Crypto Market Dips Marginally, Trading Volume Declines

The global crypto market declined marginally on Thursday. The total market cap was down by 0.89 per cent to $2.29 trillion, while the total trading volume was down by 11.79 per cent to $64.82 billion. Jupiter JUP was the most trending cryptocurrency. It was down by 1.77 per cent to $1.06. Its 24-hour trading volume was $129.75 million. Lido DAO LDO was the top gainer. It was up by 2.30 per cent. Its 24-hour trading volume was 64.89 million. dogwifhat was the top loser. It was down by 10.83 per cent. Its 24-hour trading volume was $585.28 million.

DeFi was up by 0.76 per cent to $7.28 billion, Coinmarketcap.com reported.

Also Read: Grayscale Pulls Out Of Ethereum Futures ETF Application

Rajagopal Menon, VP, WazirX said, "Bitcoin bears reign supreme as its price consequently tumbled down to $61k levels from $63k in a couple of days. With a brief low of $60900, the price is consolidating at $61662.

He added, "The next resistance lies at $62k failing to break which, the price can face a downward pressure which could eventually push it to $58k levels. If the bulls don’t take over to break this resistance, the market hurdles will persist for BTC."

He further mentioned, "Ethereum like most other altcoins is on a bearish streak echoing Bitcoin’s momentum. It has extended losses and come down below the crucial psychological $3000 mark. The price of ETH currently stands at $2997 and faces consolidation."

However, "there is a hope of a short term price surge for Ethereum if it manages to breach the $3100 levels. It has already surpassed its resistance at $2985. The next support can be anticipated at $2900. But it will be critical in deciding its future trajectory as failure to hold this level will trigger a sell off."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 1.08 per cent to $61,685.26. Its 24-hour trading volume was $24.75 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 0.14 per cent to $3,003.38 from the previous day. Its 24-hour trading volume was $11.31 billion. Ethereum’s market dominance was 16.5 per cent.

Tether: Tether USDT was trading at $0.9996. It was up by 0.02 per cent. Its 24-hour trading volume was $45.55 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was down by 1.40 per cent to 145.42. Its 24-hour trading volume was $2.40 billion.

Avalanche AVAX was trading at $34.55, down by 0.26 per cent. Its 24-hour trading volume was $396.29 million.

Cardano ADA was up by 4.20 per cent to $0.4596 from the previous day. Its 24-hour trading volume was $521.18 million.

Meme Coins

Dogecoin DOGE was down by 0.75 per cent, with a 24-hour price of $0.1481.

Shiba Inu SHIB was up by 0.79 per cent to $0.00002301.

Decentralised Finance

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

Yearn.Finance YFI was up by 2.66 per cent to $7,061.44 in the last 24 hours. Its 24-hour trading volume was $15.94 million.