The global crypto market cap stands on the verge of losing the $1 trillion mark, as prices of top coins saw more losses than gains early Monday morning. Bitcoin (BTC), the world’s oldest crypto, failed to rise above the $22,000 mark over the weekend. Other popular altcoins — including the likes of Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — saw a mix of reds and greens across the board.
The Render Token (RNDR) became the top gainer, with a 24-hour jump of over 13 percent. The global crypto market cap stood at $1.01 trillion at the time of writing, registering a 24-hour dip of 0.49 percent.
Bitcoin (BTC) price today
Bitcoin price stood at $21,828.45, registering a 24-hour gain of 0.09 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 18.75 lakhs.
Ethereum (ETH) price today
ETH price stood at $1,518.99, marking a 24-hour dip of 0.88 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.32 lakhs.
Dogecoin (DOGE) price today
DOGE registered a 24-hour loss of 0.17 percent, as per CoinMarketCap data, currently priced at $0.08179. As per WazirX, Dogecoin price in India stood at Rs 7.29.
Litecoin (LTC) price today
Litecoin saw a 24-hour dip of 0.16 percent. At the time of writing, it was trading at $93.07. LTC price in India stood at Rs 7,900.
Ripple (XRP) price today
XRP price stood at $0.373, seeing a 24-hour loss of 2.27 percent. As per WazirX, Ripple price stood at Rs 32.40.
Solana (SOL) price today
Solana price stood at $20.93, marking a 24-hour gain of 1.16 percent. As per WazirX, SOL price in India stood at Rs 1,956.40.
Top crypto gainers today (February 13)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Render Token (RNDR)
24-hour gain: 13.87 percent
24-hour gain: 9.21 percent
24-hour gain: 9.18 percent
Internet Computer (ICP)
24-hour gain: 8.16 percent
Oasis Network (ROSE)
24-hour gain: 5.27 percent
Top crypto losers today (February 13)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
24-hour loss: 8.63 percent
24-hour loss: 8.55 percent
24-hour loss: 7.53 percent
24-hour loss: 7.50 percent
The Graph (GRT)
24-hour loss: 6.93 percent
What crypto exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Most cryptocurrencies experienced a decline over the weekend. Bitcoin’s value dipped below $22,000 following the US-based Kraken crypto exchange’s decision to halt its staking service and pay a $30 million fine to the SEC for not registering the service. The current trading price of Bitcoin, near its support level of $21,770, is bearish, and if the trend continues, it could fall to $21,500 by the end of the week.
Currently, Bitcoin does not show any signs of a midterm price recovery.”WazirX Vice President Rajagopal Menon said, “The Crypto market is feeling the impact of global regulations. Liquid staking token prices surged after the US Securities and Exchange Commission (SEC) and crypto exchange Kraken reached a settlement which clarified that staking as a technical service will continue in the US but with more transparency around tokens going into the staking pool, to prevent fund misuse.
Bitcoin’s price fell due to the SEC verdict that Kraken will cease its US operations. Ethereum’s price went down by almost 1.6 percent.”Sathvik Vishwanath, CEO and co-founder of Unocoin said, “Bitcoin price drops below $21,750, downtrend could continue with potential to reach $21,200. If the price breaks below this level, further declines may occur with the next support level at $20,600. Despite the current decline, with support from the 200-day EMA, there may be an opportunity for another top if the market holds above $20,300.”
Kunji founder Anurag Dixit offered his take, “Over the weekend, there was significant growth observed in certain subsectors of the cryptocurrency market. However, the US Security and Exchange Commission (SEC) is currently investigating and charging Paxos for their involvement with the BUSD stablecoin, which highlights the increased regulatory scrutiny that the industry may face in the coming year.
Despite the challenging global regulatory environment, there seems to be a shift in the commentary surrounding cryptocurrency regulations in India. Previously, there had been some suggestions to ban cryptocurrencies, but recent comments from Finance Minister Nirmala Sitharaman indicate a more accommodating stance. It is expected that the regulation of cryptocurrencies will eventually be a coordinated effort by governments worldwide. However, India’s initial stance during the G20 summit was to ban cryptocurrencies, as opposed to exploring the possibility of a coordinated regulatory framework.
“Shivam Thakral, the CEO of BuyUCoin, said, “The crypto market had a busy weekend as BTC is looking for a new support level. The macroeconomic factors are swinging the prices across the crypto market which include regulatory uncertainty and higher-than-expected December consumer prices. BTC is trading close to the $22,000 level while ETH is exchanging hands at the $1,516 level. The next FOMC meeting is the next big event for the digital asset market for which investors are eagerly waiting.”