New Delhi: The cryptocurrency markets were trading flat in Friday’s trade. Bitcoin (BTC), Ethereum (ETH) and XRP were trading with gains, while BNB, Dogecoin and Solana were trading with cuts.

BTC rose 0.29% to $29,230, while ETH was above the $1,900 level. BTC volume in the last 24 hours stood at approximately $16.57 billion, falling 14.90% in the last 24 hours.

“BTC is holding strong above the $29,000 mark while Ether is almost touching the $1900 level. The crypto market is witnessing restricted growth due to high inflation and other macroeconomic factors and the Jobs data on Friday will act as a key stimulant for the market momentum,” Shivam Thakral, CEO of BuyUcoin, said.

The global cryptocurrency market cap was trading flat at around $1.20 trillion, falling 0.02% in the last 24 hours.

The total volume in DeFi stood at 2.21 billion, 6.52% of the total crypto market 24-hour volume. The volume of all stablecoins stood at $30.49 billion, which is 89.89% of the total crypto market 24-hour volume.

The market cap of Bitcoin, the world’s largest cryptocurrency, was around $565 billion. Bitcoin’s dominance was at 47.25%, an increase of 0.12% over the day, according to CoinMarketCap.

“BTC continues to hover around $29k, up 0.9% from yesterday. However, BTC’s dominance rate in the broader markets has risen to a 22-month high of 49 percent. Experts believe this to be a result of the ongoing banking woes in the US,” Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, said.Rajagopal Menon, Vice President at WazirX said, “Major market oscillators point toward a Neutral sentiment. The Relative Strength Index (14), one of the key indicators, sits at 55, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) is at 68 and 20, respectively, further indicating a Neutral market.”

“The MACD Level (12, 26) at 186 indicates a Sell. The Stochastic RSI Fast (3, 3, 14, 14) is at 74 with a Neutral indicator, while the Williams Percent Range (14) at −24 signals Neutral,” Menon added.

Crypto Cart: Quick Glance (Source:, data as of 12.27 hours, IST on May 05, 2023)

Bitcoin $29,230 0.29%
Ethereum $1,902 0.02%
Tether $1.00 0.03%
BNB $325 -0.46%
XRP $0.4637 0.27%
Cardano $0.3908 -0.98%
Dogecoin $0.07869 -0.96%
Polygon $0.9881 -1.03%
Solana $21.76 -2.17%
Polkadot $5.73 -0.33%
Shiba Inu $0.000009947 -1.05%
Litecoin $88.07 -0.60%
Tron $0.06967 0.54%

(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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