The global crypto market gains on Wednesday. The total market cap was up by 2.52 per cent to $2.02 trillion while the total trading volume was downby 48.05 per cent to $105.13 billion. Bitcoin BTC was the most trending. It was up by 3.01 per cent to $57,049.50. Its 24-hour trading volume was $47.84 billion.
Popcat SOL POPCAT was the top gainer. It was up by 22.52 per cent. Its 24-hour trading volume was $123.43 million. Akash Network AKT was the top loser. It was down by 4.36 per cent. Its 24-hour trading volume was $33.47 million.
DeFi was up by 2.19 per cent to $4.93 billion, Coinmarketcap.com reported.
Sathvik Vishwanath, Co-Founder & CEO, Unocoin said, "Analysts are wary of buying Bitcoin despite its recent stabilization. After a significant crash, the price of Bitcoin rebounded to around $56,410.85, recovering from a dip below $50,000. Markus Thielen of 10X Research warns that current market conditions, including slow trading in August and September, make immediate investments risky. It advises prudent risk management and suggests that better opportunities may arise later. Analysts are also focusing on macroeconomic factors such as a potential rate cut by the Federal Reserve and changes in interest rate differentials against Japan. Despite some signs of stabilization, including lower leverage and open interest, further declines remain a concern."
Cryptocurrency Prices
Bitcoin: Bitcoin BTC was up by 3.01 per cent to $57,049.50. Its 24-hour trading volume was 47.84 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 55.8 per cent.
Ethereum: Etherum ETH was up by 1.03 per cent to $2,517.83 from the previous day. Its 24-hour trading volume was $25.31 billion. Ethereum’s market dominance was 15.0 per cent.
Tether: Tether USDT was trading at $1.00. It was up by 0.03 per cent. Its 24-hour trading volume was $78.36 billion. It is ranked third on Coinmarketcap.
Other Altcoins
Solana SOL was up by 9.04 per cent to $153.72. Its 24-hour trading volume was $5.79 billion.
Avalanche AVAX was trading at $21.51, up by 4.97 per cent. Its 24-hour trading volume was $342.78 million.
Cardano ADA was up by 2.97 per cent to $0.337 from the previous day. Its 24-hour trading volume was $367.37 million.
Meme Coins
Dogecoin DOGE was up by 1.20 per cent, with a 24-hour price of $0.09947.
Shiba Inu SHIB was up by 0.71 per cent to $0.00001375.
Decentralised Finance
DeFi coin was trading at 0.02462, up by 5.85 per cent.
Yearn.Finance YFI was up by 1.05 per cent to $5,071.93 in the last 24 hours. Its 24-hour trading volume was $14.40 million.
