Crypto Market Declines Marginally, Trading Volume Rises 27%; Bitcoin, Ethereum Up

The global crypto market declined marginally on Monday. The total market cap was down by 0.58 per cent to $2.28 trillion, while the total trading volume was up by 27.08 per cent to $70.73 billion.

Grass GRASS was the most trending cryptocurrency. It was up by 15.62 per cent to $1.66. Its 24-hour trading volume was $318.40 million. Toncoin TON was the top gainer. It was up by 1.17 per cent. Its 24-hour trading volume was $195.40 million. Popcat POPCAT (SOL) was the top loser. It was down by 8.30 per cent. Its 24-hour trading volume was $149.13 million.

DeFi was down by 2.10 per cent to $3.68 billion, Coinmarketcap.com reported.

According to cryptocurrency experts, the upcoming US Presidential election could cause increased volatility and affect the price movement of Bitcoin.

Sathvik Vishwanath, co-founder and CEO, Unocoin, said: “Bitcoin’s daily chart shows bullish momentum after breaking through a descending widening wedge, with a double bottom pattern suggesting further upside. The price retreated to $67,500, aligning with the black-dotted trendline support, while the bullish 50 SMA break above the 200 SMA confirms bullish strength. On the 4-hour chart, Bitcoin is in an ascending channel and is consolidating near its midline.”

He added: “If the price falls below $68,000, a decline may follow, although the prevailing trend remains up. The election week in the US can cause increased volatility and potentially affect the movement of Bitcoin in the channel.”

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was up by 0.70 per cent to $69,042.14. Its 24-hour trading volume was $32.91 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 57.5 per cent.

Ethereum: Ethereum ETH was up by 0.63 per cent to $2,468.96 from the previous day. Its 24-hour trading volume was $14.70 billion. Ethereum’s market dominance was 13.3 per cent.

Tether: Tether USDT was trading at $0.9992. It was up by 0.04 per cent. Its 24-hour trading volume was $54.25 billion. It was ranked third on Coinmarketcap.

Meme Coins

Dogecoin DOGE was down by 0.85 per cent, with a 24-hour price of $0.151.

Shiba Inu SHIB was down by 1.42 per cent to $0.00001688.

Decentralised Finance

DeFi coin was trading at $0.01825, up by 0.32 per cent.

Yearn.Finance YFI was up by 0.28 per cent to $4,579.79 in the last 24 hours. Its 24-hour trading volume was $20.64 million