Crypto Market Gains Marginally, Trading Volume Surges 17 Per Cent; Bitcoin, Ethereum Up

The global crypto market increased marginally on Friday, with the total market cap up by 1.04 per cent to $3.4 trillion and the total trading volume up by 17.69 per cent to $117.69 billion. Bitcoin BTC was the most trending cryptocurrency. It was up by 1.36 per cent to $96,602.30. Its 24-hour trading volume was 41.84 billion. SPX6900 SPX was the top gainer. It was up by 23.98 per cent. Its 24-hour trading volume was $95.24 million. Virtuals Protocol VIRTUAL was the top loser. It was down by 13.43 per cent. Its 24-hour trading volume was $529.20 million.

DeFi was up by 1.75 per cent to $9.07 billion, Coinmarketcap.com reported.

Sathvik Vishwanath, Co-Founder & CEO, Unocoin said, "Bitcoin gained 7 per cent in three days and briefly breached the $97,750 resistance on Thursday. The price increase follows MicroStrategy's $200 million BTC purchase on December 29. Despite the market slump at the end of December due to the Fed's hawkish stance, Bitcoin has rebounded following MicroStrategy's continued purchases. Shares of Coinbase ( COIN ) and MicroStrategy ( MSTR ) rose 3 per cent, signaling investor optimism. However, daily active bitcoin addresses fell to a 50-day low, 30 per cent below last month's high, suggesting reduced retail activity. Chain data and stock performance suggest potential for further gains, with market sentiment improving despite a drop in active users."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was up by 1.36 per cent to $96,602.30. Its 24-hour trading volume was $41.84 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 up by 1.43 per cent to $3,451 from the previous day. Its 24-hour trading volume was $20.27 billion. Ethereum’s market dominance was 13.3 per cent.

Tether: Tether USDT was trading at $0.9994. It was up by 0.12 per cent. Its 24-hour trading volume was $95.66 billion. It is currently ranked fourth on Coinmarketcap.

Other Altcoins

Solana SOL was up by 1.92 per cent to $208.14. Its 24-hour trading volume was $3.55 billion.

Avalanche AVAX was trading at $39.70, up by 2.28 per cent. Its 24-hour trading volume was $504.06 million.

Cardano ADA was up by 7.62 per cent to $1.01 from the previous day. Its 24-hour trading volume was $1.26 billion.

Meme Coins

Dogecoin DOGE was up by 1.60 per cent, with a 24-hour price of $0.3383.

Shiba Inu SHIB was up by 2.15 per cent to $0.00002166.

Decentralised Finance

DeFi coin was trading at $0.02512, down by 9.32 per cent.

Yearn Finance YFI was down by 1.27 per cent to $8,344.60 in the last 24 hours. Its 24-hour trading volume was $25.32 million.