Crypto Market Dips Marginally, Trading Volume Declines 17.42%; Bitcoin, Ethereum Down

The global crypto market decreased marginally on Wednesday. The total market cap was down by 1.52 per cent to $2.3 trillion, while the total trading volume was up by 17.42 per cent to $63.63 billion. Pepe PEPE was the most trending cryptocurrency. It was up by 69.14 per cent to $0.0491. Its 24-hour trading volume was $5.74 million. Lido DAO LDO was the top gainer. It was up by 18.85 per cent. Its 24-hour trading volume was $530.96 million. dogwifhat was the top loser. It was down by 2.96 per cent. Its 24-hour trading volume was $17.07 million.

DeFi was down by 1.57 per cent to $5.96 billion, Coinmarketcap.com reported.

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Sathvik Vishwanath, Co-Founder & CEO, Unocoin said, "Bitcoin faced volatility and fell to $63,400 amid signs of a hawkish stance by the Federal Reserve. Despite a brief rally to $64,000 sparked by a tepid US jobs report, momentum has waned. Marathon Digital saw an 18% rise to $20.67, attributed to the inclusion of the S&P SmallCap 600 index, which contrasted with bitcoin's decline to $63,200, signaling market complexity. Ethereum ETF approval delays persist, while investments in Bitcoin ETFs such as the $68.35 million Hightower soar. Expectations of a Fed rate hike is boosting bitcoin's allure amid a weakening dollar, potentially supporting sustained price gains. Bitcoin's current uptrend faces resistance at $65,512 and support at $60,928."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 1.49 per cent to $62,626.37. Its 24-hour trading volume was $25.27 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 1.42 per cent to $3,025.39 from the previous day. Its 24-hour trading volume was $11.45 billion. Ethereum’s market dominance was 16.5 per cent.

Tether: Tether USDT was trading at $0.9999. It was down by 0.03 per cent. Its 24-hour trading volume was $44.89 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was down by 4.43 per cent to $147.77. Its 24-hour trading volume was $2.52 billion.

Avalanche AVAX was trading at $34.92, up by 5.21 per cent. Its 24-hour trading volume was $357.27 million.

Cardano ADA was down by 1.24 per cent to $0.1504 from the previous day. Its 24-hour trading volume was $297.29 million.

Meme Coins

Dogecoin DOGE was down by 3.22 per cent, with a 24-hour price of $0.1504.

Shiba Inu SHIB was down by 2.43 per cent to $0.00002306.

Decentralised Finance

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

Yearn.Finance YFI was down by 0.03 per cent to $6,873.72 in the last 24 hours. Its 24-hour trading volume was $14.23 million.