Crypto Market: Market cap declines slightly after a decent trading session the previous day

The crypto market cap declined slightly in the last 24 hours after a decent trading session the previous day.

The crypto market cap declined slightly in the last 24 hours after a decent trading session the previous day. At the time of writing, the global crypto market cap was at $2.73T, a decline of 0.80% over the previous day. Meanwhile, the total trading volume of the cryptocurrency market in the same time frame was $65.28B, a 37.64% increase.

The total volume in DeFi was around $5.12B, contributing 7.84% of the total crypto market trading volume in 24 hours. Whereas, the stable coin's trading volume was $61.15B, a share of 93.67% of the total cryptocurrency market 24-hour volume.

To the total crypto market volume Bitcoin’s contributed 60.72%, a surge of 0.05% over the day. All major cryptocurrencies, like Bitcoin, Ethereum, Tether, BNB, Solana, were trading kind of flat, while Pi network was down over 5%.

"Bitcoin is consolidating below $84,000 with a breakout on the cards based on seasonality and other technical indicators. The asset needs to overcome critical resistance at $86,500 for a sustained rally in the next 2 weeks. The reversal should begin with confidence from institutional players - Bitcoin spot ETFs had more than $800 million worth of outflows last week," said Vikram Subburaj, CEO, Giottus Crypto Platform.

Major Cryptocurrencies Price Today

Bitcoin Price Today: The World's top cryptocurrency was trading at $83,6891.89, down 0.75 percent in the last 24 hours.

Ethereum Price Today: The cryptocurrency was trading over the $1,900 level, following upside momentum in the past two sessions. At the time of writing Ethereum was at $1,909.53, down 0.91%.

Tether Price Today: Tether was trading flat at $1.

Solana Price: Solana Price was at $129.02, down 0.84% in the past 24 hours.

Dogecoin: The meme coin was trading at $0,1,731, down 0.77% in the last 24 hours.

Pi Network Price Today: The cryptocurrency fell over 7.70 percent in the last 24 hours and it was trading at $1.39.

"Major altcoins have bled this quarter with Ethereum losing 42% against Bitcoin’s 11% drop. Key outliers who have gained this week include - BNB, Toncoin and Polkadot. Bitcoin’s dominance of the crypto market is now above 61% - this will likely drop below 60% if Bitcoin rallies and altcoins showcase strength. The market continues to be in ‘fear’ (at 32) as per the Crypto Fear & Greed Index," Vikram Subburaj said.

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