Crypto Market Dips Marginally, Trading Volume Surges 31%; Bitcoin, Ethereum Down

The global crypto market declined marginally on Monday. The total market cap was down by 3.42 per cent to $2.1 trillion, while the total trading volume was up by 31.40 per cent to $67.05 billion. Simon’s Cat CAT was the most trending cryptocurrency. It was down by 4.32 per cent to $0.00003267. Its 24-hour trading volume was $84.24 million.

Nervos Network CKB was the top gainer. It was up by 7.56 per cent. Its 24-hour trading volume was $659.22 million. Bittensor TAO was the top loser. It was down by 12.10 per cent. Its 24-hour trading volume was $69.56 million.

DeFi was down by 2.05 per cent to $3.33 billion, Coinmarketcap.com reported.

Sathvik Vishwanath, Co-Founder & CEO, Unocoin said, "Bitcoin (BTC) bounced back to $58,000, recovering from a dip below $56,000 as the global cryptocurrency market capitalization rose to $2.05 trillion. Despite the uncertainty surrounding the US election, experts predict that Bitcoin will reach $100,000 by 2025, thanks to fiscal policy and strong institutional interest. Bitcoin miners like Marathon Digital are holding on to their BTC and investing in efficient hardware, reflecting confidence in the future of Bitcoin. The cryptocurrency's hashrate remains near all-time highs. Technical analysis shows BTC trading at $57,888, with resistance at $58,494 and support at $57,227, suggesting a cautious bullish outlook."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 3.38 per cent to $58,219.74. Its 24-hour trading volume was $21.78 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 56.1 per cent.

Ethereum: Ethereum ETH was down by 7.00 per cent to $2,256.90 from the previous day. Its 24-hour trading volume was $12.52 billion. Ethereum’s market dominance was 13.9 per cent.

Tether: Tether USDT was trading at $0.9999. It was down by 0.04 per cent. Its 24-hour trading volume was $38.63 billion. It was ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was down by 5.91 per cent to $130.16. Its 24-hour trading volume was $1.53 billion.

Avalanche AVAX was trading at $23.43, down by 6.69 per cent. Its 24-hour trading volume was $207.11 million.

Cardano ADA was down by 6.60 per cent to $0.3318 from the previous day. Its 24-hour trading volume was $207.83 mi

Meme Coins

Dogecoin DOGE was down by 4.61 per cent, with a 24-hour price of $0.1009.

Shiba Inu SHIB was down by 4.74 per cent to $0.00001315.

Decentralised Finance

DeFi coin was trading at $0.01921, up by 7.85 per cent.

Yearn.Finance YFI was down by 3.49 per cent to $4,791.36 in the last 24 hours. Its 24-hour trading volume was $8.55 million.