Crypto Market Gains Marginally, Trading Volume Surges 90%; Bitcoin, Ethereum Up

The global crypto market gained marginally on Wednesday. The total market cap was up by 9.99 per cent to $2.45 trillion, while the total trading volume was up by 90.54 per cent to $149.22 billion.

Bitcoin BTC was the most trending cryptocurrency. It was up by 8.64 per cent to $74,507.86. Its 24-hour trading volume was $81.04 billion. Goatseus Maximus GOAT was the top gainer. It was up by 42.52 per cent. Its 24-hour trading volume was $251.30 million. Monero XMR was the top loser. It was down by 9.24 per cent. Its 24-hour trading volume was $58.46 million.

DeFi was down by 12.18 per cent to $5.83 billion, Coinmarketcap.com reported.

Sathvik Vishwanath, co-founder & CEO, Unocoin said, “Bitcoin hit a new all-time high of $74,400, surpassing its previous peak of $73,750 in March 2024. The rise is being fuelled by a combination of institutional investment, including major players such as Metaplanet, and growing retail interest, as indicated by increased Google Search and a shift to “extreme greed” on the Fear and Greed Index. Analysts point to a growing “Trump trade” narrative with a potential Trump victory seen as favourable for crypto, along with bullish market conditions in the fourth quarter. This rally is expected to drive altcoin prices higher, as Bitcoin’s momentum often affects the broader cryptocurrency market.”

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was up by 8.64 per cent to $74,507.86. Its 24-hour trading volume was $81.04 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 57.5 per cent.

Ethereum: Ethereum ETH was up by 6.56 per cent to $2,586.91 from the previous day. Its 24-hour trading volume was $28.79 billion. Ethereum’s market dominance was 13.3 per cent.

Tether: Tether USDT was trading at $1. It was up by 0.07 per cent. Its 24-hour trading volume was $117.23 billion. It was ranked third on Coinmarketcap.

Other Altcoins

Solana SOL increased by 15.33% to $184.47 with a 24-hour trading volume of $6.72 billion.

Avalanche (AVAX) was trading at $26.04, a rise of 13.56%, with a 24-hour trading volume ofs $431.69 million.

Cardano ADA was up by 8.70 per cent to $0.3587 from the previous day. Its 24-hour trading volume was $421.30 million.

Meme Coins

Dogecoin DOGE was up by 25.42 per cent, with a 24-hour price of $0.204.

Shiba Inu SHIB was up by 10.12 per cent to $0.00001906.

Decentralised Finance

DeFi coin was trading at $0.01823, up by 4.19 per cent.

Yearn.Finance YFI was down by 8.04 per cent to $4,795.17 in the last 24 hours. Its 24-hour trading volume was $22.49 million.