Markets
Crypto market gains marginally, trading volume drops 2.12 percent; Bitcoin, Ethereum on the rise
Crypto market gains marginally
The global crypto market rose marginally on Wednesday. Total market capitalization increased by 1.12% to $2.58 trillion, while total trading volume fell by 2.02% to $88.81 billion. Ethena ENA was the most popular cryptocurrency. It rose 2.49 percent to $0.9004. Its 24-hour trading volume was $238.82 million. Notcoin NOT was the biggest gainer. It increased by 25.18 percent. Its 24-hour trading volume was $1.23 billion. Pendle PENDLE was the biggest loser. The drop was 6.55%. Its 24-hour trading volume was $146.50 million.
DeFi fell 0.99% to $7.31 billion, Coinmarketcap.com reported.
Read too: Bitcoin exchange-traded products accumulate over 1 million BTC
Sathvik Vishwanath, co-founder and CEO of Unocoin, said: “Bitcoin’s recent 2% drop, triggered by movements in Mt.Gox coins, is seen as a minor setback in an uptrend, according to QCP Capital. Key factors for optimism include strong US stock performance, political support and Ether Bitcoin’s next critical pivot point is $68,383, with resistance at $69,566 and support at $68,127 at 49.37 indicates sentiment market neutral, with traders anticipating a rise above $70,000. Patience and breaking key levels are needed for additional profits.”
Cryptocurrency prices
Bitcoin: Bitcoin BTC rose 0.84 percent to $68,567.87. Its 24-hour trading volume was $29.05 billion. It is currently ranked #1 on Coinmarketcap based on market cap. Bitcoin’s market dominance was 52.5%.
Ethereum: Ethereum ETH rose 0.19 percent to $3,833.85 from the previous day. Its 24-hour trading volume was $18.71 billion. Ethereum’s market dominance was 18.1%.
To tie: Tether USDT was trading at $0.9991. The drop was 0.06%. Its 24-hour trading volume was $69.06 billion. It is ranked third on Coinmarketcap.
Other Altcoins
Solana SOL rose 3.23 percent to $171.61. Its 24-hour trading volume was $3.05 billion.
Avalanche AVAX was trading at $37.14, down 1.00%. Its 24-hour trading volume was $411.14 million.
Cardano ADA rose 1.37% to $0.4626 from the previous day. Its 24-hour trading volume was $332.16 million.
Meme Coins
Dogecoin DOGE is up 2.50 percent with a 24-hour price of $0.169.
Shiba Inu SHIB rose 15.54 percent to $0.00002877.
Decentralized Finance
The DeFi coin was trading at $0.04604, the same as yesterday.
Yearn.Finance YFI rose 0.43 percent to $7,237.36 in the last 24 hours. Its 24-hour trading volume was $13.45 million.