Cryptocurrency Price Today: The global cryptocurrency markets continued to display a flat movement on Saturday, May 28, even as the global stock market pushed through. This was because of the fear among crypto investors did not subside following several days of choppy stock market sessions amid a number of reasons. Major crypto coins including Bitcoin, Ethereum and Solana also did not register much growth, but mostly remained in green at the time of writing this article.
The global cryptocurrency market was up by 1.17 per cent in the last 24 hours, as per data, standing at $1.20 trillion at the time of writing this article. “The crypto bear market is in for a long haul as the overall crypto market cap fell by almost 4 per cent,” Shivam Thakral, CEO of BuyUcoin said on Friday.
Meanwhile, Bitcoin prices still remained below the $29,000 levels, after a dip on Friday. Bitcoin price today was standing at $28,849.59, according to data from global cryptocurrency tracking website CoinMarketCap. This was up by 0.56 per cent in the past 24 hours, but down by 1.33 per cent in the last seven days.
“Bitcoin is struggling to cross the $30k mark and Ether is under a lot of pressure after slipping below the $1700 mark. Layer 1 coins like Solana and Avalanche have suffered double-digit losses and the total value locked in the Defi ecosystem witnessed a significant drop,” noted Shivam Thakral.
Ether stayed below the $1,800 mark through the day, rising 2.22 per cent in the last 24 hours. Ether price today was standing at $1,767.81, as per data. Ethereum prices have come down by 10 per cent over the past week.
Meanwhile, Ethereum’s co-founder Gavin Wood said cryptocurrency investors need to be more aware of what is backing their holdings after a market rout which wiped more than $800 billion off their value, as per a report on Reuters.
“It is important to note that crypto is not the only market in a bear phase, some of the most high-paced tech stocks have faced a major downward trend which is a result of several macroeconomic factors putting pressure on the traditional and crypto market across the globe. The markets are expected to remain choppy and investors should hold onto their position,” said Thakral in a note to News18.com.
Here are the top 10 cryptocurrencies and their prices on May 28, 2022, Saturday (data from coinmarketcap.com)
Bitcoin $28,849.59 or 0.56 per cent gain in the last 24 hours
Ethereum $1,767.81 or 2.22 per cent loss in the last 24 hours
Tether $0.9991 or 0.00 per cent gain in the last 24 hours
USD Coin $1.00 or 0.01 per cent gain in the last 24 hours
BNB $302.05 or 3.34 per cent gain in the last 24 hours
XRP $0.3858 or 1.63 per cent gain in the last 24 hours
Binance USD $0.9995 or 0.00 per cent gain in the last 24 hours
Cardano $0.4599 or 1.84 per cent gain in the last 24 hours
Solana $41.90 or 3.90 per cent gain in the last 24 hours
Dogecoin $0.0826 or 6.79 per cent gain in the last 24 hours