Global cryptocurrency markets traded in the red on Thursday.
Cryptocurrency price today, August 18: Today's Bitcoin price at the time of writing this article is $23,501.79, down 1.14% in the last 24 hours.
Cryptocurrency prices today: Cryptocurrency markets recorded gains on Thursday, August 18, thanks to last week's altcoin rally. A slight correction was also witnessed in the market, with major cryptocurrencies including Bitcoin, Ethereum, Solana Dogecoin, etc. falling nearly 5% in the last 24 hours. This comes after recent Federal Reserve minutes failed to provide clarity on the latest interest rate hikes.
According to data, at the time of writing this article, the global cryptocurrency market capitalization was $1.12 trillion, down 1.76% in the last 24 hours. On the other hand, trading volume decreased by 6.31% during the day to $64.55 billion.
“Over the past 24 hours, we have seen some degree of profit booking across the cryptocurrency spectrum. This profit booking was expected after a rapid altcoin-driven rally over the past week. As soon as the market falls, we see an increase in trading volume. This confirms the overall market sentiment. We can expect the market to remain range-bound for the next few days,” said Edul Patel, CEO and co-founder of Mudrex.
Bitcoin traded in the red on this day and briefly fell below the $23,500 level. The price of Bitcoin today at the time of writing this article is $23,501.79, down 1.14% in the last 24 hours, data retrieved from CoinMarketCap shows. Over the past seven days, the Bitcoin price has fallen 3.81%, a reversal of the upward trend over the past few weeks.
On the other hand, today's Ethereum price fell 1.51% to $1,852.74 at the time of writing. According to data from CoinMarketCap. Data also showed that the price of Ethereum surged 0.46% last week.
“Cryptocurrency markets opened the week on a promising note, with giants like Bitcoin and Ethereum briefly reaching $25,000 and $2,000 due to the momentum built over the weekend, according to calculated shares. Meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB) have witnessed double-digit growth in the past week due to euphoria over the upcoming Ethereum Merge,” said Shivam Thakral, CEO of BuyUcoin, a domestic cryptocurrency exchange.
“Macroeconomic factors surrounding financial markets appear positive and the growth momentum of cryptocurrency assets is expected to continue in the coming weeks,” he added.
Here are the top 10 cryptocurrencies and their prices for Thursday, August 18, 2022. (Based on coinmarketcap.com data)
Bitcoin lost $23,501.79 or 1.14% in the last 24 hours.
Ethereum $1,852.74 or a loss of 1.51% in the last 24 hours.
Tether lost $1.00 or 0.01% in the last 24 hours.
USD Coin $0.9999 or 0.01% profit in last 24 hours
BNB $308.96 or a loss of 1.65% in the last 24 hours.
XRP $0.3763 or 0.21% return in last 24 hours
Binance USD $1.00 or 0.00% profit in the last 24 hours
Cardano lost $0.5414 or 2.37% in the last 24 hours.
Solana lost $41.19 or 3.68% in the last 24 hours.
Dogecoin $0.08115 or 3.27% return in last 24 hours
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