Markets
Cryptocurrency Market Increases Marginally Along With Trading Volume; Bitcoin, Ethereum Up
The global cryptocurrency market is marginally higher on Monday. The total market cap rose 3.53% to $2.29 trillion even as the total trading volume surged 19.76% to $58.88 billion. Bitcoin BTC was the top trender, rising 4.28% to $62,735.64. Its 24-hour trading volume was $25.36 billion. Pendle PENDLE was the top gainer. It rose 14.57%. Its 24-hour trading volume was $74.55 million. Fantom FTM was the top loser. It fell 1.86%. Its 24-hour trading volume was $101.9 million.
DeFi rose 2.68% to $3.83 billion, Coinmarketcap.com reported.
Read too: Budget 2024: Crypto stakeholders call for tax breaks and regulatory framework
Sathvik Vishwanath, Co-founder and CEO of Unocoin, said: “Bitcoin surged 4% to $60,300 following the assassination attempt on former US President Donald Trump, amid bullish sentiment linked to Trump’s pro-crypto stance. Analysts are speculating on a potential market backlash to Trump’s election victory, fueled by support from the likes of Elon Musk. Bitcoin is currently trading at $62,500, showing signs of a bullish reversal with whale accumulation and positive technical indicators. A sustained break above $64,602 is crucial to confirm the bullish momentum; failure to do so could result in repeated support tests. In the near term, Bitcoin could range between $61,000 and $62,000, potentially breaking above $63,000 or returning to $55,000. Market stability depends on geopolitical developments and investor sentiment.”
Cryptocurrency Prices
Bitcoin: Bitcoin BTC rose 4.28 percent to $62,735.64. Its 24-hour trading volume was $25.36 billion. It is currently ranked #1 on Coinmarketcap based on market capitalization. Bitcoin’s market dominance was 53.9 percent.
Ethereum: Ethereum ETH rose 4.40 percent to $3,332.82 from the previous day. Its 24-hour trading volume was $11.96 billion. Ethereum’s market dominance was 17.5 percent.
Mooring: Tether USDT was trading at $1.00. It is up 0.02 percent. Its 24-hour trading volume was $45.02 billion. It is ranked third on Coinmarketcap.
Other Altcoins
Solana SOL rose 4.86 percent to $151.70. Its 24-hour trading volume was $1.98 billion. Avalanche AVAX was trading at $26.74, up 2.68 percent. Its 24-hour trading volume was $266.8 million. Cardano ADA rose 1.26 percent to $0.4355 from the previous day. Its 24-hour trading volume was $345.3 million.
Meme Coins
Shiba Inu SHIB is up 2.69% with a 24-hour price of $0.00001801.
Dogecoin DOGE also rose 3.94% to $0.1183.
Decentralized Finance
The DeFi coin was trading at $0.03824, up 3.25 percent. Yearn.Finance YFI fell 1.59 percent to $5,967.48 in the last 24 hours. Its 24-hour trading volume was $11.31 million.