Crypto Markets Show Recovery: Bitcoin Above $111,000, Ethereum Trades At $4,600

Bitcoin is trading at $111,000, showing a modest gain, while Ethereum has risen above the $4,600-mark, continuing its upward momentum. The broader crypto market reflected cautious optimism after recent fluctuations. At the time of writing, the total crypto market cap saw a marginal gain of 1.93 per cent to $3.87 trillion, while the 24-hour trading volume decreased by 23.42 per cent to $178.46 billion.

Cronos CRO was the most trending cryptocurrency as well as top gainer. Its price was up by 43.06 per cent to $0.2286, and its 24-hour trading volume was $884.97 million. Elsewhere, XDC Network XDC was the top loser. It was down by 2.38 per cent, and its 24-hour trading volume was $47.63 million.

The DeFi market cap was at $35.10 billion, Coinmarketcap.com reported.

Edul Patel, co-founder and CEO of Mudrex said, “The crypto market is attempting a bounce-back with Bitcoin holding above $111,000. A trend reversal can be seen as Bitcoin exchange-traded funds (ETFs) recorded $219 million in net inflows after six days of outflows. Meanwhile, Ethereum also gained about 4 per cent, trading closer to $4,600, and is expected to maintain the upward momentum. ETH saw about 208,000 withdrawals from exchanges, suggesting investors are moving assets into cold storage, reducing sell-side pressure. A daily close above $4700 could make way for Ethereum’s rally towards the $5,000 mark, with a strong support at $4,400.”

Cryptocurrency Prices

Bitcoin (BTC): Bitcoin prices gained by 1.07 per cent today to $111,386.58. Its 24-hour trading volume was $64.14 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 62.60 per cent.

Ethereum (ETH): Ethereum prices were up by 4.43 per cent to $4,625.12. Its 24-hour trading volume was $51.16 billion. Its market dominance was 11.08 per cent.

Tether (USDT): Tether was trading at $1, down by 0.02 per cent. Its 24-hour trading volume was $129.66 billion. It is currently ranked fourth on Coinmarketcap.

Other Altcoins

XRP XRP prices were up by 4.41 per cent to $3.01. Its 24-hour trading volume was $6.89 billion.

Solana prices were up by 13.13 per cent to $203.70. Its 24-hour trading volume was $8.63 billion.

Cardano ADA was trading at $0.8720, up by 2.67 per cent. Its 24-hour trading volume was $1.32 billion.

Avalanche AVAX was trading at $24.54, down by 4.27 per cent. Its 24-hour trading volume was $615.2 million.

Meme Coins

Dogecoin was up by 5 per cent, with a 24-hour price of $0.2227.

Shiba Inu was up by 3.38 per cent to $0.00001261.

Decentralised Finance

DeFi Coin was down by 4.28 per cent, and was trading at $0.002618.

Yearn Finance was up by 5.10 per cent to $5,549.40, with a 24-hour trading volume of $17.88 million.