Cryptocurrency

Crypto Market Increases Marginally, Trading Volume Dips

Bitcoin was up by 2.30 per cent, while Ethereum was up by 5.38 per cent. GameStop GME was the most trending, while Floki FLOKI was the top gainer and WorldCoin WLD was the top loser.

Crypto Market Rises Marginally
info_icon

The global crypto market increased marginally on Friday. The total market cap was up by 2.75 per cent to $2.43 trillion, while the total trading volume was down by 2.77 per cent to $74.41 billion. GameStop GME was the most trending cryptocurrency. It was up by 60.44 per cent to $0.01955. Its 24-hour trading volume was $176.00 million. Floki FLOKI was the top gainer. It was up by 10.77 per cent. Its 24-hour trading volume was $789.40 million. WorldCoin WLD was the top loser. It was down by 9.30 per cent. Its 24-hour trading volume was $612.65 million.

DeFi was down by 1.35 per cent to $5.47 billion, Coinmarketcap.com reported.

Rajagopal Menon, VP, WazirX said, "Bitcoin has surged above $66,000, driven by inflows to spot ETFs and positive US economic data. Analysts anticipate this upward momentum will continue, potentially pushing BTC past its all-time high of $74,000 next week, spurred by rising institutional demand and increased risk appetite. After recovering from a recent market correction, Bitcoin has shown resilience, climbing from the $62k region to the $66k territory. Despite facing stiff rejection at $66,861, BTC remains bullish, gaining over 4% on weekly and monthly charts."

He further mentioned," Cryptos are stuck in a narrow range amid BTC fluctuations. Currently trading at $7.48, UNI Coin moves towards resistance at $8.35, with support at $6.73. Significant breakouts are expected if these levels are breached. Whale interest in UNI Coin shows weakness, with daily transactions over $100,000 decreasing by 44% and those over $1 million down 50% over 30 days. Trading volume has also declined by 48%."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was up by 2.30 per cent to $66,919.28. Its 24-hour trading volume was $27.34 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 up by 5.38 per cent to $3,105.63 from the previous day. Its 24-hour trading volume was $14.48 billion. Ethereum’s market dominance was 15.3 per cent.

Tether: Tether USDT was trading at $1.00. It was up by 0.03 per cent. Its 24-hour trading volume was $55.94 billion. It is ranked third on Coinmarketcap.

Meme Coins

Dogecoin DOGE was up by 4.04 per cent, with a 24-hour price of $0.1561.

Shiba Inu SHIB was up by 2.36 per cent to $0.00002494.

Decentralised Finance

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

Yearn.Finance YFI was up by 3.49 per cent to $6,776.43 in the last 24 hours. Its 24-hour trading volume was $20.27 million.