The largest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), were trading with gains on Friday morning. Meanwhile, today’s most trending crypto was Ethereum.
The global crypto market capitalisation went up by 1.6 per cent to $1.1 trillion as of 8.50 am. However, the global crypto volume was down by 5.78 per cent to $42.07 billion, according to Coinmarketcap data.
The trading volume in the decentralised finance coins section is about $4.91 billion or 11.68 per cent of the total crypto market 24-hour volume. The volume of all stable coins is $37.98 billion or about 90.28 per cent of the total crypto market volume in the last 24 hours.
As of 8.50 am, Bitcoin rose 1.19 per cent to $23,298.14 and currently commands a 40.33 per cent dominance in the crypto market.
The price of Ethereum this morning was $1,711.57 and it was up by 1.53 per cent.
Regarding price analysis, Ethereum made significant upward moves. It seems that Ethereum’s price was down due to profit booking. At some point after 2.49PM on August 7, the price came in the red territory and below $1,680. But after 5PM on August 7, the price of Ethereum seemed to recover little by little and by 6.24PM, the price breached the $1,700 mark.
However, 5 hours ago around 3.49AM, there was significant attempt to bring down Ethereum’s price and it was partially successful too.
Price of Ethereum came down from $1,717 on 3.49AM to $1,693 on 4.49AM, August 8. But after hitting that low the price recovered.
Solana’s price today was up by 4.13 per cent at $41.46.
Cardano (ADA) rose by 3.49 per cent at $0.53. The 24-hour trading volume for ADA was up by 38.49 per cent at $525,084,778.
Binance (BNB) was up by 5 per cent at $327.04. Its 24-hour trading volume was down by 7.22 per cent at $1,056,165,829.
Binance and WazirX, an Indian crypto exchange, have been fighting on Twitter after reports that the Directorate of Enforcement (ED) is investigating two cases against WazirX under the Foreign Exchange Management Act, 1999 (FEMA) came into public domain.
Dogecoin (DOGE) was up by 2.02 per cent at $0.06974. Its 24-hour trading volume was down by 13.51 per cent at $198,165,638.
Shiba Inu (SHIB) was up by 2.43 per cent at $0.00001221.
Decentralised Finance (DeFi)
Yearn.Finance (YFI) fell 1.19 per cent at $11,418.76. Its 24-hour trading volume was down by 36.41 per cent at $57,528,839.
Avalanche (AVAX) rose 4.97 per cent at $27.77 and its 24-hour trading volume was up by 9.94 per cent at $786,365,143.
Aave (AAVE) was trading with a gain of 3.59 per cent at $102.70 and its 24-hour trading volume was up by 13.1 per cent at $136,401,265.