Crypto Market Surges Marginally, Trading Volume Rises 3.79%; Bitcoin , Ethereum Up
The global crypto market increased marginally on Saturday. The total market cap was up by 5.19 per cent to $2.23 trillion, while the total trading volume was up by 3.79 per cent to $74.01 billion. Costco Hot Dog COST was the most trending cryptocurrency. It was up by 69.14 per cent to $0.0491. Its 24-hour trading volume was $5.74 million. dogwifhat was the top gainer. It was up by 18.85 per cent. Its 24-hour trading volume was $530.96 million. Helium HNT was the top loser. It was down by 2.96 per cent. Its 24-hour trading volume was $17.07 million.
DeFi was up by 4.09 per cent to $6.03 billion, Coinmarketcap.com reported.
Rajagopal Menon, VP, WazirX said, "Bitcoin (BTC) surged over 5% in the past 24 hours, hitting $62,000 amid positive US employment data, fueling risk asset optimism. Despite April's US nonfarm payrolls falling short of expectations, BTC's rally underscores investor confidence amidst economic uncertainties. Amidst a correction phase, BTC's recent spike helped recover previous losses, though it was down by 7% over 30 days. With YTD gains of 46%, BTC remains resilient, trading at $61,728, amidst a volatile market influenced by interest rate and inflation speculations."
He added, "Solana, a leading blockchain platform, witnessed a 30% TVL decrease. April saw a $10 billion reduction in DApps value, dropping TVL from $4.64 billion in March to $3.8 billion. This downturn coincided with waning meme coin interest on Solana and a decline in BTC prices post-March surge."
He further mentioned,"Ethereum's recent performance saw a notable surge past $3,000, rising to 3% in the past 24 hours. Analysts maintain strong optimism, indicating that sustaining this level by week's end may pave the way for a potential revisit to $4,000."
Cryptocurrency Prices
Bitcoin: Bitcoin BTC was up by 6.31 per cent to $63,310.36. Its 24-hour trading volume was $30.11 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 4.32 per cent to $3116.19 from the previous day. Its 24-hour trading volume was $12.36 billion. Ethereum’s market dominance was 16.5 per cent.
Tether: Tether USDT was trading at $1.00. It was up by 0.03 per cent. Its 24-hour trading volume was $53.70 billion. It is ranked third on Coinmarketcap.
Other Altcoins
Solana SOL was up by 4.14 per cent to $145.04. Its 24-hour trading volume was $3.31 billion.
Avalanche AVAX was trading at $35.68, up by 5.21 per cent. Its 24-hour trading volume was $303.61 million.
Cardano ADA was up by 3.02 per cent to $0.4675 from the previous day. Its 24-hour trading volume was $303.19 million.
Meme Coins
Dogecoin DOGE was up by 12.08 per cent, with a 24-hour price of $0.15.
Shiba Inu SHIB was up by 7.20 per cent to $0.00002487.
Decentralised Finance
DeFi coin was trading at $0.04604, the same as yesterday.
Yearn.Finance YFI was up by 0.87 per cent to $6,958.82 in the last 24 hours. Its 24-hour trading volume was $15.22 million.