Crypto Market Rises Marginally Even As Trading Volume Dips; Bitcoin Up, Ethereum Down

The global crypto market increased marginally on Wednesday. The total market cap was up by 0.94 per cent to $2.39 trillion, even as the total trading volume was down by 6.92 per cent to $89 billion. zkSync ZK was the most trending cryptocurrency. It was up by 6.09 per cent to $0.2219. Its 24-hour trading volume was $755.17 million. Lido DAO was the top gainer. It was up by 21.59 per cent. Its 24-hour trading volume was 306.52 million. Toncoin TON was the top loser. It was down by 5.81 per cent. Its 24-hour trading volume was 418.11 million.

DeFi was up by 0.91 per cent to $6.62 billion, Coinmarketcap.com reported.

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Sathvik Vishwanath, Co-Founder & CEO, Unocoin said, "BTC fell 0.5% to $65,617 in the last day, with a weekly loss of 2.5% and 5% over two weeks. BTC is still up 146% year-to-date, boosted by demand for ETFs, and has rebounded from the $64,500 support level. Indicators such as a rising RSI indicate renewed momentum. Whales are accumulating BTC, anticipating a recovery potentially fueled by the upcoming Ethereum ETF and a possible Fed rate cut by winter. BTC could climb to $70,000 by the end of the summer and $80,000 by the New Year."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 0.28 per cent to $65,437.33. Its 24-hour trading volume was $35.27 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 54.2 per cent.

Ethereum: Ethereum ETH was up by 3.35 per cent to $3,559.46 from the previous day. Its 24-hour trading volume was $19.43 billion. Ethereum’s market dominance was 18.3 per cent.

Tether: Tether USDT was trading at $0.9998. It was down by 0.02 per cent. Its 24-hour trading volume was $68.37 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was up by 2.56 per cent to $140.41. Its 24-hour trading volume was $3.09 billion.

Avalanche AVAX was trading at $27.17, up by 2.40 per cent. Its 24-hour trading volume was 313.92 million.

Cardano ADA was up by 3.83 per cent to $0.3945 from the previous day. Its 24-hour trading volume was $421.67 million.

Meme Coins

Dogecoin DOGE was up by 3.50 per cent, with a 24-hour price of $0.1261.

Shiba Inu SHIB was up by 4.28 per cent to $0.00001889.

Decentralised Finance

DeFi coin was trading at $0.04486, up by 8.56 per cent.

Yearn.Finance YFI was up by 4.41 per cent to $5,958.01 in the last 24 hours. Its 24-hour trading volume was $33.61 million.