Bitcoin Falls from Peak, Trades Near $117,000; Ethereum Below $3,000

The crypto market is showing signs of cooling down after touching recent highs. Bitcoin, which touched a record $123,000, is trading around $117,000. Ethereum has also dipped below the $3,000 mark. Other major tokens are mostly stable. At the time of writing, the total crypto market cap saw a marginal gain of 3.31 per cent to $3.36 trillion, while the 24-hour trading volume increased by 34.44 per cent to $258.6 billion.

Solidus Ai Tech AITECH was the most trending cryptocurrency. Its price was down by 1.61 per cent to $0.04302. Its 24-hour trading volume was $15.96 billion. Bonk BONK was the top gainer, and it was up by 10.54 per cent, while its 24-hour trading volume was $1.20 billion. Memecore M was the top loser, and it was down by 24.96 per cent, while its 24-hour trading volume was $165.78 million.

The DeFi market cap was at $103.47 billion, Coinmarketcap.com reported.

Edul Patel, co-founder and CEO of Mudrex said that Bitcoin is taking a breather following the rally to a new all-time high of $123,000. With this move, the total crypto market cap grew by 16 per cent in just a week, to a fresh record high of $3.88 trillion.

“Despite the short-term pullback, the bullish structure remains intact. According to CryptoQuant, total daily Bitcoin exchange inflows have fallen to 18,000 Bitcoins, the lowest level since April 2015, indicating reduced selling pressure. Additionally, Bitcoin’s support has moved up to $17,100, showing strong resilience,”he added.

Cryptocurrency Prices

Bitcoin (BTC): Bitcoin prices decreased by 4.36 per cent to $117,078.74 in the past 24 hours. Its 24-hour trading volume was $97.06 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 62.60 per cent.

Ethereum (ETH): Ethereum prices were down by 1.87 per cent to $3,021.61. Its 24-hour trading volume was $34.14 billion, and its market dominance was 9.2 per cent.

Tether (USDT): Tether was trading at $1. It was up by 0.02 per cent. Its 24-hour trading volume was $137.85 billion. It is currently ranked fourth on Coinmarketcap.

Other Altcoins

Solana prices were up by 3.27 per cent to $160.63. Its 24-hour trading volume was $6.44 billion.

Avalanche AVAX was trading at $20.83, down by 3.99 per cent. Its 24-hour trading volume was $554.36 million.

Cardano ADA was trading at $0.7237, down by 3.81 per cent. Its 24-hour trading volume was $1.62 billion.

Meme Coins

Dogecoin was down by 6.67 per cent, with a 24-hour price of $0.1914.

Shiba Inu was down by 4.97 per cent to 0.00001299.

Decentralised Finance

DeFi Coin was down by 6.26 per cent, and it was trading at $0.002892.

Yearn Finance was down by 2.17 per cent to $5,594.71, with a 24-hour trading volume of $19.14 million.