Crypto Market Increased Marginally, Trading Volume Gains; Bitcoin, Ethereum Up

The global crypto market Increased marginally on Tuesday. The total market cap was up by 6.72 per cent to $2.6 trillion, while the total trading volume was up by 131.51 per cent to $131.75 billion. Notcoin NOT was the most trending cryptocurrency. It was up by 2.76 per cent to $0.005724. Its 24-hour trading volume was $171.58 million. Lido DAO was the top gainer. It was up by 29.72 per cent. Its 24-hour trading volume was $343.00 million. Arweave AR was the top loser. It was down by 7.04 per cent. Its 24-hour trading volume was $185.99 million.

DeFi was down by 1.35 per cent to $5.47 billion, Coinmarketcap.com reported.

Also Read: Bitcoin Needs To Reach $93,000 To Surpass Silver

Rajagopal Menon, VP, WazirX said, "Ethereum surged 9% in a strong day for cryptocurrencies. This move comes as investors keep a close eye on the U.S. Securities and Exchange Commission (SEC) for potential approvals of spot Ethereum ETFs. The broader market joined the rally, with the total market cap breaking through $2.5 trillion, a gain of over 6% in a single day."

He further mentioned, "Bitcoin also saw a significant upswing, rising 6% on the back of renewed buying pressure and a rise in investment flowing into spot Bitcoin ETFs. This positive sentiment seems to defy recent anxieties surrounding Bitcoin's historical tendency to remain in a consolidation phase during this period. Overall, the market is experiencing a surge in optimism, shaking off earlier skepticism."

Rajagopal Menon, VP, WazirX said, "Ethereum surged 9% in a strong day for cryptocurrencies. This move comes as investors keep a close eye on the U.S. Securities and Exchange Commission (SEC) for potential approvals of spot Ethereum ETFs. The broader market joined the rally, with the total market cap breaking through $2.5 trillion, a gain of over 6% in a single day."

He further mentioned, "Bitcoin also saw a significant upswing, rising 6% on the back of renewed buying pressure and a rise in investment flowing into spot Bitcoin ETFs. This positive sentiment seems to defy recent anxieties surrounding Bitcoin's historical tendency to remain in a consolidation phase during this period. Overall, the market is experiencing a surge in optimism, shaking off earlier skepticism."

Other Altcoins

Solana SOL was up by 2.53 per cent to $181.83. Its 24-hour trading volume was $4.89 billion.

Avalanche AVAX was trading at $40.78, up by 12.00 per cent. Its 24-hour trading volume was $789.61 million.

Cardano ADA was up by 4.03 per cent to $0.4959 from the previous day. Its 24-hour trading volume was $607.66 million.

Meme Coins

Dogecoin DOGE was up by 5.94 per cent, with a 24-hour price of $0.1618.

Shiba Inu SHIB was up by 4.08 per cent to $0.00002527.

Decentralised Finance

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

Yearn.Finance YFI was up by 3.74 per cent to $7,188.00 in the last 24 hours. Its 24-hour trading volume was $27.80 million.