Crypto Market Dips Marginally, Trading Volume Gains 59.44%

The global crypto market declined marginally on Tuesday. The total market cap was down by 1.39 per cent to $2.34 trillion, while the total trading volume was up by 59.44 per cent to $76.8 billion. Pepe PEPE was the most trending cryptocurrency. It was down by 5.14 per cent to $0.000008189. Its 24-hour trading volume was $1.01 billion. Aioz Network AIOZ was the top gainer. It was up by 7.02 per cent. Its 24-hour trading volume was $17.32 million. Bonk BONK was the top loser. It was down by 7.20 per cent. Its 24-hour trading volume was $333.96 million.

DeFi was up by 2.38 per cent to $5.02 billion, Coinmarketcap.com reported.

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Rajagopal Menon, VP, WazirX said, "Bitcoin surged towards $65,000 yesterday, fueled by investor enthusiasm and a rise in trading activity. However, the party was short-lived as the price encountered strong resistance and dipped back to just above $63,000. This retracement wasn't entirely unexpected, as market indicators had hinted at potential resistance around this level, especially after the recent halving event which can sometimes lead to temporary price dips."

He further mentioned, "Institutional investors’ confidence is driving the positive sentiment for Solana which in turn is boosting network activity. Coupled with it, new technical upgrades on the network are also attracting new users. Solana has now settled at $154 which is an uptick after its latest consolidation which took it down to $152. The support now lies at $152 and $150, failure to withhold which can trigger a correction."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 1.34 per cent to $63,423.47. Its 24-hour trading volume was $30.31 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 down by 2.68 per cent to $3,067.88 from the previous day. Its 24-hour trading volume was $13.78 billion. Ethereum’s market dominance was 15.7 per cent.

Tether: Tether USDT was trading at $1.00. It was down by 0.01 per cent. Its 24-hour trading volume was $54.91 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was up by 5.01 per cent to $154.83. Its 24-hour trading volume was $3.24 billion.

Avalanche AVAX was trading at $36.95, down by 1.38 per cent. Its 24-hour trading volume was $574.09 million.

Cardano ADA was down by 1.76 per cent to $0.4499 from the previous day. Its 24-hour trading volume was $368.78 million.

Meme Coins

Dogecoin DOGE was down by 4.01 per cent, with a 24-hour price of $0.156.

Shiba Inu SHIB was down by 4.04 per cent to $0.00002372.

Decentralised Finance

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

Yearn.Finance YFI was down by 1.99 per cent to $6,889.15 in the last 24 hours. Its 24-hour trading volume was $17.50 million.