Crypto Market Dips Marginally Even As Trading Volume Declines, Bitcoin Falls, Ethereum Up

The global crypto market fell marginally on Friday. The total market cap was down by 0.29 per cent to $2.53 trillion, while the total trading volume was down by 27.91 per cent to $113.14 billion. BOOK OF MEME BOME was the most trending cryptocurrency. It was up by 38.20 per cent to $0.01544. Its 24-hour trading volume was $16.98 billion. Ronin RON was the top gainer, up by 14.59 per cent. Its 24-hour trading volume was 86.38 million. Jupiter JUP was the top loser, down by 7.47 per cent. Its 24-hour trading volume was $302.25 million.

Sathvik Vishwanath, Co-Founder & CEO, Unocoin said "Bitcoin climbed above $67,000, up 10% from earlier lows, helped by the accommodative stance of the Federal Reserve, which supported overall market sentiment. Despite recent profit-taking, Bitcoin's rebound underscores continued bullish sentiment. With the expectation of three rate cuts and favorable macroeconomic conditions, Bitcoin could potentially regain its all-time high of $73,000. The closing price on Wednesday will be key to confirm a break above the descending trend channel. Although the recent decline reached 17.5%, which is typical of bull markets, shallow corrections are expected, especially after the introduction of the spot bitcoin ETF. With the prospect of a retest of record highs, Bitcoin remains poised to potentially reach $100,000 in the coming year."

DeFi was up by 1.78 per cent to $10.56 billion, Coinmarketcap.com reported.

Also Read: SEC Extends Deadline for VanEck's Spot Ether ETF Application

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 1.01 per cent to $66,413.37. Its 24-hour trading volume was $41.10 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 51.6 per cent.

Ethereum: Ethereum ETH was up by 0.37 per cent to $3,536.08 from the previous day. Its 24-hour trading volume was $20.43 billion. Ethereum’s market dominance was 16.6 per cent.

Tether: Tether USDT was trading at $0.9999. it was down by 0.03 per cent. Its 24-hour trading volume was $81.70 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was down by 5.33 per cent to $180.52. Its 24-hour trading volume was $4.94 billion.

Avalanche AVAX was trading at $55.87, up by 1.08 per cent. Its 24-hour trading volume was $1.08 billion.

Cardano ADA was up by 0.79 per cent to $0.6402 from the previous day. Its 24-hour trading volume was $614.68 million.

Meme Coins

Dogecoin DOGE was up by 5.26 per cent, with a 24-hour price of $0.1579.

Shiba Inu SHIB was up by 3.98 per cent to $0.00002793.

Decentralised Finance

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

Yearn.Finance YFI was up by 1.69 per cent to $9,096.63 in the last 24 hours. Its 24-hour trading volume was $62.00 million in the last 24 hours.