Top Cryptocurrency Prices Today in India (June 6): The prices of many top-tier cryptos have risen in the past 24 hours while the global crypto market capitalization hit $1.28 trillion, up 3.89% in the past day, according to data. data from CoinMarketCap at the time of writing (12:01). Bitcoin (BTC) price is back in the green and above the $31,000 level, up 4.28% in the last 24 hours. At the time of writing, the price of Bitcoin on global exchanges was $31,197.
Total cryptocurrency market volume in the past 24 hours increased by 32% to $56.47 billion. Total DeFi volume was $5 billion, or 8.86% of the total 24-hour crypto market volume. The stablecoin volume was $47.9 billion, or 84.83% of the total 24-hour crypto market volume.
Meanwhile, Bitcoin’s dominance as the number one crypto asset edged up 0.35% during the day to 46.51%.
Should Investors Stay Away From Crypto Markets?
Commenting on market trends over the weekend, Darshan Bathija, CEO and co-founder of crypto exchange Vauld, said: “Buyers remained on the sidelines as BTC fell near the 30,000 level. The Crypto Fear and Greed Index, which measures market sentiment, showed investors were overall still bearish about the market.
“Over the past few weeks, we have also seen an increase in bitcoin dominance. Usually, in bear markets, alts underperform BTC because they have a higher risk profile. The anti-risk approach means that investors will stay away from high-risk investments for the time being,” he added.
Bitcoin has spiked over 4% in the past 24 hours, bringing trading volume to green.
Edul Patel, co-founder and CEO of crypto investment platform Mudrex, said, “BTC has been trading in a tight range between $29,500 and $31,000 since mid-May. If the bulls could attempt to break above US$31,000 this week, BTC will likely head towards its resistance at US$34,000 in the coming days.
The extreme fear continues
WazirX Trade Desk analysts shared in an email note that Bitcoin finally ended the week green after closing lower for 9 consecutive weeks. “Bitcoin hourly trend has broken above the triangle pattern. Next resistance for BTC is expected at $40,000 and immediate support is expected at $26,800. Market sentiment, however, continues to remain gloomy, hovering in the ‘extreme fear’ zone,” they said.
INR Cryptocurrency Market: Crypto Rupee Index Update
The Crypto Rupee Index (CRE8), which tracks the performance of the crypto market in INR, rose by Rs 162.47 in the past 24 hours. At the time of writing, the index was at Rs 3237. CRE8 is an Indian rupee-denominated crypto index reflecting Indian trading conditions. Learn more about CRE8 here)
Best Crypto Prices June 6
Ethereum (ETH): Ethereum price rose 4.44% to $1874 in the past 24 hours. In the past 7 days, the price of ETH has decreased by 1.72%. It is currently ranked the second crypto asset by market capitalization.
Binance (BNB): Binance Chain coin price increased by 3.08% to $306.8 in the last 24 hours. Over the past 7 days, the price of BNB has decreased by 3.99%. It is currently ranked the fifth largest crypto asset by market capitalization.
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XRP: The price of the XRP coin has increased by 2.13% to $0.4005 in the last 24 hours. Over the past 7 days, the price of XRP has decreased by 0.31%. It is currently ranked 7th among cryptocurrencies by market capitalization.
Solana (SOL): Solana’s price jumped 7.64% to $41.6 in the past 24 hours. Over the past 7 days, the price of SOL has decreased by 10.44%. It is currently ranked 9th among crypto assets by market capitalization.
Cardano (ADA): Cardano token price rose 10.21% to $0.6216 in the past 24 hours. In the past 7 days, the price of ADA has increased by 19.7%. It is currently ranked 6th among crypto assets by market capitalization.
Popular memecoin price Dogecoin (DOGE) has risen 1.8% in the past 24 hours. DOGE is currently ranked 10th in terms of market capitalization. The price of DOGE at the time of this report was $0.08262.
Polkadot (DOT) prices rose 3.67% to $9.71 while Avalanche (AVAX) rose 9% to $26.49. DOT and AVAX are currently ranked 11th and 14th respectively on CoinMarketCap. Polygon (Matic) price increased by 4.66% to $0.61971 in the last 24 hours. It is currently ranked 18th on CoinMarketCap.
Meanwhile, the price of Tron (TRX) has risen 3.84% in the past 24 hours to $0.0832. It is currently ranked 13th on CoinMarketCap.
(Cryptos and other virtual digital assets are unregulated in India. They are considered extremely risky for investment. Please consult your financial advisor before making any investment decision)