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

The global crypto market declined marginally on Saturday. The total market cap was down by 0.35 per cent to $2.53 trillion, while the total trading volume was down by 0.68 per cent to $73.7 billion. Notcoin NOT was the most trending cryptocurrency. It was up by 6.88 per cent to $0.01247. Its 24-hour trading volume was $564.13 million. JasmyCoin JASMY was the top gainer. It was up by 15.69 per cent. Its 24-hour trading volume was $453.31 million. Ordi ORDI was the top loser. It was down by 9.05 per cent. Its 24-hour trading volume was $302.90 million.

DeFi was down by 0.41 per cent to $5.95 billion, Coinmarketcap.com reported.

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Rajagopal Menon, VP, WazirX, said, "At the time of writing, Bitcoin is trading at $67,664, down 1.36% in the past 24 hours. BTC's market cap has dropped to $1.333 trillion, with a 24-hour trading volume decline of 6.71% to $26.8 billion, reflecting reduced trader interest. Bitcoin remains in a consolidation phase between $66k and $70k."

He further mentioned, "On the daily chart, Bitcoin struggles to close above the $69k resistance, needing to break this level to continue its uptrend. The next resistance points are $72k and $73.7k. Key support levels are the EMA21 at $67,241 and EMA55 at $65,528."

He added, "Bitcoin reached an all-time high of $73,000 in early March. This rise saw long-term holders sell-off, causing an oversupply and price correction. Recent Bitcoin ETF inflows, averaging $242 million daily, suggest renewed buyer interest despite ongoing miner selling pressure of $32 million daily."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 1.20 per cent to $67,616.67. Its 24-hour trading volume was $26.31 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 up by 0.97 per cent to $3,768.11 from the previous day. Its 24-hour trading volume was $15.10 billion. Ethereum’s market dominance was 18.0 per cent.

Tether: Tether USDT was trading at $0.9992. It was down by 0.06 per cent. Its 24-hour trading volume was $56.85 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was up by 0.39 per cent to $166.95. Its 24-hour trading volume was $2.30 billion.

Avalanche AVAX was trading at $35.93, down by 0.26 per cent. Its 24-hour trading volume was $278.42 million.

Cardano ADA was up by 0.19 per cent to $0.4484 from the previous day. Its 24-hour trading volume was $267.51 million.

Meme Coins

Dogecoin DOGE was up by 0.05 per cent, with a 24-hour price of $0.1592.

Shiba Inu SHIB was down by 1.95 per cent to $0.00002523

Decentralised Finance

DeFi coin was trading at $0.05698, down by 11.51 percent.

Yearn.Finance YFI was down by 1.17 per cent to $6,920.44 in the last 24 hours. Its 24-hour trading volume was $14.24 million.