Summary of this article
Crypto market cap drops to $3.84T, trading volume up by 7.5 per cent.
Bitcoin and Ethereum prices dip amid cautious market sentiment.
Mantle gains, Cardano loses most, DeFi market remains stable.
Cryptocurrency markets experienced a downturn today, with Bitcoin hovering around $113,000 and Ethereum slipping to $4,100. At the time of writing, the total crypto market cap saw a marginal dip of 0.78 per cent to $3.84 trillion, while the 24-hour trading volume increased by 7.56 per cent to $185.56 billion.
Bitcoin BTC was the most trending cryptocurrency. Its price was down by 0.28 per cent to $113,720.97, and its 24-hour trading volume was $61.28 billion. Elsewhere Mantle MNT was the top gainer. It was up by 10.62 per cent, and its 24-hour trading volume was $757.51 million. Cardano ADA was the top loser. It was down by 8.16 per cent, while its 24-hour trading volume was $258.90 million.
The DeFi market cap was at $40.36 billion, Coinmarketcap.com reported.
Cryptocurrency Prices
Bitcoin (BTC): Bitcoin prices declined by 1.03 per cent today to $113,720.97. Its 24-hour trading volume was $71.65 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 down by 0.76 per cent to $4,198.20. Its 24-hour trading volume was 50.63 billion, and its market dominance was 11.08 per cent.
Tether (USDT): Tether was trading at $0.9999, down by 0.04 per cent. Its 24-hour trading volume was $130.42 billion. It is currently ranked fourth on Coinmarketcap.
Sathvik Vishwanath, Co-Founder & CEO, Unocoin said, “Bitcoin (BTC) is facing a pullback after last week’s all-time high of $124,500, slipping to $113,578 amid caution ahead of Jerome Powell’s Jackson Hole address. The price has dropped 7.6 per cent, triggering significant capitulation among short-term holders (STHs). Onchain data from CryptoQuant shows over 20,000 BTC held for less than 155 days were sold at a loss since Sunday. Loss-taking peaked Tuesday, with 23,520 BTC sent to exchanges, coinciding with a 3.5 per cent decline from $118,600 to $114,400, according to Glassnode. Despite this pressure, analysts suggest bears may struggle to push BTC below $100,000 given resilient technical support levels.”
Other Altcoins
XRP XRP prices were down by 4.30 per cent to $2.88. Its 24-hour trading volume was $6.87 billion.
Solana prices were up by 0.71 per cent to $181.26. Its 24-hour trading volume was $5.6 billion.
Cardano ADA was trading at $0.8504, down by 8.16 per cent. Its 24-hour trading volume was $2.62 billion.
Avalanche AVAX was trading at $22.88, down by 0.94 per cent. Its 24-hour trading volume was $560.13 million.
Meme Coins
Dogecoin was down by 2.17 per cent, with a 24-hour price of $0.2173.
Shiba Inu was down by 1.86 per cent to $0.00001226.
Decentralised Finance
DeFi Coin was down by 15.69 per cent, trading at $0.002239.
Yearn Finance was down by 0.11 per cent to $5,455.01, with a 24-hour trading volume of $15.74 million.
