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

The global crypto market rises marginally on Wednesday. The total market cap was up by 2.82 per cent to $2.17 trillion whereas the total trading volume was down by 24.75 per cent to $66.32 billion. Bitcoin BTC was the most trending. It was up by 3.50 per cent to $59,302.73. Its 24-hour trading volume was $28.68 million. Celestia TIA was the top gainer. It was up by 19.33 per cent. Its 24-hour trading volume was $248.72 million. Pepe PEPE was the top loser. It was down by 2.03 per cent. Its 24-hour trading volume was $665.66 million.

DeFi was up by 3.67 per cent to $3.70 billion, Coinmarketcap.com reported.

Also Read: Hackers Target Centralized Exchanges: $1.4 Billion Worth in Crypto Exploits in 2024

Sathvik Vishwanath, Co-Founder & CEO, Unocoin said, "Bitcoin recently rose 6% to $56,856.61, recovering from a low of $53,717.34 after a significant selloff. This recovery boosted investor confidence amid turbulent market conditions. Analysts are bullish on potential new growth, citing oversold signals ahead of a recovery. Institutional interest remains strong, as evidenced by US Bitcoin ETFs, which saw net inflows of $438 million over two days. The recent price volatility stems in part from payouts by the managers of Mt. Gox and the German government's bitcoin sales. Technical indicators such as the RSI and moving averages indicate an uptrend, with a potential golden cross indicating further price support and a shift in market momentum."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was up by 3.50 per cent to $59,302.73. Its 24-hour trading volume was 28.68 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 53.5 per cent.

Ethereum: Ethereum ETH was up by 1.50 per cent to $3,117.99 from the previous day. Its 24-hour trading volume was $14.87 billion. Ethereum’s market dominance was 17.9 per cent.

Tether: Tether USDT was trading at $1.00. It was up by 0.01 per cent. Its 24-hour trading volume was $51.27 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was up by 2.93 per cent to $144.75 Its 24-hour trading volume was $2.31 billion.

Avalanche AVAX was trading at $27.21, up by 7.15 per cent. Its 24-hour trading volume was $283.61 million.

Cardano ADA was up by 3.81 per cent to $0.3847 from the previous day. Its 24-hour trading volume was $257.42 million.

Meme Coins

Dogecoin DOGE was up by 1.55 per cent, with a 24-hour price of $0.1096.

Shiba Inu SHIB was up by 2.20 per cent to $0.00001683

Decentralised Finance

DeFi coin was trading at $0.03624, down by 1.61 per cent.

Yearn.Finance YFI was up by 1.18 per cent to $5,852.14 in the last 24 hours. Its 24-hour trading volume was $12.02 million.