Markets
Crypto market rises marginally, trading volume gains 49.81%; Bitcoin up, Ethereum down
Crypto market gains marginally
The global crypto market rose marginally on Tuesday. Total market capitalization increased by 0.35% to $2.27 trillion, while total trading volume increased by 49.81% to $71.76 billion. Pepe PEPE was the most popular cryptocurrency. It rose 3.42 percent to $0.000007908. Its 24-hour trading volume was $326.89 million. Lido DAO LDO was the biggest gainer. The increase was 2.30%. Its 24-hour trading volume was 64.89 million. dogwifhat WIF was the biggest loser. The drop was 10.83%. Its 24-hour trading volume was $585.28 million.
DeFi fell 1.73% to $6.04 billion, Coinmarketcap.com reported.
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Rajagopal Menon, Vice President of WazirX said: “Bitcoin (BTC) has experienced a gradual decline since its peak of $72,800, currently at $62,535. Despite easing selling pressure, BTC struggles to maintain close above from the average. After a tentative post-FED interest rate recovery decision, new selling pressure emerged. Finding support at EMA100, BTC finds short-term resistance at $61,490, $62,680 and $63,161, with $63,161. 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 50-day dynamic EMA. Remaining above the 50% Fibonacci level, SOL exhibits potential for a inverted head and shoulders pattern with $150 as the neckline. At $146 with an intraday increase of 1.25%, rising volumes suggest a possible continuation of the uptrend.”
He further added: “Ethereum (ETH), valued at $353 billion, surpassed $4,000 in March but now faces persistent selling pressure. Trading at $2,945.2, up 2.56%, the ETH struggles to overcome moving averages amid slowing downtrend. Repeated tests of $2,858.2 support indicate continued challenges in recovery amid sustained selling pressure.”
Cryptocurrency prices
Bitcoin: Bitcoin BTC rose 0.32 percent to $61,867.72. Its 24-hour trading volume was $28.47 billion. It is currently ranked #1 on Coinmarketcap based on market cap. Bitcoin’s market dominance was 52.7%.
Ethereum: Ethereum ETH fell 0.43 percent to $2,913.60 from the previous day. Its 24-hour trading volume was $12.32 billion. Ethereum’s market dominance was 16.5%.
Lashing: Tether USDT was trading at $0.9996. The drop was 0.03%. Its 24-hour trading volume was $52.40 billion. It is ranked third on Coinmarketcap.
Other Altcoins
Solana SOL rose 3.21 percent to $145.99. Its 24-hour trading volume was $2.38 billion.
Avalanche AVAX was trading at $32.43, down 1.77%. Its 24-hour trading volume was $365.45 million.
Cardano ADA fell 1.63% to $0.4357 from the previous day. Its 24-hour trading volume was $350.31 million.
Meme Coins
Dogecoin DOGE is down 6.99 percent with a 24-hour price of $0.1505.
Shiba Inu SHIB rose 2.31 percent to $0.00002359.
Decentralized Finance
The DeFi coin was trading at $0.04604, the same as yesterday.
Yearn.Finance YFI fell 1.10 percent to $6,619.72 in the last 24 hours. Its 24-hour trading volume was $15.74 million.