Crypto Market Dips Marginally, Trading Volume Decreases; Bitcoin, Ethereum Down

The global crypto market decreased marginally on Wednesday. The total market cap was down by 0.10 per cent to $2.26 trillion, while the total trading volume was down by 4.08 per cent to $69.04 billion. Pepe PEPE was the most trending cryptocurrency. It was down by 3.42 per cent to $0.000007908. Its 24-hour trading volume was $611.69 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 WIF was the top loser. It was down by 10.83 per cent. Its 24-hour trading volume was $585.28 million.

DeFi was down by 1.73 per cent to $6.04 billion, Coinmarketcap.com reported.

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Sathvik Vishwanath, Co-Founder & CEO, Unocoin said, "Bitcoin is currently priced at $61,500 with a 24-hour trading volume of $28.28 billion, reflecting a 2.25% drop in the last day. The cryptocurrency, which boasts a market cap of $1.21 trillion, saw a significant inflow of $66 million into US spot bitcoin ETFs, reversing two days of outflows. Fidelity's FBTC led this increase with $38.6 million, followed by Bitwise's $20.3 million. This influx indicates growing investor confidence. Technically, Bitcoin is hovering around the $61,450 pivot point with support at $60,185 and resistance at the 50-day EMA at $61,975. The symmetrical triangle pattern suggests potential volatility with neutral market momentum as indicated by the RSI at 47."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 0.23 per cent to $61,848.04. Its 24-hour trading volume was $24.48 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 54.0 per cent.

Ethereum: Ethereum ETH was down by 0.42 per cent to $2,902.33 from the previous day. Its 24-hour trading volume was $11.41 billion. Ethereum’s market dominance was 15.5 per cent.

Tether: Tether USDT was trading at $0.9997. It was up by 0.03 per cent. Its 24-hour trading volume was $52.25 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was down by 1.75 per cent to $143.47. Its 24-hour trading volume was $2.35 billion.

Avalanche AVAX was trading at $32.32, up by 0.17 per cent. Its 24-hour trading volume was $377.85 million.

Cardano ADA was down by 1.29 per cent to $0.4282 from the previous day. Its 24-hour trading volume was $268.35 million.

Meme Coins

Dogecoin DOGE was down by 2.00 per cent, with a 24-hour price of $0.1466.

Shiba Inu SHIB was down by 1.40 per cent to $0.00002322.

Decentralised Finance

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

Yearn.Finance YFI was down by 0.35 per cent to $6,593.66 in the last 24 hours. Its 24-hour trading volume was $18.88 million.