Crypto Price Today: Bitcoin holds $27,000; Solana, Polygon and XRP slip up to 4%

Bitcoin and other crypto tokens were down on Tuesday as the digital asset market awaited the tech earnings. In the US, Wall Street is awaiting earnings from Microsoft and Alphabet which are scheduled for April 25. Traders have adopted wait-and-watch for some time.

After a marginal recovery, Bitcoin was back under selling pressure as the largest crypto asset dropped more than a per cent but held above the $27,000 level. Its largest peer, Ethereum, dropped another 2 per cent to slip below the $1,850 mark. Pain in the altcoins was more intense.

This morning, BTC is down over a per cent and has traded in the $27,000 range for the last 24 hours. ETH lost about 2 per cent and is trading in the $1800 range for the same time frame, said Parth Chaturvedi, Crypto Ecosystem Lead at CoinSwitch.

"Last week's Ethereum Shanghai upgrade saw a remarkable influx of 571,950 ETH deposits, worth over $1 billion, for staking. This has been the largest weekly token inflow for ETH ever. This surge was largely attributed to institutional staking service providers and investors who reinvested their rewards following withdrawal," he said.
 

Barring the US dollar-pegged stablecoins, all other top tokens were trading lower on Tuesday. Polygon dropped more than 4 per cent, followed by a 3 per cent fall in Solana. Cardano, Polkadot and XRP were among other top laggards as each token shed about 2 per cent.

The global cryptocurrency market cap was trading significantly lower, limping around the $1.15 trillion mark as it dropped more than a per cent in the last 24 hours. However, the total trading volumes jumped as much as 17 per cent to $36.62 billion.

Tech View by WazirX Trade Desk

The Floki (FLOKI) cryptocurrency serves as the utility token of the Floki Ecosystem and is referred to as the people's cryptocurrency. Its inception is credited to the followers and supporters of the Shiba Inu (SHIB) community, who drew inspiration from Elon Musk's Shiba Inu and named it accordingly.

Considering the potential of meme tokens, some of the top crypto exchanges have decided to list FLOKI in the coming days. With this announcement, the token surged by over 40% in the last 24 hours. On the daily timeframe the chart has just edged above the descending trendline with a huge buying volume. A strong resistance is expected at $0.000046 and the next support is expected at $0.0000243 levels.