Crypto Market Rises Marginally, Trading Volume Gains 49.81%; Bitcoin Up, Ethereum Down

Bitcoin was up by 0.32 per cent, while Ethereum was down by 0.43 per cent. Pepe PEPE was the most trending, while Lido DAO LDO was the top gainer and dogwifhat WIF was the top loser.
Crypto Market Gains Marginally
Crypto Market Gains Marginally

The global crypto market increased marginally on Tuesday. The total market cap was up by 0.35 per cent to $2.27 trillion, while the total trading volume was up by 49.81 per cent to $71.76 billion. Pepe PEPE was the most trending cryptocurrency. It was up by 3.42 per cent to $0.000007908. Its 24-hour trading volume was $326.89 million. Lido DAO LDO was the top gainer. It was up by 2.30 per cent. Its 24-hour trading volume was 64.89 million. dogwifhat WIF was the top loser. It was down by 10.83 per cent. Its 24-hour trading volume was $585.28 million.

DeFi was down by 1.73 per cent to $6.04 billion, Coinmarketcap.com reported.

Rajagopal Menon, VP, WazirX said, "Bitcoin (BTC) has experienced a gradual decline from its peak of $72,800, currently at $62,535. Despite reduced selling pressure, BTC struggles to maintain closure above average. Following a post-FED interest rate decision recovery attempt, renewed selling pressure emerged. Finding support at EMA100, BTC encounters short-term resistance at $61,490, $62,680, and $63,161, with support levels at $60,338, $60k, and EMA200 at $53,087."

He mentioned, "Despite the recent market downturn, SOL maintains strong support, testing the $150 mark and the dynamic 50-day EMA. Holding above the 50% Fibonacci level, SOL exhibits potential for an inverted head-and-shoulder pattern, with $150 as the neckline. Priced at $146 with a 1.25% intraday increase, rising volumes suggest a possible uptrend continuation."

He further added, "Ethereum (ETH), valued at $353 billion, surged past $4k in March but now faces persistent selling pressure. Trading at $2,945.2, up by 2.56%, ETH struggles to surpass moving averages amidst a slowed downtrend. Repeated tests of the $2,858.2 support indicate ongoing challenges in recovery amid sustained selling pressure."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was up by 0.32 per cent to $61,867.72. Its 24-hour trading volume was $28.47 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 down by 0.43 per cent to $2,913.60 from the previous day. Its 24-hour trading volume was $12.32 billion. Ethereum’s market dominance was 16.5 per cent.

Tether: Tether USDT was trading at $0.9996. It was down by 0.03 per cent. Its 24-hour trading volume was $52.40 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was up by 3.21 per cent to $145.99. Its 24-hour trading volume was $2.38 billion.

Avalanche AVAX was trading at $32.43, down by 1.77 per cent. Its 24-hour trading volume was $365.45 million.

Cardano ADA was down by 1.63 per cent to $0.4357 from the previous day. Its 24-hour trading volume was $350.31 million.

Meme Coins

Dogecoin DOGE was down by 6.99 per cent, with a 24-hour price of $0.1505.

Shiba Inu SHIB was up by 2.31 per cent to $0.00002359.

Decentralised Finance

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

Yearn.Finance YFI was down by 1.10 per cent to $6,619.72 in the last 24 hours. Its 24-hour trading volume was $15.74 million.

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