Markets
Crypto market gains marginally even as trading volume falls, Bitcoin falls and Ethereum rises
Crypto market rises marginally
The global crypto market gained marginally on Thursday. Total market capitalization increased 0.12% to $2.63 trillion, while total trading volume fell 11.50% to $79.79 billion. Notcoin NOT was the most popular cryptocurrency. It fell 3.95 percent to $0.02169. Its 24-hour trading volume was $1.72 billion. Mantle MNT was the biggest gainer. It increased by 7.29 percent. Its 24-hour trading volume was $119.81 million. Core CORE was the biggest loser. The drop was 7.21%. Its 24-hour trading volume was $76.91 million.
DeFi rose 4% to $5.89 billion, Coinmarketcap.com reported.
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Rajagopal Menon, Vice President, WazirX said, “Bitcoin it surpassed the $71,000 mark, indicating potential for further growth amid robust trading volumes. This recovery signifies renewed interest and optimism, supported by several key technical indicators.”
He added: “A weaker dollar this week gave crypto markets a boost. The cryptocurrency has surpassed its recent trading range of $60,000-70,000 and is now just $3,000 away from a new record high. In recent months, Bitcoin’s price has been constrained by profit-taking, high interest rates, and subdued enthusiasm regarding Bitcoin exchange-traded funds (ETFs). However, the prospect of lower interest rates this year appears to be reigniting interest in the cryptocurrency market.”
Cryptocurrency prices
Bitcoin: Bitcoin BTC fell 0.14 percent to $70,980.69. Its 24-hour trading volume was $28.81 billion. It is currently ranked #1 on Coinmarketcap based on market cap. Bitcoin’s market dominance was 53.1%.
Ethereum: Ethereum ETH rose 1.38 percent to $3,850.39 from the previous day. Its 24-hour trading volume was $14.28 billion. Ethereum’s market dominance was 17.3%.
Lashing: Tether USDT was trading at $1. The drop was 0.01%. Its 24-hour trading volume was $61.66 billion. It is ranked third on Coinmarketcap.
Other Altcoins
Solana SOL rose 0.80 percent to $172.33. Its 24-hour trading volume was $1.98 billion.
Avalanche AVAX was trading at $36.20, down 0.26%. Its 24-hour trading volume was $298.32 million.
Cardano ADA fell 0.81% to $0.4586 from the previous day. Its 24-hour trading volume was $275.18 million.
Meme Coins
Dogecoin DOGE is down 0.40 percent with a 24-hour price of $0.1619.
Shiba Inu SHIB fell 0.15 percent to $0.00002566.
Decentralized Finance
The DeFi coin was trading at $0.06021, up 4.46%.
Yearn.Finance YFI fell 0.05 percent to $7,092.15 in the last 24 hours. Its 24-hour trading volume was $19.39 million.