Crypto Market Rises Marginally, Trading Volume fall 25.42%; Bitcoin, Ethereum Up

The global crypto market gained marginally on Friday. The total market cap was up by 2.32 per cent to $1.65 trillion, while the total trading volume was down by 25.42 per cent to $48.12 billion. Jupiter JUP was the most trending cryptocurrency. It was down by 1.13 per cent to $0.586. Its 24-hour trading volume was $654.57 million. Pyth Network PYTH was the top gainer, up by 28.45 per cent. Its 24-hour trading volume was $0.0005305. SATS 1000SATS was the top loser, down by 12.00 per cent. Its 24-hour trading volume was $0.0004716.

Sathvik Vishwanath, co-founder & CEO, Unocoin said "Bitcoin's price, resilient around $42,000 despite a recent 2% dip, reflects global financial dynamics. The Fed's decision to maintain rates at 5.25%-5.50% and China's policy adjustments contribute to the narrative. El Salvador's steadfast support for Bitcoin, Kiyosaki's advocacy, and US scrutiny of crypto mining's energy usage add layers to the discussion,"

He added, "While the Fed's cautious stance fuels speculation, El Salvador's defiance of IMF reservations shapes sentiment. Kiyosaki's endorsement could sway public perception, while US scrutiny aims to regulate energy-intensive mining practices. Bitcoin faces resistance at $43,922, $45,229, and $46,446, with support at $40,790, $39,006, and $37,514, highlighting pivotal levels for price action. Despite the RSI indicating neutral momentum, the MACD signals a bearish trajectory, especially below $42,185."

DeFi was up by 0.62 per cent to $5.30 billion, Coinmarketcap.com reported.

Also Read: US Lawmakers Push Back On Proposed CFPB Rule, Highlighting Potential Crypto Impact

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was up by 2.31 per cent to $43,149.97. Its 24-hour trading volume was $19.52 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 51.3 per cent.

Ethereum: Ethereum ETH was up by 1.67 per cent to $2,307.38 from the previous day. Its 24-hour trading volume was $7.89 billion. Ethereum's market dominance was 16.8 per cent.

Tether: Tether USDT was trading at $0.9996, down by 0.02 per cent. Its 24-hour trading volume was $34.19 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was up by 5.92 per cent to $99.39 Its 24-hour trading volume was $3.92 billion.

Avalanche AVAX was trading at $34.19, up by 3.19 per cent. Its 24-hour trading volume was $462.95 million.

Cardano ADA was up by 3.17 per cent to $0.4912 from the previous day. Its 24-hour trading volume was $338.75 million.

Meme Coins

Dogecoin DOGE was up by 1.20 per cent, with a 24-hour price of $0.07983.

Shiba Inu SHIB was up by 2.05 per cent to $0.00000907.

Decentralised Finance

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

Yearn.Finance YFI was up by 0.93 per cent to $7,139.67 in the last 24 hours. Its 24-hour trading volume was $14.00 million.