Crypto Market Falls Marginally, Trading Volume Gains 6 Per Cent; Bitcoin, Ethereum Down

The global crypto market decreased marginally on Wednesday, with the total market cap down by 2.87 per cent to $3.14 trillion and the total trading volume up by 6.12 per cent to $102.8 billion.

Bitcoin BTC was the most trending cryptocurrency. It was down by 2.37 per cent to $95,869.91. Its 24-hour trading volume was 26.27 billion. FTX Token FTT was the top gainer. It was up by 5.25 per cent. Its 24-hour trading volume was $32.53 million. Ethena ENA was the top loser. It was down by 12.31 per cent. Its 24-hour trading volume was $255.26 million.

DeFi was up by 3.21 per cent to $8.87 billion, Coinmarketcap.com reported.

Sathvik Vishwanath, co-founder and CEO, Unocoin, said: "The cryptocurrency market has seen a 2.21% increase overnight, with a trading volume of $97.94 billion, pushing the total market value to $3.24 trillion. Bitcoin (BTC) has gained 1.14% in the last 24 hours, with a trading volume of $34.27 billion. Despite a slight drop in the past week, BTC has surged 4.21% in the last month and boasts a YTD return of 5.24%. Technical indicators, like the MACD and 50-day EMA, suggest a positive outlook for Bitcoin, with potential resistance levels near $100,000. However, if bearish pressure prevails, BTC could drop to around $92,000."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 2.37 per cent to $95,869.91. Its 24-hour trading volume was $37.22 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 56.59 per cent.

Ethereum: Ethereum ETH was down by 3.67 per cent to $2,606.89 from the previous day. Its 24-hour trading volume was $20.34 billion. Ethereum’s market dominance was 13.3 per cent.

Tether: Tether USDT was trading at $0.9998. It was up by 0.02 per cent. Its 24-hour trading volume was $80.42 billion. It is currently ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was down by 0.04 per cent to $195.59. Its 24-hour trading volume was $3.37 billion.

Avalanche AVAX was trading at $25.21, down by 5.73 per cent. Its 24-hour trading volume was $339.18 million.

Cardano ADA was down by 4.86 per cent to $0.7670 from the previous day. Its 24-hour trading volume was $1.45 billion.

Meme Coins

Dogecoin DOGE was down by 5.11 per cent, with a 24-hour price of $0.2531.

Shiba Inu SHIB was down by 3.47 per cent to $0.00001567.

Decentralised Finance

DeFi coin was trading at $0.02507, down by 6.44 per cent.

Yearn Finance YFI was down by 2.84 per cent to $5,762.13 in the last 24 hours. Its 24-hour trading volume was $22.98 million.