Crypto Market Decreases Marginally, Trading Volume Dips 22.47%; Bitcoin, Ethereum Down

The global crypto market decreased marginally on Friday. The total market cap was down by 0.76 per cent to $2.37 trillion, while the total trading volume was down by 22.47 per cent to $76.58 billion. GameStop GME was the most trending cryptocurrency. It was up by 60.44 per cent to $0.01955. Its 24-hour trading volume was $176.00 million. Floki FLOKI was the top gainer. It was up by 10.77 per cent. Its 24-hour trading volume was $789.40 million. WorldCoin WLD was the top loser. It was down by 9.30 per cent. Its 24-hour trading volume was $612.65 million.

DeFi was down by 1.35 per cent to $5.47 billion, Coinmarketcap.com reported.

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Sathvik Vishwanath, Co-Founder & CEO, Unocoin said that, "Bitcoin is trading just above $65,000 and experiencing a 1.25% correction after a recent rally due to weaker US CPI data, dovish FOMC sentiment and a move away from the symmetric triangle. Despite this correction, the outlook remains bullish, supported by Andrew Tate's 100 million Bitcoin investment and the declining supply of BTC on exchanges. Glassnode reports that BTC supply on exchanges has fallen to 1,728,782 BTC, with significant outflows indicating bullish sentiment. Technically, the price of Bitcoin has returned to $64,750, a key support level. If it holds, resistance is at $66,600 and $67,820. A break below could lead to $63,300. The 50-day EMA around $63,150 provides further support, with the RSI still showing bullish territory at 62."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 0.64 per cent to $65,473.58. Its 24-hour trading volume was $29.93 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 52.7 per cent.

Ethereum: Ethereum ETH was down by 1.99 per cent to $2,950.35 from the previous day. Its 24-hour trading volume was $12.16 billion. Ethereum’s market dominance was 16.5 per cent.

Tether: Tether USDT was trading at $1.00. It was down by 0.01 per cent. Its 24-hour trading volume was $58.38 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was down by 0.54 per cent to $161.97. Its 24-hour trading volume was $3.11 billion.

Avalanche AVAX was trading at $34.84, up by 0.15 per cent. Its 24-hour trading volume was $347.13 million.

Cardano ADA was up by 0.79 per cent to $$0.4632 from the previous day. Its 24-hour trading volume was $363.99 million.

Meme Coins

Dogecoin DOGE was down by 4.42 per cent, with a 24-hour price of $0.1499.

Shiba Inu SHIB was down by 2.93 per cent to $0.00002438.

Decentralised Finance

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

Yearn.Finance YFI was down by 1.17 per cent to $6,776.43 in the last 24 hours. Its 24-hour trading volume was $14.82 million.