On September 11, 2023, the global cryptocurrency market witnessed a decrease in market capitalization, with it dropping down to $1.03 trillion. In this cryptocurrency update, we will delve into the recent price movements of some of the major cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, Ripple, Litecoin, and Solana.
Bitcoin Dips Below $26,000
A gloomy outlook on the market
Over the weekend, Bitcoin (BTC), the world’s oldest and most valuable cryptocurrency, saw its price dip below the $26,000 mark. This decline in Bitcoin’s price is attributed to reports indicating that crypto lender FTX is looking to liquidate crypto assets worth $3.3 billion. This news has fueled a ‘sell’ sentiment among investors.
Altcoins in the Red
Popular altcoins follow suit
Alongside Bitcoin, several other popular altcoins, including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL), also experienced losses during this period. The entire cryptocurrency market faced a bearish trend.
Stellar (XLM) Emerges as the Biggest Gainer
Stellar shines amidst the red
Despite the overall market downturn, Stellar (XLM) managed to stand out as the biggest gainer, with a 24-hour price surge of over 3 percent. On the other hand, the memecoin Pepe (PEPE) emerged as the biggest loser, with a 24-hour dip of approximately 8 percent.
Individual Cryptocurrency Prices
BTC price and its 24-hour performance
Bitcoin was trading at $25,719.69 at the time of reporting, marking a 24-hour dip of 0.52 percent.
ETH price and its 24-hour performance
Ethereum (ETH) was priced at $1,608.83, showing a 24-hour loss of 1.29 percent.
DOGE price and its 24-hour performance
Dogecoin (DOGE) registered a 24-hour dip of 2.83 percent, with its current price standing at $0.06118.
LTC price and its 24-hour performance
Litecoin (LTC) saw a 24-hour loss of 2.41 percent and was trading at $61.25.
XRP price and its 24-hour performance
Ripple (XRP) was priced at $0.4961, marking a 24-hour dip of 1.07 percent.
SOL price and its 24-hour performance
Solana (SOL) stood at $18.35, showing a 24-hour loss of 4.32 percent.
Top Crypto Gainers and Losers
Top Crypto Gainers Today (September 11)
The top-performing cryptocurrencies in the past 24 hours
According to CoinMarketCap data, the top five crypto gainers over the past 24 hours were:
- Stellar (XLM) – Price: $0.134, 24-hour gain: 3.08 percent
- Render (RNDR) – Price: $1.51, 24-hour gain: 1.81 percent
- Injective (INJ) – Price: $6.67, 24-hour gain: 0.53 percent
- UNUS SED LEO (LEO) – Price: $3.84, 24-hour gain: 0.42 percent
- Monero (XMR) – Price: $143.25, 24-hour gain: 0.18 percent
Top Crypto Losers Today (September 11)
Cryptocurrencies that experienced losses in the past 24 hours
According to CoinMarketCap data, the top five crypto losers over the past 24 hours were:
- Pepe (PEPE) – Price: $0.0000007054, 24-hour loss: 8.94 percent
- ApeCoin (APE) – Price: $1.21, 24-hour loss: 7.54 percent
- Arbitrum (ARB) – Price: $0.834, 24-hour loss: 6.45 percent
- Gala (GALA) – Price: $0.01483, 24-hour loss: 6.19 percent
- Sui (SUI) – Price: $0.451, 24-hour loss: 5.71 percent
Insights from Crypto Exchanges
Expert opinions on the current market scenario
Leading figures from the cryptocurrency industry shared their insights on the current market situation:
- Mudrex co-founder and CEO Edul Patel highlighted Bitcoin’s struggle to maintain its price above $25,700, while also discussing Ethereum’s performance.
- Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, commented on the overall market sentiment and the potential impact of FTX’s crypto asset liquidation.
- Rajagopal Menon, Vice President of WazirX, discussed the emphasis on transparency in crypto markets and expressed concerns about FTX’s impending asset sell-off.
- Sathvik Vishwanath, CEO and co-founder of Unocoin, analyzed Bitcoin’s price trends, including support and resistance levels.
- Shivam Thakral, the CEO of BuyUCoin, mentioned the pending FTX asset liquidation as a potential market influencer.
It’s essential to remember that cryptocurrency investments are speculative and unregulated, carrying inherent risks. Readers are advised to seek expert advice and thoroughly review relevant documents before making any investments in cryptocurrencies. Cryptocurrency market predictions should be treated as speculative, and any investments made are at the reader’s sole risk.
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