Cryptocurrency price today: On Friday, August 5, the cryptocurrency market was largely flat but remained in the green as major altcoins including Bitcoin, Ethereum, Solana and Dodgecoin held their ground and rose slightly over the past 24 hours. Market sentiment has improved marginally over the past few days, helping the crypto market cap. The data shows that at the time of writing this article, the global cryptocurrency market cap increased by 1.32% to $1.10 trillion yesterday. However, trading volume decreased by 3.54% to $66.13 billion in the last 24 hours.
“Most cryptocurrencies faced a minor correction this week. Despite minor dips, cryptocurrencies have recovered without any sharp movement and are standing strong,” said Adol Patel, co-founder and CEO of Mudrex.
Bitcoin traded in the green on the day and reached the $23,000 mark as investor sentiment improved over the past few days. At the time of writing, bitcoin was trading at $23,199.26 today, up 0.02 percent over the past 24 hours, data from CoinMarketCap shows. Over the past seven days, Bitcoin prices have fallen 2.87%, reversing gains made in previous weeks.
Bitcoin started the week’s trade above the US$23,000 level but fell to US$22,000 amid mounting pressure, the US central bank’s latest interest rate hike, and ongoing tensions between China and Taiwan. . However, the bulls were not able to recover the US$23,000,” Patel told News18.com.
“In recent weeks, the price of BTC has increased due to higher lows. The next key resistance level for BTC is expected at $32,300 and the next support is expected at $19,000,” Minister X Trade Desk K The spokesman said.
Meanwhile, Ethereum held above the $1600 mark on Friday on improved sentiment. The price of Ether rose 3.49 percent to $1,722.15 at the time of writing today, according to data from CoinMarketCap. Over the past week, Ether prices have increased by 0.46%, the data further shows.
“The second largest cryptocurrency, Ethereum, fell to the US$1,500 level and bounced back to the US$1,600 level. A sustained rally could take the price to the US$1,785 level soon,” added Patel.
Here are the top 10 cryptocurrencies and their prices as of Friday, August 5, 2022 (according to data from coinmarketcap.com).
Bitcoin is up $23,199.26 or 0.02% in the last 24 hours
Ethereum is up $1,722.15 or 3.49% in the last 24 hours
Add $1.00 or 0.00% in the last 24 hours.
USD Coin lost $0.9998 or 0.02 percent in the last 24 hours
BNB lost $314.9 or 0.88% in the last 24 hours
XRP $0.3746 or a loss of 0.21% in the last 24 hours
Binance lost USD $0.9999 or 0.01% in the last 24 hours
Cardano traded up $0.5177 or 1.33% in the last 24 hours.
Solana gained $40.38 or 0.64% in the last 24 hours.
Polkadot traded up $8.78 or 4.17% in the last 24 hours.
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