Crypto Market Gains Marginally, Trading Volume Surges 5.12%; Bitcoin, Ethereum Up

The global crypto market gained marginally on Friday. The total market cap was up by 3.30 per cent to $2.3 trillion, while the total trading volume was up by 5.12 per cent to $102.85 billion. Omni Network OMNI was the most trending cryptocurrency. It was up by 1.40 per cent to $23.74. Its 24-hour trading volume was $181.55 million. Toncoin TON was the top gainer. It was up by 6.91 per cent. Its 24-hour trading volume was $628.79 million. Maker MKR was the top loser. It was down by 4.32 per cent. Its 24-hour trading volume was $132.02 million.

Sathvik Vishwanath, Co-Founder & CEO, Unocoin said that "The price of bitcoin fell to $60,547, down 1.74%, amid market volatility, prompting traders and analysts to scrutinize updated price forecasts. Despite the decline, Bitcoin maintains its dominance with a trading volume of $40.55 billion and a market cap approaching $1.19 trillion. Technical analysis suggests barriers at $62,216, with resistance levels at $64,606, $67,695 and $70,959. The support is $59,418, the other cushions are $56,271 and $53,182. The Relative Strength Index (RSI) at 40 indicates potential oversold, while the 50-day EMA at $65,415 is strengthening resistance. Bitcoin's outlook remains bearish below $62,216 with potential momentum once it crosses that line."

DeFi was up by 0.23 per cent to $7.23 billion, Coinmarketcap.com reported.

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Cryptocurrency Prices

Bitcoin: Bitcoin BTC was up by 3.28 per cent to $62,933.11. Its 24-hour trading volume was $44.45 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 54.0 per cent.

Ethereum: Ethereum ETH was up by 2.41 per cent to $3,238.06 from the previous day. Its 24-hour trading volume was $18.42 billion. Ethereum’s market dominance was 16.6 per cent.

Tether: Tether USDT was trading at $1.00. It was up by 0.01 per cent. Its 24-hour trading volume was $76.40 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was up by 5.98 per cent to $139.55. Its 24-hour trading volume was $5.50 billion.

Avalanche AVAX was trading at $33.77, down by 0.13 per cent. Its 24-hour trading volume was $632.39 million.

Cardano ADA was down by 0.76 per cent to $0.4414 from the previous day. Its 24-hour trading volume was $491.66 million.

Meme Coins

Dogecoin DOGE was up by 0.09 per cent, with a 24-hour price of $0.147.

Shiba Inu SHIB was down by 0.17 per cent to $0.00002186.

Decentralised Finance

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

Yearn.Finance YFI was up by 0.25 per cent to $6,810.17 in the last 24 hours. Its 24-hour trading volume was $25.50 million in the last 24 hours.