Crypto Market Dips Marginally, Trading Volume Declines 6.68%
The global crypto market saw a slight decline on Saturday. The total market cap decreased by 0.40% to $2.34 trillion, with the total trading volume down by 6.68% to $64.76 billion.
Market Highlights
- LayerZero (ZRO) was the most trending and the top loser cryptocurrency, down by 16.98% to $2.82. Its 24-hour trading volume was $333.40 million.
- Arweave (AR) was the top gainer, increasing by 8.89%. Its 24-hour trading volume was $78.39 million.
- DeFi (Decentralized Finance) saw a slight increase of 0.77% to $4.88 billion.
Bitcoin and Ethereum Performance
Bitcoin remained steady around the $64,500 level. Despite a minor dip of 1.13% in the last 24 hours, Bitcoin has shown resilience with a modest decline of 3.34% over the past week. Investors are cautious due to concerns over prolonged higher U.S. borrowing costs. This sentiment has impacted Bitcoin significantly.
- Bitcoin (BTC): Down by 0.38% to $64,389.42. Its 24-hour trading volume was $24.22 billion. Bitcoin maintains a market dominance of 54.4%.
Ethereum also saw a minor decrease:
- Ethereum (ETH): Down by 0.35% to $3,506.01. Its 24-hour trading volume was $15.05 billion. Ethereum holds a market dominance of 18.3%.
Performance of Other Cryptocurrencies
Tether (USDT) was trading at $0.9996, up by 0.03%. Its 24-hour trading volume was $49.73 billion.
Other Altcoins:
- Solana (SOL): Up by 2.13% to $135.82. Its 24-hour trading volume was $2.05 billion.
- Avalanche (AVAX): Trading at $24.94, up by 10.45%. Its 24-hour trading volume was $385.15 million.
- Cardano (ADA): Down by 3.53% to $0.3752. Its 24-hour trading volume was $268.20 million.
Meme Coins:
- Dogecoin (DOGE): Up by 0.21% to $0.1244.
- Shiba Inu (SHIB): Up by 0.01% to $0.00001802.
Decentralized Finance:
- DeFi Coin: Trading at $0.04117, down by 3.79%.
- Yearn.Finance (YFI): Down by 1.54% to $5,844.98. Its 24-hour trading volume was $14.41 million.
Conclusion
The crypto market is experiencing a minor downtrend. Investors are advised to monitor market trends and support levels closely. Bitcoin and Ethereum, the leading cryptocurrencies, are exhibiting resilience despite slight declines, while other altcoins and meme coins demonstrate mixed performances.
