Cryptocurrency Prices Today in India (May 4, 2022): Global crypto market cap decreased by 0.50% in the last 24 hours to $1.73 trillion, according to CoinMarketCap data on Wednesday (1.26 pm). Most of the top 10 crypto prices decreased in the last 24 hours while the global cryptocurrency market volume over the last 24 hours decreased by 12.52% to $74.20 billion. The total volume in DeFi was $7.7 billion, which is 10.48% of the total crypto market 24-hour volume. Stable coins volume was $63.34 billion, which is 85.36% of the total crypto market 24-hour volume.
The Bitcoin markets retraced and was priced above $38,000. Bitcoin’s dominance as top crypto asset remains unchanged over the last day at around 42.25%. The most popular crypto asset was selling at $38459 at the time of writing this. The overall Bitcoin price has decreased by 0.64% in the last 7 days. In the last 24 hours, Bitcoin price increased by just 0.26%.
Bitcoin price movement was more or less flat over the past 24 hours, indicating indecision from traders. “Market participants will most likely expect the price volatility to continue into the rest of the week as the FED approaches its decision on the May interest hike,” , Darshan Bathija, CEO and Co-Founder of Vauld told FE Online.
Meanwhile, all eyes are on the Federal Open Market Committee (FOMC) meeting today, which may result in an interest rate hike by 50 basis points. “Usually, a hike in interest rates could negatively impact the Crypto and equities markets as investors are more cautious. Bitcoin’s current high correlation to the equities market means that the digital asset may face selling pressure in the market,” said Bathija.
Both Bitcoin and Ethereum have been trading in a sharp range for over a month now. While Bitcoin price has been between $38,000 – $42,000, ETH price has been between $2,800 – $3,200. Both cryptos are flirting with the lower bound of their respective ranges.
Top Crypto Prices
Prices of several other top 10 crypto assets have decreased in the last 24 hours. Take a look:
Ethereum (ETH): Ethereum price decreased by 0.57% to $2829 in the last 24 hours. In the last 7 days, ETH price has decreased by 1.91%. It is currently ranked second largest crypto asset in terms of market capitalisation.
Binance (BNB): Binance coin’s price increased by 0.07% to $390 in the last 24 hours. In the last 7 days, BNB price has decreased by 1%. It is currently ranked as fourth biggest crypto asset in terms of market capitalisation.
XRP: XRP coin’s price decreased by 0.61% to $0.6157 in the last 24 hours. In the last 7 days, XRP price has decreased by 6.82%. It is currently ranked as 6th biggest crypto asset in terms of market capitalisation.
Solana (SOL): Solana price decreased by 1.08% to $90.28 in the last 24 hours. In the last 7 days, SOL price has decreased by 12.07%. It is currently ranked as 7th biggest crypto asset in terms of market capitalisation.
Cardano (ADA): Cardano token’s price increased by 0.93% to $0.7941 In the last 24 hours. In the last 7 days, ADA price has decreased by 6.79%. It is currently ranked as 9th biggest crypto asset in terms of market capitalisation.
Terra (LUNA): Terra coin’s price increased by 0.07% to $85.19 in the last 24 hours. In the last 7 days, LUNA price has decreased by 5.72%. It is currently ranked as 8th biggest crypto asset in terms of market capitalisation.
Popular memecoin Dogecoin’s (DOGE) price decreased by 0.35% in the last 24 hours while Shiba Inu (SHIB) price decreased by 0.22%% over the last day. DOGE is currently ranked 12th and SHIB 15th in terms of their respective market capitalisations. The price of DOGE at the time of this report was $0.1308 while SHIB price was $0.00002087.