Crypto market drops marginally

Crypto market drops marginally

The global crypto market fell marginally on Wednesday. The total market capitalization increased by 2.82 percent to $2.17 trillion, while the total trading volume decreased by 24.75 percent to $66.32 billion. Bitcoin BTC was the top trending. It increased by 3.50 percent to $59,302.73. The 24-hour trading volume was $28.68 million. Celestia TIA was the biggest gainer. It increased by 19.33 percent. The 24-hour trading volume was $248.72 million. Pepe PEPE was the biggest loser. It decreased by 2.03 percent. The 24-hour trading volume was $665.66 million.

According to Coinmarketcap.com, DeFi rose 3.67 percent to $3.70 billion.

Also read: Hackers Target Centralized Exchanges: $1.4 Billion in Crypto Exploits in 2024

Sathvik Vishwanath, Co-Founder and CEO of Unocoin, said: “Bitcoin recently rose 6% to $56,856.61, recovering from a low of $53,717.34 after a significant sell-off. This recovery has boosted investor confidence amid turbulent market conditions. Analysts are optimistic about potential new growth, citing oversold signals ahead of a recovery. Institutional interest remains strong, as evidenced by US Bitcoin ETFs, which saw net inflows of $438 million in two days. Recent price volatility has been driven in part by Mt. Gox executives’ payouts and the German government’s bitcoin sales. Technical indicators such as the RSI and moving averages are indicating an uptrend, with a potential golden cross signaling further price support and a shift in market momentum.”

Cryptocurrency prices

Bitcoin: Bitcoin BTC rose by 3.50 percent to $59,302.73. The 24-hour trading volume was 28.68 billion. It is currently ranked #1 on Coinmarketcap, based on market capitalization. Bitcoin’s market dominance was 53.5 percent.

Ethereum: Ethereum ETH rose 1.50 percent to $3,117.99 from the previous day. The 24-hour trading volume was $14.87 billion. Ethereum’s market dominance was 17.9 percent.

To tie: Tether USDT was traded at $1.00. It rose by 0.01 percent. The 24-hour trading volume was $51.27 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL rose 2.93 percent to $144.75. The 24-hour trading volume was $2.31 billion.

Avalanche AVAX was trading at $27.21, up 7.15 percent. The 24-hour trading volume was $283.61 million.

Cardano ADA rose 3.81 percent to $0.3847 from the previous day. The 24-hour trading volume was $257.42 million.

Meme Coins

Dogecoin DOGE rose by 1.55 percent, with a 24-hour price of $0.1096.

Shiba Inu SHIB rose 2.20 percent to $0.00001683

Decentralized Finance

The DeFi token traded at $0.03624, down 1.61 percent.

Yearn.Finance YFI rose 1.18 percent to $5,852.14 in the past 24 hours. The 24-hour trading volume was $12.02 million.