Markets
The crypto market drops marginally even as trading volume decreases; Bitcoin down, Ethereum up
Crypto Market Drops Marginally
The global crypto market fell marginally on Thursday. Total market capitalization fell 0.32% to $2.38 trillion, even as total trading volume fell 35.76% to $57.09 billion. zkSync ZK was the most popular cryptocurrency. It fell 3.55 percent to $0.2144. Its 24-hour trading volume was $512.58 million. Fetch.ai FET was the biggest gainer. It increased by 27.68 percent. Its 24-hour trading volume was 353.37 million. Ethena ENA was the biggest loser. The drop was 8.82%. Its 24-hour trading volume was 123.21 million.
DeFi rose 0.31% to $7.47 billion, Coinmarketcap.com reported.
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Rajagopal Menon, Vice President, WazirX said, “The Seconds The decision to withdraw its investigation into Ethereum 2.0 has propelled Ethereum (ETH) past the $3,500 mark. Ethereum-based tokens, including Ethereum Name Service (ENS) and Lido DAO (LDO), are also gaining traction, indicating potential significant upside ahead.”
He further added, “The Lido DAO (LDO) is particularly bullish, with its total value locked (TVL) approaching $39 billion. After a pullback from the January peak, the LDO has stabilized since May, fueled by positive speculation surrounding an Ethereum ETF. The token has shown confirmed support within an ascending parallel channel since June 2022, reflecting strong market support.”
Cryptocurrency prices
Bitcoin: Bitcoin BTC fell 0.32 percent to $65,221.77. Its 24-hour trading volume was $18.67 billion. It is currently ranked #1 on Coinmarketcap based on market cap. Bitcoin’s market dominance was 54.2%.
Ethereum: Ethereum ETH rose 0.20 percent to $3,569.83 from the previous day. Its 24-hour trading volume was $13.44 billion. Ethereum’s market dominance was 18.3%.
Lashing: Tether USDT was trading at $0.9996. The drop was 0.04%. Its 24-hour trading volume was $43.54 billion. It is ranked third on Coinmarketcap.
Other Altcoins
Solana SOL rose 4.64 percent to $133.74. Its 24-hour trading volume was $2.08 billion.
Avalanche AVAX was trading at $27.05, down 0.33%. Its 24-hour trading volume was 204.77 million.
Cardano ADA fell 1.12% to $0.3897 from the previous day. Its 24-hour trading volume was $276.93 million.
Meme Coins
Dogecoin DOGE is down 2.27 percent with a 24-hour price of $0.1231.
Shiba Inu SHIB fell 2.65 percent to $0.00001834.
Decentralized Finance
The DeFi coin was trading at $0.04353, down 2.96%.
Yearn.Finance YFI rose 0.41 percent to $5,996.88 in the last 24 hours. Its 24-hour trading volume was $16.86 million.