Crypto Market Dips Marginally Even As Trading Volume Declines; Bitcoin Up, Ethereum Down

Bitcoin was up by 0.19 per cent, while Ethereum was down by 0.62 per cent. Pepe PEPE was the most trending cryptocurrency, while Mantle MNT was the top gainer and KuCoin Token KCS was the top loser.
Crypto Market Dips Marginally
Crypto Market Dips Marginally

The global crypto market fell marginally on Wednesday. The total market cap was down by 0.48 per cent to $2.66 trillion, while the total trading volume was down by 5.04 per cent to $106.61 billion. Pepe PEPE was the most trending cryptocurrency. It was down by 1.48 per cent to $0.000008112. Its 24-hour trading volume was $906.61 million. Mantle MNT was the top gainer, up by 41.10 per cent. Its 24-hour trading volume was 352.92 million. KuCoin Token KCS was the top loser, down by 12.64 per cent. Its 24-hour trading volume was $13.49 million.

Sathvik Vishwanath, Co-Founder & CEO, Unocoin said, "Spot bitcoin ETFs reversed course, recording net inflows of $15.7 million, breaking a five-day outflow trend, according to SoSo Value. Fidelity's FBTC led with inflows of $261 million, while Grayscale's GBTC saw outflows of $350 million. Despite assets under management stagnating at $30.62 billion, renewed investor confidence is evident. The London Stock Exchange's plan to launch BTC and ETH ETNs in May drove Bitcoin above $71,000. ETFs and ETNs, while structurally different, offer asset exposure. QCP Capital has seen increasing demand for BTC allocations and structured products and foresees continued momentum for Bitcoin to possibly surpass $100,000, attractive for its independent returns amid market volatility."

DeFi was down by 0.90 per cent to $11.70 billion, Coinmarketcap.com reported.

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was up by 0.19 per cent to $70,453.57. Its 24-hour trading volume was $36.01 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 51.6 per cent.

Ethereum: Ethereum ETH was down by 0.62 per cent to $3,536.08 from the previous day. Its 24-hour trading volume was $16.73 billion. Ethereum’s market dominance was 16.3 per cent.

Tether: Tether USDT was trading at $0.9999. it was down by 0.05 per cent. Its 24-hour trading volume was $76.47 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was down by 3.15 per cent to $189.34. Its 24-hour trading volume was $3.40 billion.

Avalanche AVAX was trading at $55.91, down by 4.92 per cent. Its 24-hour trading volume was $990.98 million.

Cardano ADA was down by 1.48 per cent to $0.6608 from the previous day. Its 24-hour trading volume was $605.78 million.

Meme Coin

Dogecoin DOGE was up by 4.26 per cent, with a 24-hour price of $0.1866.

Shiba Inu SHIB was up by 7.25 per cent to $0.00003122.

Decentralised Finance

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

Yearn.Finance YFI was down by 1.26 per cent to $9,136.46 in the last 24 hours. Its 24-hour trading volume was $43.11 million in the last 24 hours.

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