Crypto Market Dips Marginally, Trading Volume Rises 4.22%; Bitcoin, Ethereum Falls

The global crypto market gained marginally on Monday. The total market cap was down by 0.66 per cent to $1.8 trillion, while the total trading volume was up by 4.22 per cent to 45.22 billion. Heroes of Mavia MAVIA was the most trending cryptocurrency. It was down by 19.20 per cent to $6.96. Its 24-hour trading volume was $153.90 million. Immutable IMX was the top gainer, up by 9.14 per cent. Its 24-hour trading volume was 201.28. Bonk BONK was the top loser, down by 10.18 per cent. Its 24-hour trading volume was $0.00001239.

Sathvik Vishwanath, Co-Founder & CEO, Unocoin said, "Bitcoin is showing strong support near $47,680, reinforced by an uptrend line and a bullish engulfing candlestick, suggesting a potential break above $49,000. Further momentum could push it towards $49,994 and possibly $51,288. Most indicators support the bullish outlook with the 50-day EMA above $44,440 and RSI around 77. However, a break below $47,680 could lead to a decline towards $47,000, $46,600 or $45,550. Monitoring the $47,680 level is key as a hold above it could signal a bullish reversal for Bitcoin."

DeFi was down by 0.34 per cent to $4.51 billion, Coinmarketcap.com reported.

Also Read: DeFi Compliance Trends For 2024 And Potential Legal Battle Against New SEC Regulations: Finance Redefined

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 0.30 per cent to $48,154.93. Its 24-hour trading volume was $19.19 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 52.5 per cent.

Ethereum: Ethereum ETH was down by 1.09 per cent to $2,496.87 from the previous day. Its 24-hour trading volume was $6.92 billion. Ethereum’s market dominance was 16.7 per cent.

Tether: Tether USDT was trading at $1.00, up by 0.01 per cent. Its 24-hour trading volume was $31.44 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was down by 3.06 per cent to $105.91. Its 24-hour trading volume was $1.52 billion.

Avalanche AVAX was trading at $38.83, down by 3.78 per cent. Its 24-hour trading volume was $543.92.

Cardano ADA was down by 4.25 per cent to $0.5382 from the previous day. Its 24-hour trading volume was $430.34 million.

Meme Coins

Dogecoin DOGE was down by 1.98 per cent, with a 24-hour price of $0.08038.

Shiba Inu SHIB was down by 1.31 per cent to $0.000009325.

Decentralised Finance

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

Yearn.Finance YFI was down by 1.29 per cent to $7,351.09 in the last 24 hours. Its 24-hour trading volume was $10.33 million.