Crypto Market Dips Marginally
The global crypto market declined marginally on Tuesday. The total market cap was down by 2.58 per cent to $2.36 trillion, even as the total trading volume was up by 101.81 per cent to $96.47 billion. zkSync ZK was the most trending as well as top loser cryptocurrency. It was down by 28.75 per cent to $0.2044. Its 24-hour trading volume was $1.17 billion. XRP XRP was the top gainer. It was up by 0.55 per cent. Its 24-hour trading volume was 252.11 million.
DeFi was down by 6.31 per cent to $7.44 billion, Coinmarketcap.com reported.
Also Read: Crypto Market Rises Marginally Even As Trading Volume Gains; Bitcoin, Ethereum Up
Rajagopal Menon, VP, WazirX said, “Cardano (ADA) has dropped to its lowest point of 2024, with technical indicators revealing a significant lack of upward momentum. Both the 50-day and 200-day Exponential Moving Averages indicate a bearish trend, highlighting ongoing weakness. Trading volume remains low, with little buying interest, and the Relative Strength Index is nearing oversold territory.”
He further mentioned, “Ethereum’s price has declined again, retesting the $3,365 support level. A potential upward move towards $3,700 could occur if ETH stays above this critical support. Currently, the price is below the 100-hour Simple Moving Average.”
He added, “Bitcoin (BTC) remains under bearish pressure, with key technical indicators suggesting further potential declines. The hourly MACD is strengthening in the bearish zone, indicating increased selling pressure. Key support levels to monitor are $65,000 and $64,500, with Bitcoin’s ability to hold these levels being crucial for its short-term direction.”
Cryptocurrency Prices
Bitcoin: Bitcoin BTC was down by 0.98 per cent to $65,803.63. Its 24-hour trading volume was $36.11 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 49.06 per cent.
Ethereum: Ethereum ETH was down by 3.69 per cent to $3,455.93 from the previous day. Its 24-hour trading volume was $20.92 billion. Ethereum’s market dominance was 17.4 per cent.
Tether: Tether USDT was trading at $0.9999. It was down by 0.07 per cent. Its 24-hour trading volume was $74.73 billion. It is ranked third on Coinmarketcap.
Other Altcoins
Solana SOL was up by 7.42 per cent to $137.81. Its 24-hour trading volume was $3.48 billion.
Avalanche AVAX was trading at $26.66, down by 10.11 per cent. Its 24-hour trading volume was 458.10 million.
Cardano ADA was down by 7.82 per cent to $0.3806 from the previous day. Its 24-hour trading volume was $585.96 million.
Meme Coins
Dogecoin DOGE was down by 9.62 per cent, with a 24-hour price of $0.1224.
Shiba Inu SHIB was down by 10.59 per cent to $0.00001834.
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DeFi coin was trading at $0.04143, down by 18.37 per cent.
Yearn.Finance YFI was down by 7.63 per cent to $5,712.88 in the last 24 hours. Its 24-hour trading volume was $34.21 million.
This news is republished from another source.
