Crypto Market Dips Marginally, Trading Volume Declines 7%; Bitcoin, Ethereum Down

The global crypto market decreased marginally on Wednesday, with the total market cap down by 1.90 per cent to $3.67 trillion and the total trading volume down by 7.20 per cent to $190.85 billion.

Pudgy Penguins PENGU was the most trending as well as top gainer cryptocurrency. It was up by 514.30 per cent to $0.03071. Its 24-hour trading volume was 2.05 billion. Lido DAO LDO was the top loser. It was down by 9.26 per cent. Its 24-hour trading volume was $247.90 million.

DeFi was down by 3.36 per cent to $12.51 billion, Coinmarketcap.com reported.

Sathvik Vishwanath, Co-Founder & CEO, Unocoin said, "Bitcoin's sustained position above $100K suggests upward momentum, with $110K and $120K as potential targets. The daily chart shows consistent higher highs and lows, with $100K now acting as support. However, the 4-hour chart signals caution, as Bitcoin is testing the upper boundary of an ascending channel, which could reverse if broken downward. If Bitcoin maintains its upward trajectory and breaks the channel resistance, a surge toward higher levels is possible. Additionally, declining exchange reserves indicate a tightening supply, which could further fuel price growth, reinforcing bullish expectations for Bitcoin in the short-term."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 1.56 per cent to $105,002.89. Its 24-hour trading volume was $69.76 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 59.5 per cent.

Ethereum: Ethereum ETH was down by 4.25 per cent to $3,853.70 from the previous day. Its 24-hour trading volume was $35.14 billion. Ethereum’s market dominance was 13.3 per cent.

Tether: Tether USDT was trading at $0.9999. It was down by 0.02 per cent. Its 24-hour trading volume was $156.59 billion. It is currently ranked fourth on Coinmarketcap.

Other Altcoins

Solana SOL was up by 1.78 per cent to $218.53. Its 24-hour trading volume was $6.54 billion.

Avalanche AVAX was trading at $47.43, down by 3.69 per cent. Its 24-hour trading volume was $720.7 million.

Cardano ADA was down by $2.84 per cent to $1.04 from the previous day. Its 24-hour trading volume was $1.56 billion.

Meme Coins

Dogecoin DOGE was down by 2.95 per cent, with a 24-hour price of $0.3913.

Shiba Inu SHIB was down by 3.54 per cent to $0.0000261.

Decentralised Finance

DeFi coin was trading at $0.02589, down by 12.56 per cent.

Yearn Finance YFI was down by 5.90 per cent to $10,054.84 in the last 24 hours. Its 24-hour trading volume was $45.91 million.