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

The global crypto market gained marginally on Friday. The total market cap was up by 0.30 per cent to $2.64 trillion, while the total trading volume was down by 18.24 per cent to $78.87 billion. Render RNDR was the most trending cryptocurrency. It was down by 0.76 per cent to $9.17. Its 24-hour trading volume was $131.77 million. Bittensor TAO was the top gainer. It was up by 9.43 per cent. Its 24-hour trading volume was $526.05 million. Pendle PENDLE was the top loser. It was down by 6.45 per cent. Its 24-hour trading volume was $203.36 million.

Sathvik Vishwanath, Co-Founder & CEO, Unocoin said, "BTC rose 2.5% in the last 24 hours to reach $70,561, while the broader crypto market gained 1.5%. Despite a 6.5% weekly gain, BTC is down 2% for the month. Expectations of an inflation-driven Fed rate cut, and the upcoming weekly halving are fueling optimism for further gains. Technical indicators such as the 30-day moving average and the relative strength index signal rising momentum without overbought conditions. Converging resistance and support levels indicate a significant move forward, likely due to a halving. Short-term selling is expected after the halving, but long-term price appreciation is expected due to reduced supply. With BTC only 4% away from its all-time high, projections suggest it could reach $75,000 by May and $80,000-$90,000 by Q3 2024."

DeFi was down by 0.63 per cent to $7.51 billion, Coinmarketcap.com reported.

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Cryptocurrency Prices

Bitcoin: Bitcoin BTC was up by 0.66 per cent to $69,298.29. Its 24-hour trading volume was $30.32 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 53.0 per cent.

Ethereum: Ethereum ETH was down by 0.45 per cent to $3,543.75 from the previous day. Its 24-hour trading volume was $13.70 billion. Ethereum’s market dominance was 16.1 per cent.

Tether: Tether USDT was trading at $1.00. It was up by 0.01 per cent. Its 24-hour trading volume was $56.72 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was up by 0.93 per cent to $177.69. Its 24-hour trading volume was $2.67 billion.

Avalanche AVAX was trading at $46.77, up by 0.21 per cent. Its 24-hour trading volume was $355.64 million.

Cardano ADA was up by 2.90 per cent to $0.5894 from the previous day. Its 24-hour trading volume was $331.36 million.

Meme Coins

Dogecoin DOGE was up by 1.64 per cent, with a 24-hour price of $0.1994.

Shiba Inu SHIB was down by 0.04 per cent to $0.00002771.

Decentralised Financ

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

Yearn.Finance YFI was up by 0.97 per cent to $8,480.04 in the last 24 hours. Its 24-hour trading volume was $21.79 million in the last 24 hours.