Crypto Market Gains Marginally Even As Trading Volume Dips, Bitcoin Down, Ethereum Up

The global crypto market gained marginally on Thursday. The total market cap was up by 0.12 per cent to $2.63 trillion, while the total trading volume was down by 11.50 per cent to $79.79 billion. Notcoin NOT was the most trending cryptocurrency. It was down by 3.95 per cent to $0.02169. Its 24-hour trading volume was $1.72 billion. Mantle MNT was the top gainer. It was up by 7.29 per cent. Its 24-hour trading volume was $119.81 million. Core CORE was the top loser. It was down by 7.21 per cent. Its 24-hour trading volume was $76.91 million.

DeFi was up by 4 per cent to $5.89 billion, Coinmarketcap.com reported.

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Rajagopal Menon, vice-president, WazirX said: “Bitcoin surged past the $71,000 mark, indicating potential for further growth amidst robust trading volumes. This rally signifies renewed interest and optimism, supported by several key technical indicators.”

He added: “A weaker dollar this week has provided a boost to crypto markets. Cryptocurrency has broken out of its recent $60,000-70,000 trading range, and is now just $3,000 shy of a new record high. The recent months saw Bitcoin’s price constrained by profit-taking, high interest rates, and tempered enthusiasm over Bitcoin exchange-traded funds (ETFs). However, the prospect of lower interest rates this year appears to be reigniting interest in the cryptocurrency market.”

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 0.14 per cent to $70,980.69. Its 24-hour trading volume was $28.81 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 53.1 per cent.

Ethereum: Ethereum ETH was up by 1.38 per cent to $3,850.39 from the previous day. Its 24-hour trading volume was $14.28 billion. Ethereum’s market dominance was 17.3 per cent.

Tether: Tether USDT was trading at $1. It was down by 0.01 per cent. Its 24-hour trading volume was $61.66 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was up by 0.80 per cent to $172.33. Its 24-hour trading volume was $1.98 billion.

Avalanche AVAX was trading at $36.20, down by 0.26 per cent. Its 24-hour trading volume was $298.32 million.

Cardano ADA was down by 0.81 per cent to $0.4586 from the previous day. Its 24-hour trading volume was $275.18 million.

Meme Coins

Dogecoin DOGE was down by 0.40 per cent, with a 24-hour price of $0.1619.

Shiba Inu SHIB was down by 0.15 per cent to $0.00002566.

Decentralised Finance

DeFi coin was trading at $0.06021, up by 4.46 per cent.

Yearn.Finance YFI was down by 0.05 per cent to $7,092.15 in the last 24 hours. Its 24-hour trading volume was $19.39 million.