Synopsis
The total volume in DeFi is currently 4.31 billion, 7.94% of the total crypto market 24-hour volume. The volume of all stablecoins is now $49.85 billion, which is 91.78% of the total crypto market 24-hour volume.
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Explore NowNew Delhi: The cryptocurrency markets were trading higher on Friday. Bitcoin (BTC) rose 2.21% to $28,262, whereas Ethereum (ETH) was above the $1,800 level. BTC volume in the last 24 hours stood at approximately $22.93 billion, falling 29.05% in the last 24 hours.
“The crypto market reacted sharply to the interest rate hike announced by Fed in its latest FOMC meeting. Bitcoin was poised to test the $30,000 level but lost steam after Fed continued its hawkish stance to tame soaring inflation. Bitcoin recovered from the Fed shock today and is back above the $28,000 level, while Ethereum and other digital assets showed a similar upward trend,” Dhruvil Shah, SVP of Technology at Liminal, said.
Other top crypto tokens were also trading higher on Friday. Litecoin surged over 8%. Dogecoin, XRP and Tron were also trading with gains. The global cryptocurrency market cap was trading higher around $1.18 trillion, rising 2.24% in the last 24 hours.
The total volume in DeFi is currently 4.31 billion, 7.94% of the total crypto market 24-hour volume. The volume of all stablecoins is now $49.85 billion, which is 91.78% of the total crypto market 24-hour volume.
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View Details »The market cap of Bitcoin, the world’s largest cryptocurrency, was around $547 billion. Bitcoin’s dominance is currently 46.22%, an increase of 0.01% over the day, according to CoinMarketCap.
Bitcoin’s technical analysis shows an uptrend with resistance at $28,950 and support levels around $26,600 and $25,200 in a downtrend, Sathvik Vishwanath, Co-founder & CEO of Unocoin, said.
Rajagopal Menon, Vice President at WazirX said, “Major market indicators point towards a Neutral sentiment. The Relative Strength Index (14), one of the key indicators, sits at 67.80, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) is at 89.53 and 35.98, respectively, further indicating a neutral market.”
“The MACD Level (12, 26), at 1465.10, indicates a Buy. The Stochastic RSI Fast (3, 3, 14, 14) is at 87.56 with a “Neutral” indicator, while the Williams Percent Range (14) at -7.83 signals Sell,” Menon added.
Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 12.00 hours, IST on March 24, 2023)
Bitcoin $28,344 2.28%
Ethereum $1,815 3.47%
Tether $1 -0.16%
BNB $325.85 0.35%
XRP $0.4377 2.07%
Cardano $0.3669 0.64%
Polygon $1.14 1.55%
Dogecoin $0.07675 2.52%
Solana $22.01 1.62%
Polkadot $6.31 2.67%
Tron $0.065 4.74%
Shiba Inu $0.00001079 0.82%
Litecoin $95.36 8.59%
(Note: Price change in last 24 hours)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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