Crypto Market Declines Marginally, Trading Volume Dips 15%; Bitcoin, Ethereum Fall

The global crypto market declined marginally on Friday. The total market cap was down by 0.45 per cent to $2.04 trillion, while the total trading volume was down by 15.63 per cent to $60.93 billion. Dogs DOGS was the most trending cryptocurrency. It was down by 2.21 per cent to $0.001036. Its 24-hour trading volume was $239.76 million.

Quant QNT was the top gainer. It was up by 9.19 per cent. Its 24-hour trading volume was $16.04 million. Aave AAVE was the top loser. It was down by 5.74 per cent. Its 24-hour trading volume was $305.12 million.

DeFi was up by 0.14 per cent to $2.73 billion, Coinmarketcap.com reported.

Sathvik Vishwanath, co-founder and CEO, Unocoin said: “Bitcoin’s price has seen a slight decline of 0.97 per cent since mid-August. It is currently trading at $58,360. Analysts are cautious, with some predicting a potential dip to a low of $40,000 before a possible resurgence. Markus Thielen from 10x Research forecasted that Bitcoin could fall into the low $40,000 range before rebounding. If Bitcoin drops to $45,000, it might trigger market fear and uncertainty, but a recovery to around $70,000 could lead to increased investor enthusiasm and fear of missing out. Overall, the market sentiment remains fear-driven, as reflected in the ‘Crypto Fear & Greed Index’ score of 31.”

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 0.64 per cent to $57,867.54. Its 24-hour trading volume was $31.45 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 56.1 per cent.

Ethereum: Ethereum ETH was down by 0.70 per cent to $2,358.63 from the previous day. Its 24-hour trading volume was $11.08 billion. Ethereum’s market dominance was 13.9 per cent.

Tether: Tether USDT was trading at $1. It was down by 0.01 per cent. Its 24-hour trading volume was $46.54 billion. It was ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was up by 0.83 per cent to $134.56. Its 24-hour trading volume was $1.39 billion.

Avalanche AVAX was trading at $23.72, down by 0.20 per cent. Its 24-hour trading volume was $190.14 million.

Cardano ADA was down by 0.14 per cent to $0.3544 from the previous day. Its 24-hour trading volume was $233.07 million.

Meme Coins

Dogecoin DOGE was down by 0.42 per cent, with a 24-hour price of $0.102.

Shiba Inu SHIB was down by 0.09 per cent to $0.00001341.

Decentralised Finance

DeFi coin was trading at $0.01966, down by 5.49 per cent.

Yearn.Finance YFI was down by 0.36 per cent to $4,840.81 in the last 24 hours. Its 24-hour trading volume was $8.21 million.