Crypto prices jittery on Jan 29: BTC at $102, SOL down 5%

The crypto market was jittery on Wednesday ahead of the US Fed’s interest rate decision.

Bitcoin (BTC) and leading altcoins like Ethereum (ETH), XRP, and Solana (SOL) have remained volatile on January 29.

Investors remain cautious as they await US Fed Chair Jerome Powell’s speech, with some speculating that a dovish stance could give a boost to the cryptocurrency market.

The global cryptocurrency market capitalisation stands at $3.47 trillion, reflecting a 1.38% decrease over the past 24 hours.

Trading volume in the crypto market has fallen by 41.13% to $113.21 billion. Stablecoins make up the bulk of the trading volume at $102.2 billion, representing 90.28% of the total 24-hour volume.

Bitcoin (BTC) price today

Bitcoin (BTC) has been unable to make substantial gains, with its price just above the $102 mark at the time of writing, marking a nearly 1% decline from the previous day.

BTC price was down 0.87% in the last 24 hours at $102,191.62. The coin made a low of $100,238.19 and a high of $103,730.82 in the past day.

Analysts note that Bitcoin ETFs have been selling off large quantities of BTC ahead of the FOMC, with nearly 8,000 BTC worth $800 million recently offloaded.

Bitcoin’s dominance has increased to 58.32%, marking a rise of 0.40% over the last day.

Ethereum (ETH) price today

Ethereum (ETH) saw a nearly 3% decline, dropping to $3,125.40, with a low of $3,040 and a high of $3,221 in the past 24 hours.

Despite the volatility, major buyers like World Liberty have invested heavily in ETH.

Ethereum network activity has shown robust growth, with active addresses rising 37% to 575,000, up from a low of 420,000 in November.

Daily transactions have also surged to 1.3 million, compared to the 12-month low of 1 million.

Despite this increased activity, network fees have decreased, now standing at $2.22 million over the past 24 hours, down from nearly $4 million in December 2024.

XRP and SOL price today

XRP maintained its position above $3, trading at $3.11, showing resilience amid broader market trends.

XRP price was down 0.32% at the time of writing, with a low of $3.02 and a high of $3.21 in the past 24 hours

On the other hand, Solana (SOL) mirrored the broader market’s volatility, experiencing a 5% drop, trading at $230.42. The coin was the worst perfoming among the top 10 cryptocurrencies.

Crypto market gainers and losers

Movement (MOVE) stands out as the top gainer with a 13% rise, reaching a price of $0.8121.

Other gainers include dogwifhat (WIF) which saw a 6% gain.

On the losing side, Pudgy Penguins (PENGU) and Worldcoin (WLD) were the top losers, with 14% and 10% decline, respectively.

Broader crypto price action

USD Coin (USDC) is currently trading at $1.00, showing a -0.01% decrease in the last 24 hours.

TRON (TRX) is trading at $0.2421, with a -2.18% decrease over the past 24 hours.

Uniswap (UNI) is trading at $11.70, bucking the general trend with a 3.36% jump in the past 24 hours.

Vechain (VET) is trading at $0.0434, with a -4.86% decrease over the past 24 hours.

Zcash (ZEC) is trading at $42.45, with a -2.52% decrease over the past 24 hours.

Trust Wallet Token (TWT) is trading at $1.00, with a -1.57% decrease over the past 24 hours.

Zilliqa (ZIL) is trading at $0.01818, with a -4.33% decrease over the past 24 hours.

yearn.finance (YFI) is trading at $7,146.82, with a -2.40% decrease over the past 24 hours.

Waves (WAVES) is trading at $1.53, with a -1.69% decrease over the past 24 hours.

Verge (XVG) is currently trading at $0.008069, showing a 5.17% decrease over the past 24 hours.

xMoney (UTK) is trading at $0.06856, with a 1.29% increase over the past 1 hour and a 5.69% decrease over the past 24 hours.

Wanchain (WAN) is trading at $0.1727, with a 3.74% decrease over the past 24 hours.

WazirX (WRX) is trading at $0.02479, with a 3.79% decrease over the past 24 hours.

Wings (WINGS) is trading flat at $0.002872.

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