The global crypto market increased marginally on Friday. The total market cap rose by 6.57 per cent to $2.14 trillion, while the total trading volume slumped by 5.14 per cent to $93.58 billion.
Bitcoin was up by 7.14 per cent, and Ethereum, was up by 10.16 per cent. Bitcoin BTC was the most trending cryptocurrency, while Sui SUI was the top gainer and Aave AAVE was the top loser.
The global crypto market increased marginally on Friday. The total market cap rose by 6.57 per cent to $2.14 trillion, while the total trading volume slumped by 5.14 per cent to $93.58 billion.
Bitcoin BTC was the most trending cryptocurrency. But it was up by 7.14 per cent to $61.074.11. Its 24-hour trading volume was $42.94 billion. Sui SUI was the top gainer. It was up by 28.19 per cent. Its 24-hour trading volume was $370 million. Aave AAVE was the top loser. It was down by 3.62 per cent. Its 24-hour trading volume was $226.97 million.
DeFi was also up by 5.04 per cent to $4.12 billion, according to the report by coinmarketcap.com.
Sathvik Vishwanath, Co-Founder & CEO of Unocoin stated, ‘‘Bitcoin newcomers are currently experiencing significant unrealized losses, with 93% of those losses attributed to short-term holders (STH). This is reminiscent of the distress seen during the FTX collapse. A recent Glassnode report highlights that 97% of the losses are borne by STHs, which were hit hard by the recent BTC price drop to $49,500. STH has been holding its largest unrealized losses since the FTX crisis, reflecting previous market selloffs. Only 7% of STH holdings are profitable, indicating significant financial stress among recent buyers. Additionally, Indian users can buy, sell and trade XDC Network on the Unocoin exchange.’’
Cryptocurrency Prices
Bitcoin: Bitcoin BTC was up by 7.14 per cent to $61.074.11. Its 24-hour trading volume was 42.94 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 56.4 per cent.
Ethereum: Ethereum ETH was also up by 10.16 per cent to $2,673.43 from the previous day. Its 24-hour trading volume was $22.79 billion. Ethereum’s market dominance was 15.1 per cent.
Tether: Tether USDT was trading at $1.00. It was down by 0.01 per cent. Its 24-hour trading volume was $70.10 billion. It was ranked third on Coinmarketcap.
Other Altcoins
Solana SOL was also up by 2.87 per cent to $154.24. Its 24-hour trading volume was $4.77 billion.
Avalanche AVAX was trading at $21.82, which increased by 5.26 per cent. Its 24-hour trading volume was $286.9 million.
Cardano ADA was up by 3.81 per cent to $0.3479 from the previous day. Its 24-hour trading volume was $320.6 million.
Meme Coins
Dogecoin DOGE rose by 5.06 per cent, with a 24-hour price of $0.1047.
Shiba Inu SHIB was also up by 4.72 per cent to $0.00001393.
Decentralised Finance
DeFi coin was trading at $0.02534, down by 1.64 per cent.
Yearn.Finance YFI has increased by 2.27 per cent to $5,101.94 in the last 24 hours. Its 24-hour trading volume was $12.17 million.