Crypto Market Dips Marginally Even As Trading Volume Rises By 19.18 Per Cent

The global crypto market declined marginally on Monday. The total market cap was down by 1.15 per cent to $2.63 trillion, while the total trading volume was up by 19.18 per cent to $77.47 billion. dogwifhat WIF was the most trending cryptocurrency. It was down by 0.65 per cent to $4.35. Its 24-hour trading volume was $434.91 million. Core CORE was the top gainer cryptocurrency. It was up by 63.77 per cent. Its 24-hour trading volume was $415.58 million. Conflux CFX was the top loser, down by 12.11 per cent. Its 24-hour trading volume was $140.13 million.

Sathvik Vishwanath, Co-Founder & CEO, Unocoin said, "Bitcoin's daily trading volume reached $16 billion, prompting caution despite a modest rise to $70,098. The rise of spot bitcoin ETFs, which have raised $30 billion in three months, reflects the growing acceptance of cryptocurrencies on Wall Street. Regulatory challenges remain but suggest greater institutional acceptance. Economist Peter Schiff warns of a looming financial crisis, citing inflationary pressures as the reason and advocating a reassessment of policy. Author Robert Kiyosaki advises ditching the US dollar for bitcoin, gold and silver amid economic uncertainty and predicts a bitcoin rally. Bitcoin's current price of $70,050 with resistance at $71,600 suggests a cautiously optimistic market sentiment. Holding support above $68,770 is vital to maintaining bullish momentum."

DeFi was down by 0.53 per cent to $12.56 billion, Coinmarketcap.com reported.

Also Read: CFTC Commissioner Cautions Against Overstepping SEC's Authority In KuCoin Case

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 0.89 per cent to $69,608.42. Its 24-hour trading volume was $23.53 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 52.0 per cent.

Ethereum: Ethereum ETH was down by 1.80 per cent to $3,545.51 from the previous day. Its 24-hour trading volume was $11.31 billion. Ethereum’s market dominance was 16.2 per cent.

Tether: Tether USDT was trading at $1.00. it was up by 0.02 per cent. Its 24-hour trading volume was $54.51 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was up by 0.93 per cent to $197.54. Its 24-hour trading volume was $2.96 billion.

Avalanche AVAX was trading at $52.13, up by 3.41 per cent. Its 24-hour trading volume was $525.95 million.

Cardano ADA was down by 3.49 per cent to $0.629 from the previous day. Its 24-hour trading volume was $432.15 million.

Meme Coins

Dogecoin DOGE was up by 0.74 per cent, with a 24-hour price of $0.2077.

Shiba Inu SHIB was down by 5.00 per cent to $0.00002893.

Decentralised Finance

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

Yearn.Finance YFI was up by 0.34 per cent to $9,025.14 in the last 24 hours. Its 24-hour trading volume was $39.89 million in the last 24 hours.