“Crypto markets have continued to be tightly range-bound as overall market capitalization remained just below $1.2 trillion over the weekend, without any change in the last 24 hours. Investors are currently displaying a lack of initiation for trend control. It is because of this that we can expect the market to perform sideways till a prominent narrative picks up,” Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, said.
The total volume in DeFi is currently $2.29 billion, 8.67% of the total crypto market 24-hour volume. The volume of all stablecoins is now $24.44 billion, which is 92.65% of the total crypto market 24-hour volume.
The global cryptocurrency market cap was trading higher around $1.12 trillion, declining 0.92% in the last 24 hours.
The market cap of Bitcoin, the world’s largest cryptocurrency, was around $519 billion. Bitcoin’s dominance is currently 45.83%, a decrease of 0.08% 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 45, with a neutral outlook. The Stochastic %K (14, 3, 3) at 44 and the Average Directional Index (14) at 18 indicate a Neutral outlook as well.
“The MACD Level (12, 26), at −151, indicates “Sell”. The Stochastic RSI Fast (3, 3, 14, 14) is “Neutral” at 46 and William’s Percentage is “Neutral” at 62 as well,” Menon added.
Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 12.24 hours, IST on June 5, 2023)
Bitcoin $26,796 -1.20%
Ethereum $1,871 -1.43%
Tether $1.00 -0.02%
BNB $301 -2.01%
XRP $0.5376 2.72%
Cardano $0.3723 -1.36%
Dogecoin $0.07211 -1.54%
Polygon $0.867 -1.78%
Solana $21.53 0.18%
Litecoin $93.37 -2.1%
Polkadot $5.26 -1.53%
Tron $0.08147 0.71%
Shiba Inu $0.000008539 -1.15%
(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)
