Cryptocurrency

Crypto Market Rises Marginally, Trading Volume Declines

Bitcoin was up by 1.85 per cent, while Ethereum was up by 1.00 per cent. Pepe PEPE was the most trending, while Akash Network AKT was the top gainer and Cosmos ATOM was the top loser.

Crypto Market Rises Marginally
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The global crypto market increased marginally on Friday. The total market cap was up by 1.77 per cent to $2.33 trillion, while the total trading volume was down by 1.58 per cent to $63.76 billion. Pepe PEPE was the most trending cryptocurrency. It was up by 2.46 per cent to $0.000008664. Its 24-hour trading volume was $862.47 million. Akash Network AKT was the top gainer. It was up by 16.63 per cent. Its 24-hour trading volume was 226.33 million. Cosmos Atom was the top loser. It was down by 0.93 per cent. Its 24-hour trading volume was $122.55 million.

DeFi was down by 1.73 per cent to $6.04 billion, Coinmarketcap.com reported.

Sathvik Vishwanath, Co-Founder & CEO, Unocoin said, "Bitcoin's rise to $61,425 indicates a potential stabilization of the market, supported by fresh capital flowing into Bitcoin ETFs, namely Grayscale and Bitwise, which accumulated $11.54 million. Institutional traction and economic influences support Bitcoin price forecasts. Bitwise's ETFs saw notable inflows, indicating escalating investor confidence, while Grayscale's ETFs remained steady. With bitcoin spot ETFs now worth $51.50 billion, the market is showing resilience and growing institutional and retail embrace. This increase reflects the wider adoption of cryptocurrencies in regulated investment vehicles. Technical analysis suggests a bullish stance for Bitcoin above $61,000, with resistance at $62,865 and support at $59,150. The Relative Strength Index (RSI) at the 40-day and 50-day EMA at $62,420 offers additional insights for discerning investors."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was up by 1.85 per cent to $62,857.44. Its 24-hour trading volume was $25.11 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 1.00 per cent to $3,033.91 from the previous day. Its 24-hour trading volume was $10.89 billion. Ethereum’s market dominance was 16.5 per cent.

Tether: Tether USDT was trading at $0.9999. It was up by 0.06 per cent. Its 24-hour trading volume was $46.38 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was up by 5.93 per cent to 145.42. Its 24-hour trading volume was $2.25 billion.

Avalanche AVAX was trading at $35.65, up by 3.62 per cent. Its 24-hour trading volume was $316.78 million.

Cardano ADA was up by 1.10 per cent to $0.4646 from the previous day. Its 24-hour trading volume was $298.14 million.

Meme Coins

Dogecoin DOGE was up by 2.23 per cent, with a 24-hour price of $0.1509.

Shiba Inu SHIB was up by 1.92 per cent to $0.00002336.

Decentralised Finance

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

Yearn.Finance YFI was down by 0.59 per cent to $7,006.38 in the last 24 hours. Its 24-hour trading volume was $19.79 million.