Cryptocurrency

Crypto Market Dips Marginally, Trading Volume Declines

Bitcoin was down by 1.08 per cent, while Ethereum was down by 0.14 per cent. Jupiter JUP was the most trending, while Lido DAO LDO was the top gainer and dogwifhat was the top loser.

Crypto Market Dips Marginally
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The global crypto market declined marginally on Thursday. The total market cap was down by 0.89 per cent to $2.29 trillion, while the total trading volume was down by 11.79 per cent to $64.82 billion. Jupiter JUP was the most trending cryptocurrency. It was down by 1.77 per cent to $1.06. Its 24-hour trading volume was $129.75 million. Lido DAO LDO was the top gainer. It was up by 2.30 per cent. Its 24-hour trading volume was 64.89 million. dogwifhat was the top loser. It was down by 10.83 per cent. Its 24-hour trading volume was $585.28 million.

DeFi was up by 0.76 per cent to $7.28 billion, Coinmarketcap.com reported.

Rajagopal Menon, VP, WazirX said, "Bitcoin bears reign supreme as its price consequently tumbled down to $61k levels from $63k in a couple of days. With a brief low of $60900, the price is consolidating at $61662.

He added, "The next resistance lies at $62k failing to break which, the price can face a downward pressure which could eventually push it to $58k levels. If the bulls don’t take over to break this resistance, the market hurdles will persist for BTC."

He further mentioned, "Ethereum like most other altcoins is on a bearish streak echoing Bitcoin’s momentum. It has extended losses and come down below the crucial psychological $3000 mark. The price of ETH currently stands at $2997 and faces consolidation."

However, "there is a hope of a short term price surge for Ethereum if it manages to breach the $3100 levels. It has already surpassed its resistance at $2985. The next support can be anticipated at $2900. But it will be critical in deciding its future trajectory as failure to hold this level will trigger a sell off."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 1.08 per cent to $61,685.26. Its 24-hour trading volume was $24.75 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 down by 0.14 per cent to $3,003.38 from the previous day. Its 24-hour trading volume was $11.31 billion. Ethereum’s market dominance was 16.5 per cent.

Tether: Tether USDT was trading at $0.9996. It was up by 0.02 per cent. Its 24-hour trading volume was $45.55 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was down by 1.40 per cent to 145.42. Its 24-hour trading volume was $2.40 billion.

Avalanche AVAX was trading at $34.55, down by 0.26 per cent. Its 24-hour trading volume was $396.29 million.

Cardano ADA was up by 4.20 per cent to $0.4596 from the previous day. Its 24-hour trading volume was $521.18 million.

Meme Coins

Dogecoin DOGE was down by 0.75 per cent, with a 24-hour price of $0.1481.

Shiba Inu SHIB was up by 0.79 per cent to $0.00002301.

Decentralised Finance

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

Yearn.Finance YFI was up by 2.66 per cent to $7,061.44 in the last 24 hours. Its 24-hour trading volume was $15.94 million.