Crypto Market Increases Marginally, Trading Volume Dips

The global crypto market increased marginally on Friday. The total market cap was up by 2.75 per cent to $2.43 trillion, while the total trading volume was down by 2.77 per cent to $74.41 billion. GameStop GME was the most trending cryptocurrency. It was up by 60.44 per cent to $0.01955. Its 24-hour trading volume was $176.00 million. Floki FLOKI was the top gainer. It was up by 10.77 per cent. Its 24-hour trading volume was $789.40 million. WorldCoin WLD was the top loser. It was down by 9.30 per cent. Its 24-hour trading volume was $612.65 million.

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

Also Read: Tether and TON Partner on Mobile App for USDT-to-Fiat Transactions

Rajagopal Menon, VP, WazirX said, "Bitcoin has surged above $66,000, driven by inflows to spot ETFs and positive US economic data. Analysts anticipate this upward momentum will continue, potentially pushing BTC past its all-time high of $74,000 next week, spurred by rising institutional demand and increased risk appetite. After recovering from a recent market correction, Bitcoin has shown resilience, climbing from the $62k region to the $66k territory. Despite facing stiff rejection at $66,861, BTC remains bullish, gaining over 4% on weekly and monthly charts."

He further mentioned," Cryptos are stuck in a narrow range amid BTC fluctuations. Currently trading at $7.48, UNI Coin moves towards resistance at $8.35, with support at $6.73. Significant breakouts are expected if these levels are breached. Whale interest in UNI Coin shows weakness, with daily transactions over $100,000 decreasing by 44% and those over $1 million down 50% over 30 days. Trading volume has also declined by 48%."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was up by 2.30 per cent to $66,919.28. Its 24-hour trading volume was $27.34 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 52.7 per cent.

Ethereum: Ethereum ETH was up by 5.38 per cent to $3,105.63 from the previous day. Its 24-hour trading volume was $14.48 billion. Ethereum’s market dominance was 15.3 per cent.

Tether: Tether USDT was trading at $1.00. It was up by 0.03 per cent. Its 24-hour trading volume was $55.94 billion. It is ranked third on Coinmarketcap.

Meme Coins

Dogecoin DOGE was up by 4.04 per cent, with a 24-hour price of $0.1561.

Shiba Inu SHIB was up by 2.36 per cent to $0.00002494.

Decentralised Finance

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

Yearn.Finance YFI was up by 3.49 per cent to $6,776.43 in the last 24 hours. Its 24-hour trading volume was $20.27 million.