Except Shiba Inu, which slid for another day due to profit taking, nine of the top 10 cryptocurrencies were trading higher as of 10.30am IST. Solarium and XRP they benefited the most, with an increase of almost 11 percent each.
The global crypto market capitalization jumped around 3 percent, to $ 2.73 trillion compared to last day. However, the total volume of the crypto market was largely unchanged at $ 129.42 billion.
Total volume on DeFi is currently $ 18.79 billion, 14.52 percent of the crypto market's total 24-hour volume. The volume of all stablecoins is now $ 98.31 billion, which is 75.96 percent of the total 24-hour volume of the cryptocurrency market. Bitcoin's dominance stood at 43.55%, a 0.17% decline for the day.
Meanwhile, Commonwealth Bank of Australia said it will become the first in the country to offer crypto services to retail clients, Australia's largest bank said on Wednesday, marking a shift in the sector that had refused to do business. with cryptocurrency providers.
This goes against the stance taken by most Indian banks, which have practically banned cryptocurrency trading using their infrastructure.
ZebPay Trade Desk Technical View
Polkadot (DOT) has risen by more than 13% and set a new all-time high of $ 53.25 last night. The asset has a market capitalization of $ 50 billion and is ranked eighth. During the last 2 days, the asset has had good entries and volumes have almost doubled. Open interest in the DOT futures market increased 18.51% and in the perpetual market 14.70%. The DOT is now facing strong psychological resistance at $ 60, and if it crosses this mark, another rally may occur.
anticipated.
The DOT was operating in a 'Rising Channel' pattern and rallied nearly 80% in the last month. After facing stiff resistance around $ 45, the asset started to consolidate between $ 45 and $ 40. However, DOT finally jumped above the channel and made the new all-time high of $ 53.35. Prices are trading well above the 20-day moving averages and the Relative Strength Index (RSI) is at 70, indicating strength in the trend. If the DOT sustains above $ 50, then we can expect the asset to rise to the next resistance, which is $ 60.
(Opinions and recommendations provided in this section are those of analysts and do not represent those of ETMarkets.com. Please consult your financial advisor before taking a position in the assets listed).
