was some correction seen in the latter half of yesterday but that was quickly recovered in the early hours of today to bring BTC prices back to status quo. Currently trading around $24,050, it is up about 0.1% from yesterday.

Ethereum price action however, has been slightly positive. Currently trading around $1920, it is up about 3% in the past 24 hours, bringing ETH prices back above another psychological region. If ETH prices are able to sustain and hold on to this level, we may see continued positive action, especially with the highly anticipated Ethereum Merge on the way later in September 2022.

Top Cryptos Today by Market Cap

Price action in the top 15 cryptos by market cap has also been slightly positive amongst some of the largest altcoins in the crypto market. The biggest gainer in this list includes Dogecoin (DOGE) price, which saw a massive 10% jump in the past 24 hours. This is becoming interesting, coming from the two largest memecoins in the market - both Shiba Inu and Dogecoin have been recovering steadily in the past couple of days. Even yesterday, which saw major cryptos in the red had both these memecoins managing to post gains despite bearishness around.

Other major gainers include the likes of Litecoin (LTC), Cardano (ADA) and XRP - all of which managed to gain between 4-7% in the past 24 hours.

Zooming out a bit, many coins out of the top 100 coins by CoinMarketCap posted significant gains in the past 24 hours too. EOS token saw a massive 29% rally in the past 24 hours. It was followed by the likes of Tezos (XTZ), and Dogecoin (DOGE) as mentioned earlier as some of the largest gainers. Other gainers include Quant (QNT), Bitcoin Cash (BCH) and several others.

A few tokens saw losses too, the biggest one being Chiliz (CHZ) which was the biggest gainer yesterday, on 16 August, 2022. Some of the other losers include Nexo, XDC Network, Convex Finance (CVX) and STEPN (GMT).

CRYPTO MARKET TODAY AT A GLANCE

Global crypto market cap $1.15 trillion
Rise/Fall in crypto market cap 0.43%
Global DeFi TVL $66.3 billion
Rise/Fall in DeFi TVL -1.8%
Bitcoin Price $24,100
Bitcoin Dominance 39.8%
Ethereum Price $1,920

TOP CRYPTO PRICES TODAY, 17TH  AUGUST, 2022:

CRYPTO COIN PRICE ($) PRICE (INR) % CHANGE (24-HOUR) MARKET CAP
EOS $1.63 ₹133.9 29.8% $1.6 BILLION
TEZOS (XTZ) $2 ₹170.2 11.3% $1.8 BILLION
DOGECOIN (DOGE) $0.087 ₹7.38 11% $11.5 BILLION
QUANT (QNT) $121.6 ₹9845 8% $1.4 BILLION
LITECOIN (LTC) $64.5 ₹5220 6.6% $4.5 BILLION
FILECOIN (FIL) $8.86 ₹740 7.2% $2.2 BILLION
ZCASH $77.4 ₹6301 6.1% $1.16 BILLION
CHILIZ (CHZ) $0.2 ₹17.3 -1.2% $1.2 BILLION
XDC NETWORK (XDC) $0.034 ₹2.08 -2% $425 MILLION
CONVEX FINANCE (CVX) $6.4 ₹508.2 -2.45% $426 MILLION

TOP CRYPTO NEWS TODAY

1. GOOGLE INVESTS OVER $1.5 BILLION IN BLOCKCHAIN COMPANIES SINCE SEPTEMBER 2021

A fresh new report by Blockdata on 17 August, has shown Google's parent company, Alphabet has gone out to invest the most amount of capital into the blockchain industry when compared to any other publicly listed company - having invested about $1.5 billion between September 2021 to June 2022.

2. RIPPLE PARTNERS WITH JAPAN'S SBI REMIT TO ENABLE CROSS-BORDER REAL TIME PAYMENTS

In a fresh new partnership, Ripple Labs as joined hands with Japan's SBI Remit to use RippleNet Technology to enable instant money transfers between Japan & Thailand. This partnership also brings Thailand's Siam Commercial Bank (SCB) into the fold, according to their recent press release.

3. CARDANO SEEING THE MOST POSITIVE SENTIMENT SINCE APRIL 2022

According to crypto analytic firm Santiment, Cardano has been seeing a surge in the positive sentiment across the board, especially when you take a look at its on-chain metrics, particularly the 'Ratio of Daily On-Chain Transaction Volume in Profit to Loss'. This is a metric that describes how much people are taking a profit versus the loss on the ADA token - and it has been at the highest levels since the final week of March and beginning of April.

 

GLOBAL CRYPTO MARKET OVERVIEW

Total Crypto Market Cap | Source: Tradingview

After having fallen below the trendline support (marked in blue) depicting the higher high, higher low price pattern on the charts - it looks like prices are trying to recover some of its lost ground once again. Another good positive day would bring it back above the trendline support and probably even into the accumulation zone (marked in grey).

And with the Relative Strength Index ranging around 62, we could see added support for an upward move too. If we see a successful breach into the territory above $1.2 trillion, we will see the formation of a decently strong support zone and thus have a higher probability of not falling down again. Most of the bad news in the market has already been discounted in the prices and hence there's no major reason to cause a fall for the foreseeable future.

BITCOIN PRICE TODAY

BTC/USD | Source: Tradingview

Bitcoin's price action has been very much in line with the overall crypto, but there is something interesting brewing in the king coin. Its market cap dominance for the first time in a very long time has dipped below 40%. The last time it had gone below 40% was back in January 2022. But today on 17 August, 2022 for the first time in nearly seven months, Bitcoin's market cap dominance has fallen to 39.8% and trending lower.

This indicates altcoins, primarily led by Ethereum are eating away at the giant market cap captured by the king coin and are quickly gaining stature. This becomes significant because even back in November 2021, when the market had its last all-time-highs, Bitcoin's market cap dominance was well over 45%. But now amid the recent recovery, Bitcoin touched sub-40% regions.

This indicates Bitcoin is probably losing out favour amongst investors as they have more confidence and a more risk-on attitude on smaller altcoins and want to invest in those altcoins.

CRYPTO MARKET: THE WEEK AHEAD

The week ahead for the crypto market now can be expected to continue to be moderately bullish. It will make higher highs and higher lows over a period of days and gradually trudge on upwards, and with seemingly Ethereum taking the lead in the rally this time around. So Ethereum investors have a lot to be excited about, especially with the upcoming Merge and the evident price appreciation that is happening ahead of the Ethereum Merge.

Prices as of 17th August, 2022


Disclaimer: The above views, information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational/ educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, digital assets/ cryptocurrencies or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

Share this Story

Check Also

Cardano Vasil Hard Fork Report Card: Has the Vasil Upgrade delivered as promised?

On the 22nd of September, the Cardano Vasil ...

GET ALL LATEST UPDATES ON YOUR EMAIL





    Categories

    Invest in Bitcoin, Ethereum, & other 200+ crypto assets.
    Download the app now, register & start with as low as Rs.100
    ios download link
    android download link
    qr code for download