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

The global crypto market Gained marginally on Friday. The total market cap was up by 0.00 per cent to $1.96 trillion, while the total trading volume was down by 10.44 per cent to 74.72 billion. Dymension DYM was the most trending cryptocurrency. It was down by 1.90 per cent to $7.19. Its 24-hour trading volume was 82.18 million. Axelar AXL was the top gainer, up by 19.49 per cent. Its 24-hour trading volume was $1.53. Immutable IMX was the top loser, down by 5.35 per cent. Its 24-hour trading volume was $3.20.

Sathvik Vishwanath, Co-Founder & CEO, Unocoin said "NVIDIA's exceptional fourth-quarter earnings, soaring to $60.9 billion, spotlight its AI and data center prowess, stirring speculation about Bitcoin's trajectory. This surge underscores the convergence of tech innovation and the crypto realm. The revenue leap reflects burgeoning demand for AI and computing, fueling interest in Bitcoin's potential upswing. With resistance at $52,875, $54,646, and $56,477, and support at $50,823, $49,227, and $47,707, Bitcoin's trend leans cautiously bearish. The RSI at 42.76 suggests moderate momentum, while the 50-day EMA may offer dynamic support. Despite the invisible MACD limiting trend insight, NVIDIA's triumph suggests transformative shifts in Bitcoin investment strategies amid escalating tech-crypto synergy."

DeFi was up by 2.12 percent to $5.62 billion, Coinmarketcap.com reported.

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Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 0.98 per cent to $51,133.59. Its 24-hour trading volume was $24.63 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 51.6 per cent.

Ethereum: Ethereum ETH was up by 0.77 per cent to $2,955.52 from the previous day. Its 24-hour trading volume was $17.92 billion. Ethereum’s market dominance was 18.2 per cent.

Tether: Tether USDT was trading at $0.9998, down by 0.00 per cent. Its 24-hour trading volume was 55.08 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was down by 1.29 per cent to $102.49. Its 24-hour trading volume was $1.81 billion.

Avalanche AVAX was trading at $36.56, down by 1.02 per cent. Its 24-hour trading volume was $457.86.

Cardano ADA was up by 0.32 per cent to $0.5887 from the previous day. Its 24-hour trading volume was $504.32 million.

Meme Coins

Dogecoin DOGE was up by 0.12 per cent, with a 24-hour price of $0.08413.

Shiba Inu SHIB was down by 0.29 per cent to $0.000009529.

Decentralised Finance

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

Yearn.Finance YFI was up by 0.18 per cent to $7,464.06 in the last 24 hours. Its 24-hour trading volume was $14.85 million.