Crypto Market Declines Marginally, Trading Volume Dips 9.55 Per Cent

The global crypto market declined marginally on Thpursday. The total market cap was down by 1.55 per cent to $2.54 trillion, while the total trading volume was down by 9.55 per cent to $80.45 billion. GameStop GME was the most trending cryptocurrency. It was up by 25.16 per cent to $0.00426. Its 24-hour trading volume was $7.76 Billion. Notcoin NOT was the top gainer. It was up by 21.55 per cent. Its 24-hour trading volume was $1.05 Billion. Bonk BONK was the top loser. It was down by 19.35 per cent. Its 24-hour trading volume was $718.17 million.

DeFi was up by 1.16 per cent to $6.18 billion, Coinmarketcap.com reported.

Also Read: BlackRock’s IBIT Surpasses GBTC As World’s Largest Bitcoin ETF

Rajagopal Menon, VP, said, "Bitcoin, trading at $67,899, has fallen below $68,000 and is edging towards the $66,250 support level, below both $68,500 and the 100-hourly SMA. A bearish trend line forms resistance at $67,900, while immediate support is at $67,250, with major levels at $67,000 and potential further declines to $65,000."

He further mentioned, "Technical indicators suggest a slowdown in bearish momentum on the hourly MACD, while the RSI for BTC/USD has risen above 50. Major support is noted at $67,100 and $66,250, with notable resistance at $68,000 and $68,800."

He added, "Dogecoin, priced at $0.1644, has corrected gains and tested $0.1620 against the US Dollar, possibly forming a base to rise above $0.1680. It faces resistance at $0.1685, with support needed above $0.170 for a significant uptrend."

At last he said, "XRP maintains a crucial support at $0.5220, currently at $0.5263, with potential for a fresh increase if it stays above this level and overcomes resistance at $0.5350, trading below $0.5320 and the 100-hourly SMA."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 0.87 per cent to $67,955.23. Its 24-hour trading volume was $26.57 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 52.5 per cent.

Ethereum: Ethereum ETH was down by 2.50 per cent to $3,768.11 from the previous day. Its 24-hour trading volume was $16.63 billion. Ethereum’s market dominance was 18.1 per cent.

Tether: Tether USDT was trading at $0.9992. It was up by 0.03 per cent. Its 24-hour trading volume was $62.05 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was down by 2.89 per cent to $171.61. Its 24-hour trading volume was $2.74 billion.

Avalanche AVAX was trading at $36.64, down by 2.24 per cent. Its 24-hour trading volume was $384.03 million.

Cardano ADA was down by 2.70 per cent to $0.4502 from the previous day. Its 24-hour trading volume was $351.66 million.

Meme Coins

Dogecoin DOGE was down by 4.00 per cent, with a 24-hour price of $0.1624.

Shiba Inu SHIB was down by 3.75 per cent to $0.0000276.

Decentralised Finance

DeFi coin was trading at $0.04604, the same as yesterday.

Yearn.Finance YFI was down by 1.44 per cent to $7,129.78 in the last 24 hours. Its 24-hour trading volume was $12.70 million.