Crypto Market Dips Marginally, Trading Volume Gains Over 42 Per Cent

The global crypto market Declined marginally on Monday. The total market cap was down by 3.64 per cent to $2.27 trillion, even as the total trading volume was up by 42.37 per cent to $47.88 billion. Ethena ENA was the most trending. It was down by 9.67 per cent to $0.5472. Its 24-hour trading volume was $333.40 million. UNUS SED LEO LEO was the top gainer. It was up by 8.89 per cent. Its 24-hour trading volume was $78.39 million. LayerZero ZRO was the top loser. It was down by 13.66 per cent. Its 24-hour trading volume was $143.34 million.

DeFi was down by 4.31 per cent to $3.81 billion, Coinmarketcap.com reported.

Also Read: Fidelity Updates Ether ETF Application, Reveals $4.7 Million In Initial Funding

Sathvik Vishwanath, Co-Founder & CEO, Unocoin said, "Bitcoin is currently trading at $64,380, which is slightly below the $64,500 pivot point, indicating a bearish trend. Interest from retail investors has increased by 7% since May, indicating a potential stabilization of the market. Analysts point out that retail momentum and profits from the reinvestment of crypto whales could support the recovery. Mining dynamics are crucial as inefficient miners exit the market, signaling potential price increases. Key resistance levels are at $65,000, $65,700 and $66,500, while support lies at $64,000, $63,500 and $62,900. The RSI is neutral at 47.8 and the 50-day EMA at $64,500 is adding resistance, indicating continued bearish sentiment

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 3.16 per cent to $62,349.57. Its 24-hour trading volume was $16.05 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 54.3 per cent.

Ethereum: Ethereum ETH was down by 4.02 per cent to $3,368.50 from the previous day. Its 24-hour trading volume was $12.08 billion. Ethereum’s market dominance was 18.1 per cent.

Tether: Tether USDT was trading at $0.9994. It was down by 0.02 per cent. Its 24-hour trading volume was $36.89 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was down by 7.78 per cent to $123.94. Its 24-hour trading volume was $1.52 billion.

Avalanche AVAX was trading at $24.26, up by 5.93 per cent. Its 24-hour trading volume was $415.95 million.

Cardano ADA was down by 4.20 per cent to $0.3725 from the previous day. Its 24-hour trading volume was $223.62 million.

Meme Coins

Dogecoin DOGE was down by 4.79 per cent, with a 24-hour price of $0.1184.

Shiba Inu SHIB was down by 6.17 per cent to $0.00001698.

Decentralised Finance

DeFi coin was trading at $0.0412, up by 0.75 per cent.

Yearn.Finance YFI was down by 3.70 per cent to $5,640.43 in the last 24 hours. Its 24-hour trading volume was $13.38 million.