Cryptocurrency

Crypto Market Dips, Trading Volume Gains 33%; Bitcoin, Ethereum Down

Bitcoin was down by 1.66 per cent, while Ethereum was down by 0.89 per cent. Hamster Kombat HMSTR was the most trending cryptocurrency, while FTX Token FTT was the top gainer and Shiba Inu Shib was the top loser

Crypto Market Dips
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The global crypto market declined marginally on Monday. The total market cap was down by 1.07 per cent to $2.27 trillion, while the total trading volume was up by 30.33 per cent to $62.37 billion. Hamster Kombat HMSTR was the most trending cryptocurrency. It was down by 1.36 per cent to $0.006079. Its 24-hour trading volume was $246 million.

FTX Token FTT was the top gainer. It was up by 43.04 per cent. Its 24-hour trading volume was $364.32 million. Shiba Inu Shib was the top loser. It was down by 4.33 per cent. Its 24-hour trading volume was $546.19 million.

DeFi was down by 0.13 per cent to $4.09 billion, Coinmarketcap.com reported.

Sathvik Vishwanath, co-founder and CEO, Unocoin said: “Several factors indicate a potential rise in Bitcoin’s price this quarter. Seasonality, coupled with expectations of a global central bank easing cycle, could boost gains. The upcoming US Presidential election in November could also impact market sentiment, particularly with Donald Trump, a known crypto supporter, running against Vice President Kamala Harris, who has recently shown a more positive stance toward cryptocurrencies. Historically, Bitcoin rallies intensify around 170 days post-halving, suggesting bullish trends ahead. Institutional demand from Bitcoin exchange-traded funds (ETFs) is rising, and likely to drive further attention. Bulls are eyeing resistance levels starting at $70,000, with speculation around a possible $100,000 target, as favourable economic conditions and political events unfold.”

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 1.66 per cent to $64,451.60. Its 24-hour trading volume was $21.15 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 56.1 per cent.

Ethereum: Ethereum ETH was down by 0.89 per cent to $2,634.06 from the previous day. Its 24-hour trading volume was $13.68 billion. Ethereum’s market dominance was 13.9 per cent.

Tether: Tether USDT was trading at $1. It was up by 0.03 per cent. Its 24-hour trading volume was $48.20 billion. It was ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was up by 1.06 per cent to $157.04. Its 24-hour trading volume was $2.05 billion.

Avalanche AVAX was trading at $28.68, down by 0.34 per cent. Its 24-hour trading volume was $328.00 million.

Cardano ADA was down by 1.17 per cent to $0.3908 from the previous day. Its 24-hour trading volume was $221.79 million.

Meme Coins

Dogecoin DOGE was down by 3.56 per cent, with a 24-hour price of $0.1228.

Shiba Inu SHIB was up by 4.11 per cent to $0.00001879.

Decentralised Finance

DeFi coin was trading at $0.02129, down by 2.64 per cent.

Yearn.Finance YFI was up by 3.46 per cent to $5,505.41 in the last 24 hours. Its 24-hour trading volume was $17.19 million.