Bitcoin (BTC) and Ethereum (ETH) — two of the most valued cryptocurrencies — dipped below $17,000 and $1,200, respectively, as crypto prices continued to see an unprecedented meltdown. It is largely believed that Binance’s sudden u-turn on FTX takeover has resulted in the steady bloodshed of crypto prices, with several popular altcoins — including the likes of FTX Token (FTT), Solana (SOL), and Curve DAO Token (CRV) — taking heavy losses in the tune of up to over 50 percent in the last 24 hours.
At the time of writing, the global crypto market cap dipped below the $900 trillion mark after ages, priced at $821.02 billion, registering a 24-hour dip of 9.57 percent.
Bitcoin (BTC) price today
Bitcoin price stood at $16,385.46, seeing a 24-hour dip of 10.24 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 15.14 lakhs.
Ethereum (ETH) price today
ETH price stood at $1,171.07, marking a 24-hour loss of 10.27 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.09 lakhs.
Dogecoin (DOGE) price today
DOGE registered a 24-hour loss of 6.32 percent as per CoinMarketCap data, currently priced at $0.08027. As per WazirX, Dogecoin price in India stood at Rs 7.46.
Litecoin (LTC) price today
Litecoin saw a 24-hour dip of 8.57 percent. At the time of writing, it was trading at $53.97. LTC price in India stood at Rs 4,600.
Ripple (XRP) price today
XRP price stood at $0.3568, seeing a 24-hour dip of 8.20 percent. As per WazirX, Ripple price stood at Rs 32.
Solana (SOL) price today
Solana price stood at $14.98, marking a 24-hour loss of 30.96 percent. As per WazirX, SOL price in India stood at Rs 1,375.
Top crypto gainers today (November 10)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Terra Classic (LUNC)
24-hour gain: 4.89 percent
24-hour gain: 2.62 percent
PAX Gold (PAXG)
24-hour gain: 0.15 percent
Binance USD (BUSD)
24-hour gain: 0.14 percent
USD Coin (USDC)
24-hour gain: 0.05 percent
Top crypto losers today (November 10)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
FTX Token (FTT)
24-hour loss: 54.51 percent
24-hour loss: 32.85 percent
Curve DAO Token (CRV)
24-hour loss: 21.65 percent
24-hour loss: 21.33 percent
Lido DAO (LDO)
24-hour loss: 20.65 percent
What crypto exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Most cryptocurrencies witnessed massive selling pressure on Wednesday after Binance opted out of the FTX deal. The price of Bitcoin has hit it’s new yearly low, losing nearly 15 percent in the past 24 hours. BTC remains at risk of more losses if it breaks the $15,500 support level. The second largest cryptocurrency, Ethereum, is also down by nearly 20 percent from the previous day. On the other hand, Solana whales are liquidating their positions in response to the price crash. The series of events over the past two days have impacted investor sentiment.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “Binance pulls out of deal to buy FTX. On Tuesday, November 8, Binance signed a letter of intent to acquire the failing crypto exchange, although it said at the time that the deal was subject to a due diligence process. ETH is trading at $1,162, down 23 percent on the day, with a trading volume of over $32 billion. The price of Bitcoin is $16,739 with a trading volume of $113 billion in 24 hours. Bitcoin has fallen more than 9% in the last 24 hours and more than 18 percent in the last seven days.”
weTrade founder Prashant Kumar offered his take on the market scenario as well, “The global cryptocurrency market continued to face heavy loss for the second consecutive day. Bitcoin touched its lowest level in two years and is trading at $16,000. Meanwhile, Ethereum is trading close to $1,100. Similar trends can be seen in other cryptocurrencies after Binance decided to pull out of the FTX deal.”
Shivam Thakral, the CEO of BuyUCoin, said, “The FTX collapse has wiped out over $180 billion from the crypto market as digital assets across the board are under tremendous selling pressure. The largest crypto, Bitcoin, was down by over 9 percent and trading at a lower support level of $16,406.42 with some initial signs of recovery. Ethereum is trading at $1,170.12 which is a drop of over 10 percent in the last 24 hours, historical data shows that Ethereum follows Bitcoin’s trajectory.”
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.