Cryptocurrency

Crypto Market Dips Marginally, Trading Volume Also Declines; Bitcoin, Ethereum Down

Bitcoin was down by 2.53 per cent, while Ethereum was down by 4.32 per cent. Saga SAGA was the most trending cryptocurrency, while Nervous Network CKB was the top gainer and dogwifhat WIF was the top loser

Crypto Market Dips Marginally
info_icon

The global crypto market declined marginally on Wednesday with all major coins trading in the red. The total market cap was down by 3.01 per cent to $2.6 trillion, while the total trading volume was down by 2.33 per cent to $99.59 billion.

Saga SAGA was the most trending cryptocurrency. It was up by 16.94 per cent to $1.37. Its 24-hour trading volume was $1.39 billion. Nervous Network CKB was the top gainer. It was up by 39.33 per cent. Its 24-hour trading volume was $996.56 million. dogwifhat WIF was the top loser. It was up by 2.31 per cent. Its 24-hour trading volume was $340.33 million.

Sathvik Vishwanath, co-founder and CEO, Unocoin said, “The post-May period could offer a more favourable business environment after the pace of quantitative tightening and potential fiscal stimulus eases. Today, the price of Bitcoin fell to $69,115, breaking the support of the ascending channel, indicating a potential shift in market sentiment. Technical analysis reveals resistance levels at $71,425, $72,740 and $73,775, with immediate support at $67,525. The relative strength index (RSI) at 33 indicates bearish momentum, while the 50-day exponential moving average (EMA) at $69,725 underscores the current market uncertainty.”

DeFi was up by 2.04 per cent to $9.72 billion, Coinmarketcap.com reported.

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 2.53 per cent to $69,298.29. Its 24-hour trading volume was $36.56 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 52.6 per cent.

Ethereum: Ethereum ETH was down by 4.32 per cent to $3,534.56 from the previous day. Its 24-hour trading volume was $17.86 billion. Ethereum’s market dominance was 16.3 per cent.

Tether: Tether USDT was trading at $0.9999. It was down by 0.01 per cent. Its 24-hour trading volume was $70.81 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was down by 1.71 per cent to $177.89. Its 24-hour trading volume was $2.82 billion.

Avalanche AVAX was trading at $47.50, down by 3.39 per cent. Its 24-hour trading volume was $454.15 million.

Cardano ADA was down by 4.22 per cent to $0.5861 from the previous day. Its 24-hour trading volume was $547.57 million.

Meme Coins

Dogecoin DOGE was down by 5.37 per cent, with a 24-hour price of $0.1897.

Shiba Inu SHIB was down by 4.48 per cent to $0.00002754.

Decentralised Finance

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

Yearn.Finance YFI was down by 2.57 per cent to $8,329.14 in the last 24 hours. Its 24-hour trading volume was $34.13 million in the last 24 hours.