CRYPTOCURRENCY PRICE TODAY: BITCOIN, ETHEREUM DOWN 2% EACH IN LAST 24 HOURS - CHECK SUPPORT AND RESISTANCE
Cryptocurrency Price Today: Bitcoin price fell on Wednesday as the world's largest cryptocurrency erased the rebound seen in the last few sessions. According to data rooted from CoinMarketCap, Bitcoin has dropped below $63,000-mark.
In the last 24 hours, Bitcoin has cracked 2 per cent. At 2:15 PM, Bircoin was seen trading at $62,306. The volume has also declined significantly in the last 24 hours, down more than 17 per cent.
Bitcoin commanded a market cap of $1,227,596,031,313, as per CoinMarketCap.
Ethereum, which has emerged as one of prominent cryptocurrencies in the world and second only to Bitcoin, traded lowed by nearly 3 per cent at $2,980. It commanded a market cap of $358,153,117,939.
According to CoinSwitch Markets Desk, markets kept hitting lower for the second day in a row after BTC failed to cross the $65k mark a couple of days back. The next immediate line of support for BTC stays around the $62,000 mark, which if breached, could take the price back to the recent lows of $57,000.
Meanwhile, Ethereum L2 Arbitrum has achieved a significant feat with the total traded volume on Uniswap hitting $150 billion and becoming the only layer 2 to do so. Arbitrum also has the largest TVL among all L2 solutions.
The crypto market is currently under pressure over more regulatory scrutiny. The prices have also been under pressured due to uncertainty over US interest rates, after several Federal Reserve officials hinted that policy rates are unlikely to come down in the near future.
A recent report has revealed that more than 90 per cent of transactions in stablecoins were inorganic and not from real users. This has raised concerns over how much retail demand there was for crypto in actual. Stablecoins are an important aspect of crypto trade.
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2024-05-08T10:56:46Z dg43tfdfdgfd