Cryptocurrency

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

Bitcoin was down by 1.16 per cent, while Ethereum was down by 0.29 per cent. Smidge SMIDGE was the most trending, while Kaspa KAS was the top gainer and Brett (Based) BRETT was the top loser.

Crypto Market Dips Marginally
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The global crypto market Declines marginally on Thursday. The total market cap was down by 0.92 per cent to $2.25 trillion, even as the total trading volume was down by 13.32 per cent to $56.6 billion. Smidge SMIDGE was the most trending. It was down by 5.58 per cent to $0.5489. Its 24-hour trading volume was $834.57 million. Kaspa KAS was the top gainer. It was up by 10.55 per cent. Its 24-hour trading volume was $148.10 million. Brett (Based) BRETT was the top loser. It was down by 8.59 per cent. Its 24-hour trading volume was $49.27 million.

DeFi was down by 1.08 per cent to $4.17 billion, Coinmarketcap.com reported.

Rajagopal Menon, VP, WazirX said, "Bitcoin, priced above $60,000, has dipped 1.68% in the past day amidst notable selling pressure. The RSI suggests potential buying near oversold levels, aiming for a rebound to $65,000 or even $70,000 with increased buying. Conversely, breaching $60,000 risks a bearish trend toward $57,000 support."

He further mentioned, "BTC/USD technical indicators reveal the hourly MACD gaining bearish momentum, while the RSI below 50 signals weakening buying strength. Key supports are at $60,500 and $60,000, with resistances at $62,000 and $62,500."

He added, "XRP's reversal since June 24 faltered against the 26 EMA, indicating subdued momentum and buying interest. The 26 EMA remains a critical resistance for any bullish moves, with XRP's RSI hovering in the neutral 40-50 range, potentially prompting a retest of $0.46 support amid ongoing downward pressure."

At last, "SOL trades at $136, down 1.54%, rebounding consistently from the $122.5 support. Despite recent declines, SOL could target $141 and $158 in a positive scenario, yet prolonged selling could push it toward $107 and $98. SOL's trajectory heavily hinges on BTC's movement."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 1.16 per cent to $60,893.20. Its 24-hour trading volume was $21.62 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 53.4per cent.

Ethereum: Ethereum ETH was down by 0.28 per cent to $3,370.41 from the previous day. Its 24-hour trading volume was $11.44 billion. Ethereum’s market dominance was 17.9 per cent.

Tether: Tether USDT was trading at $0.9994. It was down by 0.03 per cent. Its 24-hour trading volume was $42.92 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was down by 0.23 per cent to $136.13. Its 24-hour trading volume was $1.47 billion.

Avalanche AVAX was trading at $25.66, up by 0.26 per cent. Its 24-hour trading volume was $341.25 million.

Cardano ADA was down by 2.66 per cent to $0.3793 from the previous day. Its 24-hour trading volume was $250.44 million.

Meme Coins

Dogecoin DOGE was down by 3.44 per cent, with a 24-hour price of $0.1212.

Shiba Inu SHIB was down by 3.52 per cent to $0.00001704.

Decentralised Finance

DeFi coin was trading at $0.0415, up by 6.65 per cent.

Yearn.Finance YFI was up by 0.80 per cent to $5,856.74 in the last 24 hours. Its 24-hour trading volume was $12.99 million.