Cryptocurrency Price Today: Bitcoin Tops $62,000, Solana Joins Ether and Tether in Loss

The overall cryptocurrency chart showed that the market is rather flat today. Bitcoin posted a small gain of 1.28% on Wednesday, May 29th. With this, Bitcoin is currently trading at $68,768 (around Rs. 57.2 lakh) on foreign exchanges like CoinMarketCap. Meanwhile, on domestic exchanges like WazirX, CoinDCX, and CoinSwitch, Bitcoin is trading around the price of $71,770 (approximately Rs. 59.7 lakh). Market analysts have predicted that the upcoming US Q GDP announcement could induce more volatility in the market in the coming days.

“The cryptocurrency market has been volatile due to the news of Mt. Gox moving BTC, causing many altcoins to crash. Bitcoin’s near-term price action appears uncertain, although it remains strong and bullish in the “higher time frame,” CoinDCX told Gadgets360.

Ether showed a price decline of 1.42% according to Gadgets360 cryptocurrency price chart. At the time of writing, Ether was trading at $3,861 (around Rs. 3.21 lakh) according to CoinMarketCap. The price of Ether is expected to see a surge in the coming days, following the approval of ETH ETFs in the United States.

“As spot Ether ETFs approach the launch within the next couple of months, Ethereum bulls are reasserting their dominance. Daily trading volumes for Ethereum also saw a substantial increase, rising by 68% to nearly $17 billion (approximately Rs. 1,41,554 crore). This renewed bullish sentiment appears to be driven by the anticipation of the ETF launch, indicating that investors are positioning themselves for potential further gains in the near future,” trade desk ZebPay told Gadgets360.

On the price chart on Wednesday, more cryptocurrencies posted small gains than losses. Binance coin, Ripple, Dogemoneta, Shiba Inu, Cardano, Avalanche, Bitcoin wrapped, TronAND Close to the protocol – all have found their way to the profit side of the cryptocurrency chart.

Small gains were also seen by Leo, Cosmos, Stellar, Bitcoin SVAND EOS coin.

Over the past 24 hours, the total market capitalization of the cryptocurrency sector increased by 1.70%. With this, its capitalization has reached $2.58 trillion (approximately Rs. 2,14,83,982 crore).

Bind, Solana, Polka dot, Polygon, LitecoinAND Chrono has emerged on the losing side of the cryptocurrency chart.

“The cryptocurrency market remained volatile, with BTC and ETH witnessing marginal fluctuations in their prices. The market is expected to remain volatile in the coming weeks due to uncertain macroeconomic conditions,” Shivam Thakral, CEO of BuyUcoin, told Gadgets360.

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