Crypto prices today: Top cryptocurrencies register losses, Bitcoin stands at $26,785.36

On Thursday, a majority of crypto tokens witnessed loss. Ethereum and Bitcoin noticed a decline of 2.24 percent and 3. 11 percent, respectively, over the last 24 hours.

New Delhi,UPDATED: Jun 1, 2023 10:19 IST

Crypto prices on 1 June

Highlights

Bitcoin decreased by 3.11 percent to trade at $ $26,785.36
Top meme coins were impacted negatively

Cryptocurrencies extended losses in the trade on Thursday. Bitcoin, the largest cryptocurrency in the world, marked lows by 3.11 percent to trade at $26,788.39. At the time of writing this article (0930 IST), its nearest rival, Ethereum, declined by 2.24 percent to stand at $1854.29

As the market witness negative fluctuations, the prices of top tokens like Avalanche fell by 1.92 percent, Cardano decreased by 3.93 percent and Cosmos plunged by 5.25 percent. Other tokens like Monero, Polygon, Litecoin and Polkadot registered losses by 4.81 percent, 1.74 percent, 0.82 percent and 3.60 percent, respectively.

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WazirX Vice President Rajagopal Menon said, “Bitcoin faced downward pressure as investors reacted to hawkish remarks made by a key Federal Reserve representative, signalling a perceived absence of strong incentives to halt the tightening of liquidity measures."

The global cryptocurrency market cap dropped by 2.35 percent to $1.13 trillion, in contrast to growth registered in the total crypto market volume by 17.26 percent to 35.70 billion.

Gainers and decliners

Today's top gainers include XDC Network, Stellar, IOTA and UNUS SED LEO. Contrastingly, coins like Conflux, GateToken, Loopring, and Lido DAO were among the top losers.

Meme coins went down

Popular meme coins noticed negative price fluctuations. Elon Musk-backed Dogecoin fell by 1.38 percent to $0.07132. Other meme coins like Shiba Inu and Pepe Coin, plunged by 1.69 percent and 6.18 percent, respectively. The value of Floki and Bone ShibaSwap also reduced over the last 24 hours.

Metaverse tokens record losses

Most of the metaverse tokens were trading low today. Internet Computer declined by 4.14 percent, and The Sandbox dipped by 5.29 percent. The values of Theta Network and Stacks also recorded a slip amid the market fluctuations. The negative impact could also be witnessed in the prices of Render Token and Decentraland by 3.38 percent and 4.04 percent, respectively.