Cryptocurrency

Crypto Market Gains Marginally, Trading Volume Dips; Bitcoin, Ethereum Up

Bitcoin was up by 1.86 per cent, while Ethereum was up by 1.67 per cent. Bitcoin BTC was also the most trending, while Ronin RON was the top gainer and Safe SAFE was the top loser.

Crypto Market Gains Marginally
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The global crypto market rises marginally on Saturday. The total market cap was up by 1.80 per cent to $2.15 trillion whereas the total trading volume was down by 18.73 per cent to $54.99 billion. Bitcoin BTC was the most trending. It was up by 1.86 per cent to $58,092.76. Its 24-hour trading volume was $22.90 million. Ronin RON was the top gainer. It was up by 11.18 per cent. Its 24-hour trading volume was $20.88 million. Safe SAFE was the top loser. It was down by 4.53 per cent. Its 24-hour trading volume was $14.15 million.

DeFi was up by 2.09 per cent to $3.61 billion, Coinmarketcap.com reported.

Rajagopal Menon, VP, WazirX said, "Bitcoin is trading near $57,500, having touched $58,500 earlier today. Key to its recovery is the $58,000 level, which represents Bitcoin's 200-day EMA. A sustained close above this level on higher timeframes could propel BTC towards $63,000. Recent attempts to break a month-and-a-half downtrend near $59,000 were met with resistance, causing a pullback to around $58,000."

He added, "Technical indicators indicate a potential slowdown as the hourly MACD loses momentum in the bullish zone. However, the hourly RSI for BTC/USD remains above 50, indicating bullish sentiment. Crucial support levels are $57,200 and $56,000, offering protection against downturns. On the upside, Bitcoin faces resistance at $58,400 and $59,500, pivotal for further upward movement."

He further mentioned, "BONK Coin, trading at $0.00002546 with a 2.05% decrease, recently reclaimed support at $0.0000182 and maintained a base around $0.0000248. A potential test towards $0.0000291 is anticipated, particularly if Bitcoin climbs above $60,000, potentially pushing BONK towards $0.0000441 and setting new highs above $0.0000291."

At last, "MATIC Coin saw a 0.5% increase, trading at $0.5071, despite Bitcoin's decline. After a 66% loss over 114 days, MATIC initiated a recovery on July 5, aiming to reclaim support at $0.546 and targeting $0.68, with the potential to rekindle interest in targets above $1."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was up by 1.86 per cent to $58,092.76. Its 24-hour trading volume was 22.90 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 53.5 per cent.

Ethereum: Ethereum ETH was up by 1.67 per cent to $3,134.66 from the previous day. Its 24-hour trading volume was $11.50 billion. Ethereum’s market dominance was 17.9 per cent.

Tether: Tether USDT was trading at $1.00. It was up by 0.01 per cent. Its 24-hour trading volume was $42.50 billion. It is ranked third on Coinmarketcap.

Meme Coins

Dogecoin DOGE was down by 1.62 per cent, with a 24-hour price of $0.1062.

Shiba Inu SHIB was up by 4.49 per cent to $0.00001687.

Decentralised Finance

DeFi coin was trading at $0.0337, down by 2.01 per cent.

Yearn.Finance YFI was up by 1.14 per cent to $5,827.05 in the last 24 hours. Its 24-hour trading volume was $18.71 million.