Crypto Price Today: Bitcoin, Ether See Profits, Dogecoin Hit With Losses Alongside Shiba Inu, Solana

Crypto Price Today: Bitcoin, Ether See Profits, Dogecoin Hit With Losses Alongside Shiba Inu, Solana/Pixabay

Dil Bar Irshad | May 27, 2024 | 05:02 PM IST | Breaking News | Follow on Google News

Crypto Price Today: Bitcoin, Ether See Profits, Dogecoin Hit With Losses Alongside Shiba Inu, Solana

Crypto Price Today: Bitcoin, Ether See Profits, Dogecoin Hit With Losses Alongside Shiba Inu, Solana

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Bitcoin on Monday, May 27 saw a minor gain of around one percent. At the time of writing BTC was trading at the price point of $72,034 (roughly Rs. 59.8 lakh) on Indian exchanges like WazirX. Internationally however, Bitcoin is trading at a slightly lower price point of $68,772 (roughly Rs. 57 lakh). As per Market analysts, BTC displayed a neutral performance on the price chart after the US approved ETFs for Ether last week on May 24.

Ether outperformed Bitcoin in terms of profit-making over the weekend. The second most precious cryptocurrency after BTC, ETH is presently trading at $3,911 (roughly Rs. 3.24 lakh) on foreign exchanges after seeing a price hike of 2.54 percent. On Indian exchanges, meanwhile, ETH is hovering over the price point of 4,128 (roughly Rs. 3.42 lakh).

“ETH has posted its highest weekly return, mainly due to the ETH ETF approval. Many expected a sell-off after the approval news, but ETH remained stable, which is a positive sign. The ETH ETF approval is bullish for ETH in the long term. To signal a strong upswing, ETH needs to clear the key level of $4,000 (roughly Rs. 3 lakh).

Joining BTC and ETH on the green side of the crypto chart on Monday are Tether, Binance Coin, Cardano, Polkadot, Uniswap, and Cosmos.

The overall crypto market cap rose by 0.68 percent in the last 24 hours. The present crypto market cap stands at $2.58 trillion (roughly Rs. 2,14,27,183 crore), as per CoinMarketCap. The dominance of Bitcoin and Ether as of Monday, stands at 52.5 percent and 18.3 percent respectively.

Despite the momentum that the crypto sector has seen post ETH ETF approvals in the US, some altcoins did get hit by losses over the weekend. These include Solana and Ripple.

Dogecoin and Shiba Inu are back in losses after seeing a minor spike on May 24 that was logged because Elon Musk tweeted about the passing of Kabosu, the dog that inspired both these tokens.

Dil Bar Irshad

Dil Bar Irshad is a seasoned journalist, hails from Jammu Kashmir's Doda, covers political, social, business stories, index stories.