Crypto Market Declines Marginally Even As Trading Volume Gains

The global crypto market declined marginally on Wednesday. The total market cap was down by 0.97 per cent to $2.44 trillion, even as the total trading volume was up by 1.45 per cent to $84.26 billion. io.net IO was the most trending cryptocurrency. It was down by 9.44 per cent to $4.08 Its 24-hour trading volume was $1.17 Billion. Bonk BONK was the top gainer. It was up by 9.47 per cent. Its 24-hour trading volume was 391.12 million. Akash Network AKT was the top loser. It was down by 14.84 per cent. Its 24-hour trading volume was $58.60 million.

DeFi was up by 2.28 per cent to $5.90 billion, Coinmarketcap.com reported.

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Sathvik Vishwanath, Co-Founder & CEO, Unocoin said "Bitcoin (BTC/USD) is trading near $67,250 pending key US economic data. Core CPI is expected to hold at 0.3%, while overall CPI may increase by 0.1%, which will influence the Federal Reserve's interest rate decision. Higher inflation could lead to rate hikes, which would negatively impact Bitcoin, while lower inflation could benefit it. Key is the Fed rate announcement and the FOMC projection at 6 p.m. Currently, Bitcoin is showing slight bearishness at $67,262, with support at $65,985 and resistance at $69,174. A buy position is recommended above $65,985 with a target of $69,174."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 0.56 per cent to $67,330.78. Its 24-hour trading volume was $31.65 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 49.06 per cent.

Ethereum: Ethereum ETH was down by 1.35 per cent to $3,515.54 from the previous day. Its 24-hour trading volume was $16.38 billion. Ethereum’s market dominance was 17.4 per cent.

Tether: Tether USDT was trading at $0.9997. It was up by 0.04 per cent. Its 24-hour trading volume was $64.01 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was down by 3.56 per cent to $154.22. Its 24-hour trading volume was $2.57 billion.

Avalanche AVAX was trading at $31.83, down by 1.41 per cent. Its 24-hour trading volume was $380.53 million.

Cardano ADA was down by 2.05 per cent to $0.4245 from the previous day. Its 24-hour trading volume was $530.20 million.

Meme Coins

Dogecoin DOGE was down by 1.56 per cent, with a 24-hour price of $0.139.

Shiba Inu SHIB was down by 2.43 per cent to $0.00002195.

Decentralised Finance

DeFi coin was trading at $0.062, down by 22.69 per cent.

Yearn.Finance YFI was down by 1.49 per cent to $6,239.02 in the last 24 hours. Its 24-hour trading volume was $19.59 million.