The global crypto market declined marginally on Wednesday with all major coins trading in the red. The total market cap was down by 3.01 per cent to $2.6 trillion, while the total trading volume was down by 2.33 per cent to $99.59 billion.
Saga SAGA was the most trending cryptocurrency. It was up by 16.94 per cent to $1.37. Its 24-hour trading volume was $1.39 billion. Nervous Network CKB was the top gainer. It was up by 39.33 per cent. Its 24-hour trading volume was $996.56 million. dogwifhat WIF was the top loser. It was up by 2.31 per cent. Its 24-hour trading volume was $340.33 million.
Sathvik Vishwanath, co-founder and CEO, Unocoin said, “The post-May period could offer a more favourable business environment after the pace of quantitative tightening and potential fiscal stimulus eases. Today, the price of Bitcoin fell to $69,115, breaking the support of the ascending channel, indicating a potential shift in market sentiment. Technical analysis reveals resistance levels at $71,425, $72,740 and $73,775, with immediate support at $67,525. The relative strength index (RSI) at 33 indicates bearish momentum, while the 50-day exponential moving average (EMA) at $69,725 underscores the current market uncertainty.”
DeFi was up by 2.04 per cent to $9.72 billion, Coinmarketcap.com reported.
Bitcoin: Bitcoin BTC was down by 2.53 per cent to $69,298.29. Its 24-hour trading volume was $36.56 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 52.6 per cent.
Ethereum: Ethereum ETH was down by 4.32 per cent to $3,534.56 from the previous day. Its 24-hour trading volume was $17.86 billion. Ethereum’s market dominance was 16.3 per cent.
Tether: Tether USDT was trading at $0.9999. It was down by 0.01 per cent. Its 24-hour trading volume was $70.81 billion. It is ranked third on Coinmarketcap.
Solana SOL was down by 1.71 per cent to $177.89. Its 24-hour trading volume was $2.82 billion.
Avalanche AVAX was trading at $47.50, down by 3.39 per cent. Its 24-hour trading volume was $454.15 million.
Cardano ADA was down by 4.22 per cent to $0.5861 from the previous day. Its 24-hour trading volume was $547.57 million.
Dogecoin DOGE was down by 5.37 per cent, with a 24-hour price of $0.1897.
Shiba Inu SHIB was down by 4.48 per cent to $0.00002754.
DeFi coin was trading at $0.04604, the same as yesterday.
Yearn.Finance YFI was down by 2.57 per cent to $8,329.14 in the last 24 hours. Its 24-hour trading volume was $34.13 million in the last 24 hours.
