Crypto Market Gains Marginally, Trading Volume increases 7.21%; Bitcoin, Ethereum Up

The global crypto market declined marginally on Monday. The total market cap was up by 2.44 per cent to $1.98 trillion, while the total trading volume was up by 7.21 per cent to 68.73 billion. Kaspa KAS was the most trending cryptocurrency. It was up by 0.08 per cent to $0.1645. Its 24-hour trading volume was $44.97 million. Worldcoin WLD was the top gainer, up by 42.49 per cent. Its 24-hour trading volume was $7.34. BitTorrent (New) BTT was the top loser, down by 5.07 per cent. Its 24-hour trading volume was $0.000001142.

Sathvik Vishwanath, Co-Founder & CEO, Unocoin said, "Despite Bitcoin's recent price volatility, its resilience is evident as it hovers around $51,500. The alleged theft of 81 bitcoins worth $4.2 million by an Australian police officer highlights security concerns that are impacting investor confidence. However, a record $2.2 billion inflow into bitcoin ETFs shows growing institutional confidence. Mining difficulty exceeding 80 trillion before the upcoming halving event suggests potential market turmoil with projections of a 20% drop in the hash rate after the halving. Currently trading at $51,582, Bitcoin technical indicators remain flat, with resistance at $52,740 and support at $50,163. In addition, Bitcoin Minetrix, an Ethereum-based stake-to-mine platform that is nearing its fundraising goal, offers a unique opportunity with its dual-income model, which forces investors to act quickly before the expected increase in the price of the tokens."

DeFi was up by 2.67 per cent to $5.76 billion, Coinmarketcap.com reported.

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Cryptocurrency Prices

Bitcoin: Bitcoin BTC was up by 1.72 per cent to $52,374.75. Its 24-hour trading volume was $19.16 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 51.8 per cent.

Ethereum: Ethereum ETH was up by 4.88 per cent to $2,920.88 from the previous day. Its 24-hour trading volume was $25.60 billion. Ethereum’s market dominance was 17.7 per cent.

Tether: Tether USDT was trading at $1.00, up by 0.02 per cent. Its 24-hour trading volume was $53.12 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was up by 3.87 per cent to $112.52. Its 24-hour trading volume was $1.59 billion.

Avalanche AVAX was trading at $40.29, up by 1.33 per cent. Its 24-hour trading volume was $449.96.

Cardano ADA was up by 0.65 per cent to $0.6262 from the previous day. Its 24-hour trading volume was $601.95 million.

Meme Coins

Dogecoin DOGE was up by 2.97 per cent, with a 24-hour price of $0.08638.

Shiba Inu SHIB was up by 1.39 per cent to $0.000009832.

Decentralised Finance

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

Yearn.Finance YFI was up by 2.57 per cent to $7,895.40 in the last 24 hours. Its 24-hour trading volume was $13.50 million.