As India celebrates Holi on Wednesday, red appears to be the most dominant color on cryptocurrency price charts as major coins fail to impress amid the ongoing market crash. Bitcoin (BTC), the world's oldest and most valuable cryptocurrency, remained within the $22,000 range. Other popular altcoins, including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), and Solana (SOL), saw a mix of reds and greens across the board. The Bone ShibaSwap (BONE) token turned out to be the biggest gainer of the lot, jumping more than 11 percent in 24 hours.
The global crypto market capitalization stood at $1.02 trillion at the time of writing, recording a 24-hour drop of 1.14%.
Bitcoin (BTC) price today
The Bitcoin price stood at $22,181.51, recording a 24-hour drop of 1.32 percent, according to CoinMarketCap. According to the Indian exchange WazirX, the price of BTC stood at Rs 19.25 lakhs.
Ethereum (ETH) price today
ETH price sat at $1,562.83, marking a 24-hour loss of 0.80 percent at the time of writing. According to WazirX, the Ethereum price in India stood at Rs 1.37 lakhs.
Dogecoin (DOGE) price today
DOGE posted a 2.30 percent drop in 24 hours, according to data from CoinMarketCap, currently trading at $0.0738. According to WazirX, the Dogecoin price in India was Rs 6.50.
Litecoin (LTC) price today
Litecoin experienced a 2.27 percent drop in 24 hours. At the time of writing, it was trading at $85.82. The LTC price in India stood at Rs 7,500.69.
Ripple Price (XRP) Today
XRP price stood at $0.3795, with a gain of 2.76 percent in 24 hours. According to WazirX, the Ripple price stood at Rs 32.71.
Solana (SOL) price today
Solana's price stood at $20.02, representing a 3.69 percent drop in 24 hours. According to WazirX, the SOL price in India was Rs 1,844.11.
Top cryptocurrency gainers today (March 8)
Based on CoinMarketCap data, here are the top five cryptocurrency gainers in the last 24 hours:
ShibaSwap Bone (BONE)
Price: $1.72
24 hour profit: 11.55 percent
Conflux (CFX)
Price: $0.2188
24 hour gain: 6.60 percent
ssv.red (SSV)
Price: $41.38
24 hour gain: 6.10 percent
ImmutableX (IMX)
Price: $1.13
24 hour gain: 3.57 percent
Ripple (XRP)
Price: $0.3793
24 hour gain: 2.96 percent
Top crypto losers today (March 8)
Based on CoinMarketCap data, here are the top five cryptocurrency losers in the last 24 hours:
Batteries (STX)
Price: $0.6618
Loss of 24 hours: 10.70 percent
United Nations (UN)
Price: $43.67
Loss of 24 hours: 8.98 percent
SingularityNET (AGIX)
Price: $0.4085
Loss of 24 hours: 7.71 percent
Neo (NEO)
Price: $11.25
Loss of 24 hours: 7.24 percent
Synthetix (SNX)
Price: $2.89
Loss of 24 hours: 7.16 percent
What crypto exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live: โOver the past 24 hours, most cryptocurrencies have declined due to comments made by US Federal Reserve Chairman Jerome Powell, about interest rate rises. Bitcoin is currently trading between $22,230 and $22,247. If it falls below this range, the next level of support can be found at $19,000. Ethereum is also experiencing a similar trend following the example of Bitcoin. Currently valued at $1,555, the next level of ETH support is at $1,450. Traders and investors may need some time to process Powell's aggressive comments and the uncertainties surrounding Silvergate Bank."
Kunji founder Anurag Dixit offered his take: โBitcoin broke above $22,000 again after Fed Chairman Powell's comments caused concern among investors and triggered a sell-off in traditional markets. However, Bitcoin showed resistance. The crypto industry faces fierce short-term challenges and is fed slightly by macro uncertainty from time to time. But cryptocurrencies have also shown noticeable decoupling over the medium period of time."
Disclaimer: Crypto products and NFTs are unregulated and can be very risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not legal tender and is subject to market risk. Readers are advised to seek expert advice and carefully read the offering documents along with relevant relevant literature before making any type of investment. cryptocurrency market predictions are speculative and any investment made will be at the sole risk and account of the readers.
