Crypto Market Dips Marginally Even As Trading Volume Gains

The global crypto market dips marginally on Monday. The total market cap was down by 4.79 per cent to $2.02 trillion, even as the total trading volume was up by 18.68 per cent to $64.94 billion. Bitcoin BTC was the most trending. It was up by 3.68 per cent to $55,486.84. Its 24-hour trading volume was $25.38 million. Notcoin NOT was the top gainer. It was up by 18.59 per cent. Its 24-hour trading volume was $1.19 Billion. Maker MKR was the top loser. It was down by 9.31 per cent. Its 24-hour trading volume was $75.73 million.

DeFi was down by 3.06 per cent to $4.69 billion, Coinmarketcap.com reported.

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Sathvik Vishwanath, Co-Founder & CEO, Unocoin said, "The cryptocurrency market has seen significant volatility recently, with Bitcoin, Ethereum, Solana, Cardano, and Dogecoin experiencing significant declines, leading to over $580 million in liquidations. Factors such as bitcoin wallet movements linked to Mt. Gox, potential oversupply concerns from government bitcoin transfers and broader macroeconomic uncertainties contributed to the selloff. Despite these challenges, there have been signs of recovery, notably marked by Bitcoin's return above $57,000 and increased accumulation by large holders. Technical analysis indicators such as bullish reversal candlesticks indicate the potential for bitcoin to recover and increase in price, suggesting underlying market resilience amid recent turbulence."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 3.68 per cent to $55,486.84. Its 24-hour trading volume was 25.38 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 53.5 per cent.

Ethereum: Ethereum ETH was down by 13.92 per cent to $2,909.32 from the previous day. Its 24-hour trading volume was $13.92 billion. Ethereum’s market dominance was 17.9 per cent.

Tether: Tether USDT was trading at $0.9999. It was down by 0.01 per cent. Its 24-hour trading volume was $51.15 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was down by 5.19 per cent to $132.66. Its 24-hour trading volume was $2.23 billion.

Avalanche AVAX was trading at $25.50, down by 4.36 per cent. Its 24-hour trading volume was $268.37 million.

Cardano ADA was down by 5.31 per cent to $0.3486 from the previous day. Its 24-hour trading volume was $317.05 million.

Meme Coins

Dogecoin DOGE was down by 6.60 per cent, with a 24-hour price of $0.1035.

Shiba Inu SHIB was down by 7.62 per cent to $0.00001554.

Decentralised Finance

DeFi coin was trading at $0.03488, down by 1.05 per cent.

Yearn.Finance YFI was down by 8.63 per cent to $5,564.76 in the last 24 hours. Its 24-hour trading volume was $26.22 Billion.