Ethereum (ETH) managed to climb above the $1,600 mark on early Thursday morning. Bitcoin (BTC) — the world’s oldest crypto — managed to remain stable within the $23,000 range. Other popular altcoins — including the likes of Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — managed to land in the greens across the board. The Optimism (OP) token emerged to be the biggest gainer, with a 24-hour jump of over 21 percent. UNUS SED LEO (LEO), on the other hand, became the top loser, with a 24-hour dip of over 6 percent.
The global crypto market cap stood at $1.09 trillion at the time of writing, registering a minor 24-hour gain of 4.02 percent.
Bitcoin (BTC) price today
Bitcoin price stood at $23,895.41, registering a 24-hour gain of 3.24 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 20 lakhs.
Ethereum (ETH) price today
ETH price stood at $1,674.69, marking a 24-hour jump of 5.69 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.39 lakhs.
Dogecoin (DOGE) price today
DOGE registered a 24-hour gain of 1.86 percent, as per CoinMarketCap data, currently priced at $0.09429. As per WazirX, Dogecoin price in India stood at Rs 7.90.
Litecoin (LTC) price today
Litecoin saw a 24-hour gain of 4.35 percent. At the time of writing, it was trading at $101.09. LTC price in India stood at Rs 8,375.33.
Ripple (XRP) price today
XRP price stood at $0.4136, seeing a 24-hour gain of 2.25 percent. As per WazirX, Ripple price stood at Rs 34.24.
Solana (SOL) price today
Solana price stood at $25.36, marking a 24-hour gain of 6.05 percent. As per WazirX, SOL price in India stood at Rs 2,100.14.
Top crypto gainers today (February 2)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
24-hour gain: 21.46 percent
24-hour gain: 18.57 percent
24-hour gain: 16.59 percent
24-hour gain: 14.47 percent
24-hour gain: 13.99 percent
Top crypto losers today (February 2)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
UNUS SED LEO (LEO)
24-hour loss: 6.82 percent
24-hour loss: 1.91 percent
Trust Wallet Token (TWT)
24-hour loss: 1.72 percent
24-hour loss: 0.02 percent
What crypto exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “After the US Federal Reserve’s expected 25 basis point interest rate hike, Bitcoin and Ethereum traded marginally higher on Wednesday. This, along with Fed Chair Jerome Powell’s remarks about declining inflation in the US, has instilled confidence in market participants. Bitcoin traded above $23,900, following a dip to $22,874 the previous day. If the bullish trend continues, there may be a rise toward $24,000 and then $25,000. Meanwhile, Ethereum broke through the $1,600 mark, with support at that level and resistance at $1,700.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “The Federal Reserve raised the benchmark interest rate by 25 basis points to a target range of 4.5-4.75 percent. They reiterated that ongoing rate increases would be appropriate. Inflation has moderated somewhat but remains high. Bitcoin’s 50-day moving average has formed support at $23,000 on the 4-hour time frame, and a potential drop below that level could see the price drop to $22,600 or even $22,350, potentially triggering a bullish reversal.”
Kunji founder Anurag Dixit offered his take, “The cryptocurrency market and technology indices experienced a temporary setback earlier in the week, however, the Federal Reserve’s announcement of a rate hike, as anticipated marked in at 25 bps. This, coupled with the cautious and neutral tone of the accompanying commentary, created a favourable atmosphere for both the crypto and tech sectors to recover slightly. The Federal Reserve’s statement emphasized their close monitoring of all relevant data and market conditions and affirmed their readiness to take prompt action as deemed necessary.”
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.
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