Cryptocurrency prices sparked bearish concerns among investors around the world today, reversing recent gains. Bitcoin (BTC) price fell back to the $59,000 level in the past 24 hours, while the global cryptocurrency market cap plunged more than 5% to $2.09 trillion. Additionally, prices of altcoins Ethereum (ETH), Solana (SOL), and XRP climbed between 4% and 8% in the past day.
However, the total market volume saw a 32.16% increase to $86.67 billion. Here’s a look at the top cryptocurrencies by market cap and their price action today, August 28.
Cryptocurrency Prices Today (August 28): How Are BTC, ETH, SOL, and XRP Performing?
Bitcoin Price Today
The price of BTC has dropped by 5% in the last 24 hours and is currently sitting at $59,510. Its intraday lows and highs were recorded at $58,116.75 and $63,207.60, respectively.
The main reasons for the Bitcoin price drop include traders’ anticipation of the US PCE inflation data, Nvidia’s upcoming earnings release on August 28, and increased whale selling, among other factors. Still, it’s worth mentioning that the number of Bitcoin millionaires has jumped 111% this year following the halving and BTC hitting a high in the first half of the year.
Bitcoin ETFs have seen outflows worth $127.05 million as of August 27, according to data from Soso Value, which is in line with the coin’s downward movement today. Additionally, the dominance of the flagship coin has seen a 0.03% decline over the past day, to 56.27%.
Ethereum Price Today
ETH price has climbed nearly 8% over the past day to $2,478. Its 24-hour lows and highs are $2,401.18 and $2,700.15, respectively.
Ethereum ETFs have seen outflows worth $3.45 million as of August 27. These outflows come despite the recent launch of BlackRock’s Ethereum ETF in Brazil.
Meanwhile, Ethereum founder Vitalik Buterin revealed that nearly 90% of his net worth is in ETH holdings. While this statement has sparked excitement among investors, the cryptocurrency is currently performing poorly, with its market cap slipping below $300 billion at press time.
Solana Price Today
SOL price has dropped 6.5% in the last 24 hours to $148. Solana’s 24-hour low and high are $145.58 and $159.62, respectively.
It is worth noting that the Solana blockchain was recently integrated into Robinhood’s wallet, marking a significant advancement for the token’s ecosystem. Furthermore, the coin’s weekly chart illustrated a 2% gain, sparking feelings of uncertainty about future price movements.
XRP Price Today
XRP price settled at $0.5683 today, down 4% in the last 24 hours. Its intraday lows and highs were recorded at $0.558 and $0.5996, respectively.
Despite the current bearish movement of the Ripple-backed cryptocurrency, optimism about future price movements persists as recent XRP whale data shows that the SEC is unlikely to appeal Judge Analisa Torres’ final ruling, painting an optimistic future for price movements.
Meme Coins Performance Today
Dogecoin (DOGE) price has dropped 6% over the past day to $0.09938. At the same time, Shiba Inu (SHIB) price has dropped 6% to $0.00001377 today.
Even the prices of Pepe (PEPE), Dogwifhat (WIF), and BONK coins have dropped by 9-12% over the past day. The downward movement of the meme coin sector is in line with the general market trend.
Best Crypto Gainers Prices Today
Popcat (POPCAT)
POPCAT price jumped 2.09% in the last 24 hours to $0.7167. Its intraday lows and highs were $0.6495 and $0.7327, respectively.
Notcoin (PAS)
The price of NOT increased by 1.5% over the past day to reach $0.00876. Its 24-hour lows and highs were $0.008378 and $0.009207, respectively.
UNUS LED Reference (LEO)
LEO price has seen gains of 0.5% over the past day, trading at $5.84. The 24-hour low and high were $5.77 and $6.07.
Top Cryptocurrency Losers Prices Today
Follow (SUI)
SUI price fell 13% over the past day to $0.8408. Its intraday lows and highs were $0.8186 and $0.9698, respectively.
dogwifhat (WIF)
WIF price fell 12% over the past day to $1.59. Its intraday lows and highs were $1.52 and $1.82, respectively.
SAT (1000SAT)
The price of 1000SATS is down 12% to $0.0003219 today. Its 24-hour lows and highs were $0.0003155 and $0.0003709, respectively.
Furthermore, the hourly price charts illustrated a 0.31% gain for BTC, while ETH surged by 0.38%, sparking further speculations on cryptocurrency prices today. Notably, a renowned cryptocurrency market analyst by the name of Ash Crypto also took a look at X today, shedding light on BTC’s downward movement. According to the analyst, the main reasons behind this downward movement include risk assets due to the war movement between Russia and Ukraine, ETF outflows, and market manipulation as the S&P500 soared, NASDAQ soared, but BTC fell.
However, the analyst also believes that this paves the way for smart silver accumulation, suggesting higher prices in the future.
Coingape Staff
CoinGape is comprised of an experienced team of native writers and content editors who work around the clock to cover global news and present information as facts rather than opinions. CoinGape writers and journalists contributed to this article.
Disclaimer: The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication does not assume any responsibility for your personal financial losses.
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