Crypto Market Surges Marginally, Trading Volume Dips 32.81%

The global crypto market increased marginally on Friday. The total market cap was up by 3.76 per cent to $2.23 trillion, while the total trading volume was down by 32.81 per cent to $71.42 billion. Mina MINA was the most trending cryptocurrency. It was up by 5.51 per cent to $0.8163. Its 24-hour trading volume was $19.21 million. Arweave AR was the top gainer. It was up by 22.62 per cent. Its 24-hour trading volume was $192.16 million. Cosmos ATOM was the top loser. It was down by 0.79 per cent. Its 24-hour trading volume was $170.71 million.

DeFi was up by 4.24 per cent to $6.00 billion, Coinmarketcap.com reported.

Also Read: BlackRock's Bitcoin ETF Experiences Initial Outflow In Face Of Record ETF Redemptions

Sathvik Vishwanath, Co-Founder & CEO, Unocoin said, "Bitcoin remains resilient above $57,000 despite a $37 million outflow from BlackRock's IBIT ETF, suggesting a shift in sentiment. Immediate resistance is at $61,700, while support is held at $56,625. With a relative strength index (RSI) of 44, the market appears neutral. Trading below the 50-day EMA of $61,500 indicates a potential bearish bias. On the 4-hour chart, Bitcoin is hitting resistance at $59,570, which was a barrier earlier. Failure to cross it could lead to a decline towards $56,600 or below, with $55,000 being the decisive level. Conversely, a break above $59,570 could target resistance at $61,500 and $64,650, signaling bullish sentiment. Bitcoin's market position depends on sustaining or breaking the $59,570 pivot point"

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was up by 3.92 per cent to $59,537.53. Its 24-hour trading volume was $30.11 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 3.06 per cent to $2,999.05 from the previous day. Its 24-hour trading volume was $12.45 billion. Ethereum’s market dominance was 16.5 per cent.

Tether: Tether USDT was trading at $1.00. It was up by 0.09 per cent. Its 24-hour trading volume was $51.60 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was up by 7.44 per cent to $140.16. Its 24-hour trading volume was $3.32 billion.

Avalanche AVAX was trading at $32.57, up by 3.90 per cent. Its 24-hour trading volume was $321.16 million.

Cardano ADA was up by 3.07 per cent to $0.4582 from the previous day. Its 24-hour trading volume was $303.58 million.

Meme Coins

Dogecoin DOGE was up by 7.05 per cent, with a 24-hour price of $0.134.

Shiba Inu SHIB was up by 5.82 per cent to $0.0000232.

Decentralised Finance

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

Yearn.Finance YFI was up by 2.02 per cent to $6,894.76 in the last 24 hours. Its 24-hour trading volume was $16.70 million.