Crypto Market Gains Marginally, Trading Volume Rises 24.61 Per Cent

The global crypto market increased marginally on Tuesday. The total market cap was up by 0.57 per cent to $2.56 trillion, while the total trading volume was up by 24.61 per cent to $82.02 billion. Notcoin NOT was the most trending cryptocurrency. It was up by 9.20 per cent to $0.02317. Its 24-hour trading volume was $1.82 Billion. Dog•Go•To•The•Moon DOG was the top gainer. It was up by 27.17 per cent. Its 24-hour trading volume was $87.46 Billion. Bitget Token BGB was the top loser. It was down by 5.37 per cent. Its 24-hour trading volume was $91.67 million.

DeFi was down by 0.18 per cent to $5.67 billion, Coinmarketcap.com reported.

Also Read: Ethereum's Linea Blockchain Pause Highlights Slow Progress In Decentralizing Layer-2 Networks

Rajagopal Menon, VP, WazirX said, "Ethereum is hovering around its 50-day Exponential Moving Average, a key support level. Technical indicators are turning positive, with the stochastic indicator suggesting a potential bullish trend. However, a drop below $3,641.82 could signal a bearish correction, targeting $3,360.31."

He further mentioned, "Bitcoin is testing a critical resistance level at $69,110.00. Surpassing this level could push Bitcoin higher, with initial targets of $70,645.00 and possibly extending to $73,800.00. The bullish outlook for Bitcoin remains valid as long as it stays above $67,080.00."

He added, "Market optimism is bolstered by the Federal Reserve's upcoming policy meeting, with expectations that interest rates will remain steady. Investors are hopeful that potential rate cuts in the coming months could further support the crypto market."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was up by 1.12 per cent to $69,158.39. Its 24-hour trading volume was $30.13 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 down by 0.85 per cent to $3,771.75 from the previous day. Its 24-hour trading volume was $14.18 billion. Ethereum’s market dominance was 18.1 per cent.

Tether: Tether USDT was trading at $0.9997. It was up by 0.08 per cent. Its 24-hour trading volume was $64.01 billion. It is ranked third on Coinmarketcap.

Other Altcoin

Solana SOL was up by 2.23 per cent to $166.85. Its 24-hour trading volume was $2.06 billion.

Avalanche AVAX was trading at $35.11, up by 0.25 per cent. Its 24-hour trading volume was $361.97 million.

Cardano ADA was down by 2.70 per cent to $0.4594 from the previous day. Its 24-hour trading volume was $308.39 million.

Meme Coins

Dogecoin DOGE was down by 0.71 per cent, with a 24-hour price of $0.1584.

Shiba Inu SHIB was down by 3.84 per cent to $0.0000237.

Decentralised Finance

DeFi coin was trading at $0.05641, the same as yesterday.

Yearn.Finance YFI was down by 1.08 per cent to $7,012.08 in the last 24 hours. Its 24-hour trading volume was $16.32 million.