Today’s Cryptocurrency Update: Bitcoin Holds Steady at $72,000, Toncoin Surges by 25%

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Bitcoin (BTC), the most established and highly valued cryptocurrency globally, seems to be holding steady around the $72,000 mark early on Wednesday, while the buzz surrounding BTC exchange-traded funds among investors continues to yield positive results. Various other popular alternative coins, such as Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC), experienced a mixture of slight declines and gains. Notably, Toncoin (TON) emerged as the top gainer for the second consecutive day, boasting a significant 24-hour increase of nearly 25 percent. Conversely, Kaspa (KAS) faced the most substantial loss, dropping by almost 6 percent within the same timeframe.

The total market capitalization of cryptocurrencies worldwide was recorded at $2.73 trillion at the time of this report, reflecting a 0.78 percent increase over the past 24 hours.

Current Bitcoin (BTC) Price

The price of Bitcoin is currently at $72,083.33, showing a slight 0.19 percent increase over the last 24 hours, according to CoinMarketCap. On the Indian exchange WazirX, BTC is trading at Rs 62.24 lakh.

Current Ethereum (ETH) Price

Ethereum is priced at $4,038.63, indicating a marginal 0.02 percent decrease in the last 24 hours. In India, the price of Ethereum on WazirX stands at Rs 3.49 lakh.

Current Dogecoin (DOGE) Price

DOGE experienced a 1.03 percent decline in the past 24 hours, with its price currently set at $0.1728. The price of Dogecoin on WazirX in India is Rs 14.85.

Current Litecoin (LTC) Price

Litecoin saw a 1.38 percent decrease over the last 24 hours, trading at $97.79. In India, LTC is priced at Rs 8,599.99 on WazirX.

Current Ripple (XRP) Price

The price of XRP is $0.695, showing a 0.18 percent increase in the past 24 hours. On WazirX, Ripple is priced at Rs 60.40 in India.

Current Solana (SOL) Price

Solana’s price is at $149.02, marking a 2.28 percent decrease over the last 24 hours. In India, SOL is trading at Rs 12,874.02 on WazirX.

Top Performing Cryptocurrencies Today (March 13)

Based on data from CoinMarketCap, here are the top five cryptocurrencies that have shown the highest gains in the past 24 hours:

Toncoin (TON)

  • Price: $4.39
  • 24-hour gain: 24.59 percent

NEAR Protocol (NEAR)

  • Price: $8.38
  • 24-hour gain: 22.46 percent

THORChain (RUNE)

  • Price: $11.32
  • 24-hour gain: 18.52 percent

Injective (INJ)

  • Price: $49.49
  • 24-hour gain: 16.57 percent

dogwifhat (WIF)

  • Price: $2.24
  • 24-hour gain: 13.92 percent

Top Declining Cryptocurrencies Today (March 13)

According to CoinMarketCap data, the following are the top five cryptocurrencies with the most significant losses in the past 24 hours:

Kaspa (KAS)

  • Price: $0.1482
  • 24-hour loss: 5.72 percent

Worldcoin (WLD)

  • Price: $9.86
  • 24-hour loss: 4.80 percent

Immutable (IMX)

  • Price: $3.49
  • 24-hour loss: 4.39 percent

Helium (HNT)

  • Price: $8.12
  • 24-hour loss: 4.28 percent

Bonk (BONK)

  • Price: $0.00002959
  • 24-hour loss: 4.01 percent

Edul Patel, the co-founder and CEO of Mudrex, mentioned to ABP Live, “Bitcoin experienced a slight drop in the last 24 hours in response to the higher-than-expected US CPI data from February. Despite this, it has maintained stability above \(72,000, driven by continuous investments in spot Bitcoin ETFs. Blackrock’s Bitcoin holdings have now reached close to 204K, with assets under management surpassing \)14.76 billion. Over the past month, Bitcoin has surged by 44%, approaching the $76,000 mark.”

The Markets Desk at CoinSwitch remarked, “Following the inflation data revealed in yesterday’s CPI report, which indicated a higher inflation rate than anticipated, BTC tested the \(69k level once again but successfully turned the long-term resistance into support. Interestingly, BTC also hit a new all-time high at \)73k before retracing, resulting in over \(350 million in liquidations in the last 24 hours. With the ETH Dencun upgrade going live at 7.25 PM today, it is anticipated that rollups will be able to publish data on the Ethereum blockchain at rates ten times lower than before. This upgrade will have a positive direct impact on top layer-2 solutions including MATIC, OP, and ARB. However, it is important to note that a significant unlocking event for ARB is scheduled for the upcoming week, leading to over \)2 billion worth of ARB tokens entering circulation.”

Vice President of WazirX, Rajagopal Menon, stated, “Bitcoin (BTC) reached a new all-time high above \(73,000 but later experienced a nearly 6% dip, currently trading at \)72,023, down by 0.08% over the last 24 hours. Ether (ETH) saw a 2% decline, while Ripple (XRP), Dogecoin, and Litecoin (LTC) observed losses ranging from 6% to 8%. The volatility resulted in over \(360 million in liquidated leveraged derivatives positions, primarily long positions. Despite the high prices, Bitcoin’s rally is displaying signs of slowing momentum, with the Relative Strength Index (RSI) decreasing despite the elevated prices. The \)69,000 level may provide short-term support, reminiscent of the peak of the 2021 bull market.”

CEO and co-founder of Unocoin, Sathvik Vishwanath, commented, “Bitcoin continues to attract attention as it remains above \(71,000, showing resilience with a minor 1.00% dip in the last day. This resilience is fostering optimism among traders and analysts regarding its future path. Key price levels on a four-hour chart include a pivot point at \)70,013, with resistance at \(73,824, \)76,749, and \(79,904 potentially acting as barriers to upward movement. Conversely, support levels at \)67,154, \(64,861, and \)62,192 offer protection against downward pressure. Technical indicators, notably the Relative Strength Index (RSI) at 67, suggest a slightly overbought status, yet the overall sentiment remains bullish. Investors are weighing these factors to determine the optimal entry point into the market.”

CEO of BuyUcoin, Shivam Thakral, noted, “The original cryptocurrency, Bitcoin, achieved another all-time high yesterday, surpassing \(73,000. Following a nearly 6% dip, Bitcoin managed to recover and is currently trading around \)72,000. Meanwhile, Ethereum has breached the \(4,000 resistance multiple times in recent days, potentially targeting the next resistance level at \)4,200. Blockchain tokens like MOVR, NEAR, and AVAX have recorded modest gains of over 20%.”

The Research Team at CoinDCX informed ABP Live, “In the past 24 hours, BTC reached a new all-time high, exceeding \(73,000 in futures trading, while ETH approached \)4,100, marking a new yearly peak. However, after the bearish CPI announcement, which revealed higher-than-expected data, coupled with significant outflows of BTC ETFs from GBTC, both BTC and ETH experienced a rapid 4-5% decline, dragging down altcoins as well. Subsequently, both BTC and ETH managed to recover. Technically, BTC has not shown any significant signs of a reversal yet, indicating a bullish sentiment, but monitoring the ETF inflow data will be crucial. Meanwhile, ETH remains fundamentally strong and is expected to surpass the $4,100 mark soon.”