Crypto Prices Marginally Down As Trading Volume Rises

The global crypto market declined on Thursday. The total market cap was down by 2.97 per cent to $1.63 trillion, whereas the total trading volume was up by 19.40 per cent to 65.58 billion. Manta Network MANTA was the most trending cryptocurrency. It was down by 3.96 per cent to $2.18. Its 24-hour trading volume was $1.23 billion, while Flare FLR was the top gainer, up by 4.55 per cent. Its 24-hour trading volume was $66.66 million. Sui SUI was the top loser, down by 15.11 per cent. Its 24-hour trading volume was $420.39 million.

"Amid a 3.76% slide in the crypto market, Bitcoin (BTC) is showing resilience and holding firm around $40,900, fueled by enthusiasm for an approved spot bitcoin ETF. Ethereum (ETH) reflects this stability and is attracting close scrutiny from analysts. JPMorgan Chase CEO Jamie Dimon's recent likening of Bitcoin to a "Pet Rock" brings short-term uncertainty that affects newcomers in particular. While the crypto community is cautiously anticipating a potential Federal Reserve interest rate cut in March and a looming Bitcoin halving in April 2024, BTC, currently at $42,620, is running into resistance at $43,288. At the same time, ETH, trading at $2,458, is tracking resistance at $2,604. Both cryptocurrencies are moving within consolidation patterns, signaling market uncertainty, with participants eagerly anticipating a potential breakout of resistance levels," Sathvik Vishwanath, Co-Founder & CEO of Unocoin said.

DeFi was down by 3.48 per cent to $5.54 Billion, Coinmarketcap.com reported.

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Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 3.45 per cent to $41,370.17. Its 24-hour trading volume was $26.83 billion. It is currently ranked number 1 on Coinmarketcap, based on the market cap. Bitcoin’s market dominance was 49.7 per cent.

Ethereum: Ethereum ETH was down by 2.49 per cent to $2,467.29 from the previous day. Its 24-hour trading volume was $11.94 billion. Ethereum’s market dominance was 18.2 per cent.

Tether: Tether USDT was down by 0.02 trading at $0.9989. Its 24-hour trading volume was 47.83 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was down by 6.45 per cent to $94.63 Its 24-hour trading volume was $2.61 billion.

Avalanche AVAX was trading at $33.52, down by 6.48 per cent. Its 24-hour trading volume was 569.10 million.

Cardano ADA was down by 4.50 per cent to $0.4989 from the previous day. Its 24-hour trading volume was 427.13 million.

Meme Coins

Dogecoin DOGE was down by 3.13 per cent, with a 24-hour price of $0.07798.

Shiba Inu SHIB was down by 3.18 per cent to $0.000009214.

Decentralised Finance

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

Yearn.Finance YFI was down by 4.28 per cent to $7,495.16 in the last 24 hours. Its 24-hour trading volume was 37.26 million.