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Cryptocurrency prices today: Bitcoin falls while ether, dogecoin Shiba Inu gain

05 Aug , 2022   By : Kanchan Joshi

Cryptocurrency prices today: Bitcoin falls while ether, dogecoin Shiba Inu gain

Cryptocurrencies prices today were mixed with Bitcoin trading below the $23,000 mark. The world's largest and most popular cryptocurrency Bitcoin was trading nearly a per cent lower at $22,971. The global crypto market cap today was above the $1 trillion mark, as it was almost flat in the last 24 hours at $1.12 trillion, as per CoinGecko.

On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, rose marginally to $1,657. Meanwhile, dogecoin price today was trading more than a per cent higher at $0.06 whereas Shiba Inu gained 0.5% to $0.000012.

Other crypto prices' today performance were mixed as XRP, Solana, BNB, Litecoin, Chainlink, Tether, Polkadot, Tron, Avalanche, Uniswap, Polygon prices were trading with gains over the last 24 hours while Stellar, Apecoin slipped.

"Despite BTC dropping to US$22,000, bulls still have the upper hand in the market. BTC’s current support is US$20,000, while resistance is US$23,000. We may see BTC regain its US$23,000 level soon. On the other hand, the second largest cryptocurrency, Ethereum, is slowly gearing up and accumulating power to make a move. A continued rise is likely if the price today returns to the US$1,700 level," said Edul Patel, CEO and Co-founder of Global Crypto Investment Platform Mudrex.

One of the world’s largest derivatives exchange owners is forging ahead into the cryptocurrency market with two new futures offerings. CME Group Inc. will introduce Bitcoin and Ether Euro futures on August 29, 2022. The crypto futures market is dominated by CME Group and Cboe Global Markets Inc., which announced plans to enter the Bitcoin futures market in early 2017 before CME.

The U.S. Bankruptcy Court in New York has given crypto firm Voyager Digital Holdings Inc the approval to return $270 million in customer cash, the Wall Street Journal reported on Thursday.

Crypto lenders like Voyager boomed during the COVID-19 pandemic, drawing depositors with high interest rates and easy access to loans rarely offered by traditional banks. However, the recent slump in crypto markets - sparked by the downfall of two major tokens in May - has hurt lenders.

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