Crypto Market Declines Marginally Even As Trading Volume Rises; Bitcoin, Ethereum Down

The global crypto market declines marginally on Friday. The total market cap was down by 8.36 per cent to $1.99 trillion, even as the total trading volume was up by 41.45 per cent to $119.8 billion. Bitcoin BTC was the most trending. It was up by 8.61 per cent to $53,915.63. Its 24-hour trading volume was $51.52 million. Tether Gold XAUt was the top gainer. It was up by 0.22 per cent. Its 24-hour trading volume was $4.35 million. Core CORE was the top loser. It was down by 22.28 per cent. Its 24-hour trading volume was $94.78 million.

DeFi was down by 10.10 per cent to $7.74 billion, Coinmarketcap.com reported.

Also Read: Hamilton Releases Tokenized U.S. Treasury Bills on Bitcoin Layer-2s

Sathvik Vishwanath, Co-Founder & CEO, Unocoin said, “Bitcoin fell below $60,000 to $59,544 due to a stronger US dollar and uncertainty over Federal Reserve actions. Positive data on the US labor market, such as increased job vacancies, reduced expectations of a Fed rate cut and further strengthened the dollar. For now, investors favor traditional assets, which has an impact on Bitcoin. Future trends depend on Fed decisions and economic indicators. Changes in Fed policy or economic weakness could quickly change Bitcoin’s trajectory. The upcoming launch of the Ethereum ETF on July 8 could intensify competition in the crypto market and potentially negatively impact Bitcoin’s performance as investors’ attention shifts to Ethereum.”

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 8.61 per cent to $53,915.63. Its 24-hour trading volume was 51.65 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 53.5 per cent.

Ethereum: Ethereum ETH was down by 11.22 per cent to $2,850.46 from the previous day. Its 24-hour trading volume was $28.82 billion. Ethereum’s market dominance was 17.9 per cent.

Tether: Tether USDT was trading at $1.00. It was up by 0.06 per cent. Its 24-hour trading volume was $94.21 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was down by 6.55 per cent to $125.45. Its 24-hour trading volume was $4.14 billion.

Avalanche AVAX was trading at $22.90, down by 11.28 per cent. Its 24-hour trading volume was $492.07 million.

Cardano ADA was down by 15.97 per cent to $0.3291 from the previous day. Its 24-hour trading volume was $694.86 million.

Meme Coins

Dogecoin DOGE was down by 15.33 per cent, with a 24-hour price of $0.09645.

Shiba Inu SHIB was down by 14.74 per cent to $0.00001339.

Decentralised Finance

DeFi coin was trading at $0.03154, down by 16.88 per cent.

Yearn.Finance YFI was down by 14.58 per cent to $5,447.01 in the last 24 hours. Its 24-hour trading volume was $45.53 million.