The global crypto market declined marginally on Saturday. The total market cap was down by 0.66 per cent to $2.43 trillion, even as the total trading volume was up by 4.88 per cent to $72.45 billion.
Biaoqing BIAO was the most trending cryptocurrency. It was down by 17.06 per cent to $0.01176 Its 24-hour trading volume was $5.63 Billion.
Akash Network AKT was the top gainer. It was up by 11.56 per cent. Its 24-hour trading volume was 47.79 million. Injective INJ was the top loser. It was down by 11.13 per cent. Its 24-hour trading volume was $192.56 million.
DeFi was down by 1.61 per cent to $5.56 billion, Coinmarketcap.com reported.
Rajagopal Menon, VP, WazirX said, "Bitcoin is currently trading at $66,199, down 0.76% in the past 24 hours. Analysts warn that breaking the $65,000 threshold could trigger a further drop to $60,000 or even $48,000. Despite the dip, there's been a surge in buying activity, marking the second-largest spike in investor interest in Bitcoin in the last two months."
He further mentioned, "Dogecoin is at a critical price junction, currently trading at $0.1428 after an 11.29% drop over the past week. However, recent whale activity indicates a potential turnaround. Large holders have accumulated over $129 million worth of DOGE in the last seven days. This surge in whale accumulation suggests growing confidence, potentially driving bullish momentum despite the recent downturn."
He added, "Crypto analysts believe Cardano (ADA) could rise to $3 this year, citing key developments like partnerships, the upcoming Chang Hard Fork, new dApps launching, and the unlocking of 1.5 billion tokens for marketing. Despite ADA's current poor performance, these factors paint a bullish picture. ADA is currently trading at $0.41, down over 2.15% in the last 24 hours."
Cryptocurrency Prices
Bitcoin: Bitcoin BTC was down by 0.72 per cent to $66,259.41. Its 24-hour trading volume was $26.64 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 54.2 per cent.
Ethereum: Ethereum ETH was up by 0.26 per cent to $3,511.37 from the previous day. Its 24-hour trading volume was $15.60 billion. Ethereum’s market dominance was 17.5 per cent.
Tether: Tether USDT was trading at $0.9994. It was down by 0.01 per cent. Its 24-hour trading volume was $54.84 billion. It is ranked third on Coinmarketcap.
Other Altcoins
Solana SOL was down by 1.40 per cent to $145.01. Its 24-hour trading volume was $2.17 billion.
Avalanche AVAX was trading at $30.35, down by 3.20 per cent. Its 24-hour trading volume was $351.74 million.
Cardano ADA was down by 2.26 per cent to $0.4122 from the previous day. Its 24-hour trading volume was $347.87 million.
Meme Coins
Dogecoin DOGE was down by 4.23 per cent, with a 24-hour price of $0.1358.
Shiba Inu SHIB was down by 3.23 per cent to $0.0000206.
Decentralised Finance
DeFi coin was trading at $0.087, down by 2.37 per cent.
Yearn.Finance YFI was down by 0.60 per cent to $6,142.23 in the last 24 hours. Its 24-hour trading volume was $16.78 million.
