Crypto Market Dips, Trading Volume Declines 37 Per cent; Bitcoin, Ethereum Up

The global crypto market decreased marginally on Wednesday, at the time of writing, with the total market cap down by 4.23 per cent to $3.64 trillion. The total trading volume was down by 37.03 per cent to $195.69 billion.

PUMP TRUMP PUMPTRUMP was the most trending cryptocurrency. It was up by 55.05 per cent to $0.0004016. Its 24-hour trading volume was 9.55 million. ai16z AI16Z was the top gainer. It was up by 43.90 per cent. Its 24-hour trading volume was $337.21 million. OKB OKB was the top loser. It was down by 2.49 per cent. Its 24-hour trading volume was $9.13 million.

DeFi was up by 4.06 per cent to $10.81 billion, Coinmarketcap.com reported.

Sathvik Vishwanath, Co-Founder & CEO, Unocoin said, "Bitcoin is currently trading at $105,565.14, after peaking at $109,350 earlier. The price movement seems to reflect a "buy the rumour, sell the news" pattern, as traders reacted to expectations surrounding Trump’s inauguration and potential crypto-friendly policies. Speculation around Trump’s possible executive order on crypto and the creation of a national Bitcoin reserve had fueled optimism. However, the launch of Trump and Melania meme coins diverted some market capital, limiting Bitcoin’s upward momentum. Despite the broader crypto market dropping 3.6%, Bitcoin remains resilient, reflecting ongoing interest in regulatory shifts."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was up by 4.37 per cent to $105,565.14. Its 24-hour trading volume was 76.68 billion. It is currently ranked one on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 57.0 per cent.

Ethereum: Ethereum ETH was up by 3.14 per cent to $3,320.52 from the previous day. Its 24-hour trading volume was $28.32 billion. Ethereum’s market dominance was 11.6 per cent.

Tether: Tether USDT was trading at $1.00. It was down by 0.13 per cent. Its 24-hour trading volume was $154.77 billion. It is currently ranked fourth on Coinmarketcap.

Other Altcoins

Solana SOL was up by 9.41 per cent to $255.82. Its 24-hour trading volume was $9.18 billion.

Avalanche AVAX was trading at $37.09, up by 6.42 per cent. Its 24-hour trading volume was $446.28 billion.

Cardano ADA was up by 1.95 per cent to $1.00 from the previous day. Its 24-hour trading volume was $1.49 billion.

Meme Coins

Dogecoin DOGE was up by 8.00 per cent, with a 24-hour price of $0.3695.

Shiba Inu SHIB was up by 3.32 per cent to $0.00002063.

Decentralised Finance

DeFi coin was trading at $0.04431, up by 17.12 per cent.

Yearn Finance YFI was up by 2.07 per cent to $7,755.55 in the last 24 hours. Its 24-hour trading volume was $26.44 million.