Cryptocurrency rate today: On Friday, August 5, the cryptocurrency market remained largely flat but remained green as major cryptocurrencies including Bitcoin, Ethereum, Solana and Dogecoin held a slight rally over the past 24 hours. Market sentiment has improved slightly over the past couple of days, which has helped gain the cryptocurrency market cap. Data showed that the global cryptocurrency market cap rose by 1.32 percent over the past day to reach $1.10 trillion at the time of writing. However, trading volume fell 3.54 percent to $66.13 billion in the last 24 hours.
“Most of the cryptocurrencies faced a slight correction this week. Despite the slight decline, the cryptocurrency recovered and stood flat without any sharp moves,” said Edul Patel, co-founder and CEO of Modrics.
Bitcoin traded in the green on the day and maintained the $23,000 mark as investor sentiment improved over the past few days. Data retrieved from CoinMarketCap showed that the bitcoin price today at the time of writing was $23,199.26, up 0.02 percent over the past 24 hours. In the past seven days, bitcoin prices have fallen by 2.87 percent, in contrast to the gains made during the previous weeks.
“Bitcoin started the week above $23,000 but fell to $22,000 due to the mounting pressure, the recent US central bank rate hike, and the ongoing tension between China and Taiwan. However, the bulls did not manage to recover $23,000,” he said. Patel for News18.com.
“In recent weeks, bitcoin price has been on an uptrend making higher lows. The next major resistance level for bitcoin is expected at $32,300, and the next support is expected at $19,000.”
Meanwhile, Ethereum remained above the $1,600 mark on Friday as sentiment improved. Today’s Ether price has jumped 3.49 percent at the time of writing, to the $1,722.15 scale, according to data from CoinMarketCap. The data showed that Ether prices rose over the past week by 0.46 percent.
“The second largest cryptocurrency, Ethereum, has dropped to the $1,500 level and is back at $1,600. A continued rally could push the price to resistance at $1,785 soon,” Patel said.
Here are the top 10 cryptocurrencies and their prices on August 5, 2022, Friday, (according to data from coinmarketcap.com)
Bitcoin $23,199.26 or 0.02% gain in the last 24 hours
Ethereum $1722.15 or 3.49 percent gain in the last 24 hours
Tying $1.00 or 0.00 percent in the last 24 hours
USD Coin 0.9998 USD or 0.02 percent loss in the last 24 hours
BNB $314.9 or 0.88 percent loss in the last 24 hours
XRP 0.3746 USD, or 0.21 percent loss in the last 24 hours
Binance $0.9999 or 0.01 percent loss in the past 24 hours
Cardano $0.5177 or 1.33 percent gain in the last 24 hours
Solana $40.38 or 0.64 percent gain in the past 24 hours
Polkadot $8.78 or 4.17 percent gain in the last 24 hours