In the past 24 hours, the cryptocurrency market experienced strong trading activity, with a total trading volume between $170 billion and $185 billion, an increase of 9.4% compared to the previous day. Despite this activity, the total market capitalization, approximately $3.9 trillion, recorded slight fluctuations ranging from -1.76% to +1.5% according to market indicators.

Liquidity dynamics:

• Stablecoins: Captured 97% of the trading volume, with USDT ( $96 billion) and USDC ($15 billion) dominating, reflecting a cautious approach from traders to hedge or wait for better investment opportunities.

• Major currencies: Bitcoin (BTC) saw a trading volume of $45 billion, and Ethereum (ETH) between $40 and $41 billion, with notable inflows towards currencies such as BNB and ADA.

• Decentralized Finance (DeFi): The Total Value Locked (TVL) decreased by 1.67% to $147 billion, with recorded outflows. However, trading volume on decentralized exchanges (DEXs) reached $16.9 billion, and $25.4 billion in perpetual futures.

• Liquidations: The value of liquidations reached between $450 and $506 million, mostly from long-term positions in BTC and ETH, indicating temporary selling pressure amid a slight price drop.

Main beneficiaries:

1 Stablecoins (like Tether): Captured the largest share of trading volume, enhancing their stability and transaction fees.

2 Cardano (ADA): Achieved an increase of 8.3% with rising trading volume, making it one of the main beneficiaries, especially within the Polkadot Ecosystem.

3 Bitcoin: Maintained its dominance at 58% of the market, despite a slight price drop to around $113-$114K, with indications of institutional inflows.

$BTC

4 Other assets: Currencies such as API3, MON, and UMA surged by 30-53%, while ETH and XRP experienced slight losses of 2-3%. The meme coin sector also suffered significant losses, reflecting a shift in liquidity towards more stable assets.

$ETH

Overview:

The market shows signs of slight decline with a tendency for caution among traders. Future movements may be influenced by upcoming economic data or regulatory developments. It is advised to monitor key liquidity levels at $120K and $112K for Bitcoin, as they may be potential reversal points.

#Bitcoin #Ethereum #Trading #Market_Analysis #Cryptocurrencies#ضرار_الحضري