Crypto Market Gains Marginally, Trading Volume Dips 2.12 Per Cent; Bitcoin, Ethereum Up

The global crypto market increased marginally on Wednesday. The total market cap was up by 1.12 per cent to $2.58 trillion, while the total trading volume was down by 2.02 per cent to $88.81 billion. Ethena ENA was the most trending cryptocurrency. It was up by 2.49 per cent to $0.9004. Its 24-hour trading volume was $238.82 million. Notcoin NOT was the top gainer. It was up by 25.18 per cent. Its 24-hour trading volume was $1.23 Billion. Pendle PENDLE was the top loser. It was down by 6.55 per cent. Its 24-hour trading volume was $146.50 million.

DeFi was down by 0.99 per cent to $7.31 billion, Coinmarketcap.com reported.

Also Read: Bitcoin Exchange-Traded Products Accumulate Over 1 Million BTC

Sathvik Vishwanath, Co-Founder & CEO, Unocoin said, "Bitcoin's recent 2% drop, triggered by Mt.Gox coin movements, is seen as a minor setback in an otherwise uptrend, according to QCP Capital. Key factors for optimism include the strong performance of US stocks, political support and the upcoming Ether ETF. Bitcoin's critical pivot point is $68,383, with resistance at $69,566 and support at $68,127. RSI at 49.37 indicates neutral market sentiment. Fundstrat predicts that Bitcoin could reach $150,000 by the end of the year, with traders anticipating a rise above $70,000. Patience and overcoming key levels are necessary for further profits."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was up by 0.84 per cent to $68,567.87. Its 24-hour trading volume was $29.05 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 up by 0.19 per cent to $3,833.85 from the previous day. Its 24-hour trading volume was $18.71 billion. Ethereum’s market dominance was 18.1 per cent.

Tether: Tether USDT was trading at $0.9991. It was down by 0.06 per cent. Its 24-hour trading volume was $69.06 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was up by 3.23 per cent to $171.61. Its 24-hour trading volume was $3.05 billion.

Avalanche AVAX was trading at $37.14, down by 1.00 per cent. Its 24-hour trading volume was $411.14 million.

Cardano ADA was up by 1.37 per cent to $0.4626 from the previous day. Its 24-hour trading volume was $332.16 million.

Meme Coins

Dogecoin DOGE was up by 2.50 per cent, with a 24-hour price of $0.169.

Shiba Inu SHIB was up by 15.54 per cent to $0.00002877.

Decentralised Finance

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

Yearn.Finance YFI was up by 0.43 per cent to $7,237.36 in the last 24 hours. Its 24-hour trading volume was $13.45 million.