Crypto Market Rises Marginally, Trading Volume Gains 49.81%; Bitcoin Up, Ethereum Down

The global crypto market increased marginally on Tuesday. The total market cap was up by 0.35 per cent to $2.27 trillion, while the total trading volume was up by 49.81 per cent to $71.76 billion. Pepe PEPE was the most trending cryptocurrency. It was up by 3.42 per cent to $0.000007908. Its 24-hour trading volume was $326.89 million. Lido DAO LDO was the top gainer. It was up by 2.30 per cent. Its 24-hour trading volume was 64.89 million. dogwifhat WIF was the top loser. It was down by 10.83 per cent. Its 24-hour trading volume was $585.28 million.

DeFi was down by 1.73 per cent to $6.04 billion, Coinmarketcap.com reported.

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Rajagopal Menon, VP, WazirX said, "Bitcoin (BTC) has experienced a gradual decline from its peak of $72,800, currently at $62,535. Despite reduced selling pressure, BTC struggles to maintain closure above average. Following a post-FED interest rate decision recovery attempt, renewed selling pressure emerged. Finding support at EMA100, BTC encounters short-term resistance at $61,490, $62,680, and $63,161, with support levels at $60,338, $60k, and EMA200 at $53,087."

He mentioned, "Despite the recent market downturn, SOL maintains strong support, testing the $150 mark and the dynamic 50-day EMA. Holding above the 50% Fibonacci level, SOL exhibits potential for an inverted head-and-shoulder pattern, with $150 as the neckline. Priced at $146 with a 1.25% intraday increase, rising volumes suggest a possible uptrend continuation."

He further added, "Ethereum (ETH), valued at $353 billion, surged past $4k in March but now faces persistent selling pressure. Trading at $2,945.2, up by 2.56%, ETH struggles to surpass moving averages amidst a slowed downtrend. Repeated tests of the $2,858.2 support indicate ongoing challenges in recovery amid sustained selling pressure."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was up by 0.32 per cent to $61,867.72. Its 24-hour trading volume was $28.47 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 down by 0.43 per cent to $2,913.60 from the previous day. Its 24-hour trading volume was $12.32 billion. Ethereum’s market dominance was 16.5 per cent.

Tether: Tether USDT was trading at $0.9996. It was down by 0.03 per cent. Its 24-hour trading volume was $52.40 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was up by 3.21 per cent to $145.99. Its 24-hour trading volume was $2.38 billion.

Avalanche AVAX was trading at $32.43, down by 1.77 per cent. Its 24-hour trading volume was $365.45 million.

Cardano ADA was down by 1.63 per cent to $0.4357 from the previous day. Its 24-hour trading volume was $350.31 million.

Meme Coins

Dogecoin DOGE was down by 6.99 per cent, with a 24-hour price of $0.1505.

Shiba Inu SHIB was up by 2.31 per cent to $0.00002359.

Decentralised Finance

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

Yearn.Finance YFI was down by 1.10 per cent to $6,619.72 in the last 24 hours. Its 24-hour trading volume was $15.74 million.