Crypto Price Update May 17: Bitcoin Above $66k, ETH at $3k, Avalanche and Chainlink Surge

The global crypto market looks to be ending the week in a mixed phase. Some of the coins are trading in the red zone while others are enjoying significant gains and moving around the green zone. Nevertheless, the sentiment surrounding the market remains positive as depicted in the crypto fear and greed index for today, May 17. According to Alternative data, the market is currently experiencing ‘greed’ suggesting that the market could be overvalued.

Meanwhile, the total crypto market cap has dropped by 0.12% to $2.38 trillion over the last 24 hours. Additionally, its total trading volume over the last day has dropped significantly by 23.93% to $76.26 billion which is a sharp contrast from yesterday’s $101 billion. The volume of all stablecoin transactions occupies about 92% of this total volume.

Top cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana SOL), Avalanche (AVAX), and Chainlink (LINK) are in focus today. Let us see how they have reacted over the last day.

Top Crypto Price Update For May 17

The flagship cryptocurrency Bitcoin has performed impressively over the week after gaining more than 5.04%. According to data from CoinMarketCap, the price of BTC is now $66,259, signifying a 0.18% increase in the last 24 hours. However, its trading volume has dropped notably by 26.63% to $31.2 billion, with a live market cap of $1.3 trillion.

Leading the altcoin, Ethereum has followed a similar path within the recorded time. At the time of writing, the price of ETH is $3,026, representing a 0.15% increase. What is more, its trading volume has tanked by 11% over the last 24 hours to $13.6 billion. In hindsight, ETH has lost 0.58% in the last seven days and 2.07% over the last month.

Solana has recorded substantial gains among the top ten cryptocurrencies. Fresh data shows that the price of SOL has jumped by 4% to $168.87. Similarly, its market cap has increased by 4.3% to $75.8 billion, making it the 5th largest cryptocurrency by market cap. However, its 24-hour trading volume has dipped 16% to $3.5 billion.

Trending coin XRP has seen a 0.20% increase. At press time, the price of XRP is $0.522. Moreover, its trading volume has dropped 5.2% to $1.12 billion.

Cardano has gotten the most gains among the top ten cryptocurrencies. Per CMC data, the price of ADA has surged by 5.47% to trade at $0.48. Its trading volume has dropped by 3.3% to $407 million with a live market cap of $17.1 billion.

On the memecoin front, Dogecoin (DOGE), and Shiba Inu (SHIB) have both dropped by 1.75% and 3.2% respectively. At the time of writing, the price of DOGE is $0.153 and the price of SHIB is $0.00002484.

Tokens like Avalance (AVAX) and Chainlink (LINK) have jumped significantly with the recorded time. The price of AVAX is up by 8.02% to $37.51 while the price of LINK has skyrocketed by 16.09% to trade at $16.23.

Top Trending Gainers Today

Few tokens have shown impressive growth over the last 24 hours, positioning them as some of the top gainers in the market. Some of them include:

GameStop (GME), a Solana-based memecoin that pays tribute to the 2021 short squeeze of GameStop, has surged exponentially by 58% to trade at $0.019.

Pepe (PEPE), the third-largest memecoin by market cap has grown by 5% within the recorded time at $0.0000113. PEPE now has a live market cap of $4.17 billion.

The post Crypto Price Update May 17: Bitcoin Above $66k, ETH at $3k, Avalanche and Chainlink Surge appeared first on Coinfomania.