Markets
Cryptocurrency market drops marginally, trading volume decreases; Bitcoin down, Ethereum up
The cryptocurrency market drops marginally
The global cryptocurrency market fell marginally on Saturday. Total market capitalization fell 0.35% to $2.53 trillion, while total trading volume fell 0.68% to $73.7 billion. Notcoin NOT was the most trending cryptocurrency. It rose 6.88% to $0.01247. Its 24-hour trading volume was $564.13 million. JasmyCoin JASMY was the biggest winner. It increased by 15.69%. Its 24-hour trading volume was $453.31 million. Ordi ORDI was the main loser. It was down 9.05%. Its 24-hour trading volume was $302.90 million.
DeFi fell 0.41% to $5.95 billion, Coinmarketcap.com reported.
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Rajagopal Menon, VP of WazirX, said: “At the time of writing, Bitcoin is trading at $67,664, down 1.36% over the past 24 hours. BTC’s market capitalization has fallen to $1.333 trillion , with trading volume dropping 6.71% to $26.8 billion, reflecting reduced trader interest. Bitcoin remains in a consolidation phase between $66,000 and $70,000.
He further stated, “On the daily chart, Bitcoin struggles to close above the $69,000 resistance, needing to break this level to continue its uptrend. The next resistance points are $72,000 and $73,700. Key supports are the EMA21 at $67,241 and EMA55 at $65,528.”
He added: “Bitcoin hit an all-time high of $73,000 in early March. This surge saw long-term holders sell off, causing oversupply and a price correction. Recent inflows into Bitcoin ETFs, on average of $242 million per day, suggest renewed buyer interest despite ongoing selling pressure from miners of $32 million per day.”
Cryptocurrency prices
Bitcoin: Bitcoin BTC fell 1.20% to $67,616.67. Its 24-hour trading volume was $26.31 billion. It is currently ranked first on Coinmarketcap, based on market capitalization. Bitcoin’s market dominance was 52.7%.
Ethereum: EthereumETH rose 0.97% to $3,768.11 from the previous day. Its 24-hour trading volume was $15.10 billion. Ethereum’s market dominance was 18.0%.
Bind: Tether USDT was trading at $0.9992. It was down 0.06%. Its 24-hour trading volume was $56.85 billion. It is ranked third on Coinmarketcap.
Other Altcoins
Solana SOL rose 0.39% to $166.95. Its 24-hour trading volume was $2.30 billion.
Avalanche AVAX traded at $35.93, down 0.26%. Its 24-hour trading volume was $278.42 million.
Cardano ADA rose 0.19% to $0.4484 from the previous day. Its 24-hour trading volume was $267.51 million.
Meme coins
Dogecoin DOGE rose 0.05%, with a 24-hour price of $0.1592.
Shiba Inu SHIB fell 1.95% to $0.00002523
Decentralized finance
The DeFi coin traded at $0.05698, down 11.51%.
Yearn.Finance YFI fell 1.17% to $6,920.44 over the past 24 hours. Its 24-hour trading volume was $14.24 million.