Synopsis
The market cap of Bitcoin, the world’s largest cryptocurrency, was around $476.09 billion. Bitcoin’s dominance is currently 44.28%, an increase of 0.53% over the day, according to CoinMarketCap.
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Explore NowNew Delhi: The cryptocurrency markets were trading mostly in the red in Wednesday’s trade amid worries over bank industry turmoil in the US.
Bitcoin (BTC) fell 1.52% to $24,532 whereas Ethereum (ETH) was below the $1,700 level. BTC volume in the last 24 hours stood at approximately $21.38 billion, falling 21.37% in the last 24 hours.
“Bitcoin is currently trading at the US$24,000 level, experiencing a slight price decline from the previous day as market participants consider liquidity issues. Additionally, investors are analyzing the possibility of a European banking crisis resulting from concerns surrounding the often-embattled Credit Suisse,” Edul Patel, Co-founder and CEO at Mudrex, said.
Shivam Thakral, CEO of BuyUcoin, said, “The latest developments at Credit Suisse may spook the global markets and spoil the crypto party in the coming weeks.”
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View Details »Other top crypto tokens were also trading lower. Polygon and Solana declined over 7%, while Dogecoin and Polkadot were trading over 5% lower. Meanwhile, the global cryptocurrency market cap was trading lower around $1.07 trillion, falling 2.71% in the last 24 hours.
The total volume in DeFi is currently 7.71 billion, 9.52% of the total crypto market 24-hour volume. The volume of all stablecoins is now $76.42 billion, which is 94.36% of the total crypto market 24-hour volume.
The market cap of Bitcoin, the world’s largest cryptocurrency, was around $476.09 billion. Bitcoin’s dominance is currently 44.28%, an increase of 0.53% over the day, according to CoinMarketCap.
Rajagopal Menon, Vice President at WazirX said, “Major market oscillators point to a neutral sentiment. The Relative Strength Index (14) sits at 60.40, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) indicate a Neutral outlook as well at 70.69 and 25.25, respectively.”
“The MACD Level (12, 26), at 199.58, indicates a Buy. The Stochastic RSI Fast (3, 3, 14, 14) indicates Sell at 94.25. The Williams Percent Range (14) continues to be Neutral at −31.23,” Menon added.
Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 12.39 hours, IST on March 16, 2023)
Bitcoin $24,532 -1.52%
Ethereum $1,659 -2.85%
Tether $1 -0.14%
BNB $318.39 2.00%
XRP $0.3269 -2.20%
Cardano $0.3268 -5.15%
Polygon $1.13 7.33%
Dogecoin $0.0059 -6.50%
Solana $19.52 -8.25%
Polkadot $5.99 -5.13%
Tron $0.06618 -1.51%
Shiba Inu $0.00001045 -7.57%
Litecoin $78.89 -6.13%
(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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