Crypto Market Dips Marginally, Trading Volume Declines 37 Per Cent; Bitcoin, Ethereum Down

The global crypto market decreased marginally on Friday. The total market cap was down by 1 per cent to $2.57 trillion, even as the total trading volume was down by 37.76 per cent to $102.78 billion.

Onyxcoin XCN was the most trending cryptocurrency as well as top gainer. It was up by 56.75 per cent to $0.01832. Its 24-hour trading volume was $436.61 million. EOS EOS was the top loser. It was down by 7.15 per cent. Its 24-hour trading volume was $259.70 million.

DeFi was up by 62.95 per cent to $8.66 billion, Coinmarketcap.com reported.

CoinSwitch Markets Desk said in a statement, “Bitcoin’s price fluctuated throughout the day, reaching a high of $82,476 before declining to $80,648, a 2.2 per cent decrease from the previous close. Major altcoins, such as XRP and Ethereum, experienced volatility as well, with XRP trading around $2 and Ethereum, rising $1682 before declining by nearly 9 per cent to currently trade at $1538. S&P 500 and Nasdaq Composite dropped by ~3.5 per cent and ~4.3 per cent, respectively.”

It added: “The market turbulence was primarily driven by the US administration’s decision to impose a 145 per cent tariff on Chinese imports, prompting retaliatory measures from China. This escalation in trade tensions led to concerns about global economic growth and increased market volatility.”

Cryptocurrency Prices

Bitcoin (BTC): Bitcoin was down by 1.09 per cent to $80,829.29. Its 24-hour trading volume was $44.16 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 60.40 per cent.

Ethereum (ETH): Ethereum was down by 3.99 per cent to $1,545.05. Its 24-hour trading volume was $20.46 billion, and its market dominance was 13.3 per cent.

Tether: Tether USDT was trading at $0.9993. It was up by 0.03 per cent. Its 24-hour trading volume was $79.11 billion. It is currently ranked third on Coinmarketcap.

Other Altcoins

Solana was up by 0.42 per cent to $115.51. Its 24-hour trading volume was $4.15 billion.

Avalanche AVAX was trading at $18.48, up by 2.71 per cent. Its 24-hour trading volume was $285.06 million.

Cardano ADA was trading at $0.6248, up by 1.90 per cent. Its 24-hour trading volume was $887.35 million.

Meme Coins

Dogecoin was up by 0.94 per cent, with a 24-hour price of $0.1567.

Shiba Inu was up by 1.13 per cent to $0.00001190.

Decentralised Finance

DeFi Coin was down by 2.99 per cent, and it was trading at $0.003087.

Yearn Finance was down by 3.25 per cent to $4,485.87, with a 24-hour trading volume of $27.41 million.