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The global crypto market increased marginally on Friday. The total market cap rose by 6.57 per cent to $2.14 trillion, while the total trading volume slumped by 5.14 per cent to $93.58 billion.
Bitcoin BTC was the most trending cryptocurrency. But it was up by 7.14 per cent to $61.074.11. Its 24-hour trading volume was $42.94 billion. Sui SUI was the top gainer. It was up by 28.19 per cent. Its 24-hour trading volume was $370 million. Aave AAVE was the top loser. It was down by 3.62 per cent. Its 24-hour trading volume was $226.97 million.
DeFi was also up by 5.04 per cent to $4.12 billion, according to the report by coinmarketcap.com.
Sathvik Vishwanath, Co-Founder & CEO of Unocoin stated, ‘‘Bitcoin newcomers are currently experiencing significant unrealized losses, with 93% of those losses attributed to short-term holders (STH). This is reminiscent of the distress seen during the FTX collapse. A recent Glassnode report highlights that 97% of the losses are borne by STHs, which were hit hard by the recent BTC price drop to $49,500. STH has been holding its largest unrealized losses since the FTX crisis, reflecting previous market selloffs. Only 7% of STH holdings are profitable, indicating significant financial stress among recent buyers. Additionally, Indian users can buy, sell and trade XDC Network on the Unocoin exchange.’’
Cryptocurrency Prices
Bitcoin: Bitcoin BTC was up by 7.14 per cent to $61.074.11. Its 24-hour trading volume was 42.94 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 56.4 per cent.
Ethereum: Ethereum ETH was also up by 10.16 per cent to $2,673.43 from the previous day. Its 24-hour trading volume was $22.79 billion. Ethereum’s market dominance was 15.1 per cent.
Tether: Tether USDT was trading at $1.00. It was down by 0.01 per cent. Its 24-hour trading volume was $70.10 billion. It was ranked third on Coinmarketcap.
Other Altcoins
Solana SOL was also up by 2.87 per cent to $154.24. Its 24-hour trading volume was $4.77 billion.
Avalanche AVAX was trading at $21.82, which increased by 5.26 per cent. Its 24-hour trading volume was $286.9 million.
Cardano ADA was up by 3.81 per cent to $0.3479 from the previous day. Its 24-hour trading volume was $320.6 million.
Meme Coins
Dogecoin DOGE rose by 5.06 per cent, with a 24-hour price of $0.1047.
Shiba Inu SHIB was also up by 4.72 per cent to $0.00001393.
Decentralised Finance
DeFi coin was trading at $0.02534, down by 1.64 per cent.
Yearn.Finance YFI has increased by 2.27 per cent to $5,101.94 in the last 24 hours. Its 24-hour trading volume was $12.17 million.
