In the world of cryptocurrencies, Bitcoin and Ethereum experienced a decline on Friday, with Bitcoin falling by 2.60% to $34,630.39 and Ethereum dropping by 3.20% to $1,797.61. Despite the daily dip, Bitcoin saw a weekly gain of 1.68%, bringing its market cap to $676.14 billion while Ethereum rose by 0.63% over the week, pushing its market cap to $216.07 billion.
On the same day, other cryptocurrencies such as BNB, XRP, Cardano, and Dogecoin experienced price fluctuations. Notably, Solana led the pack with a robust weekly increase of 17.79%. PancakeSwap was another standout performer with a 9% daily rise.
In contrast to the fluctuating prices of these cryptocurrencies, stablecoins like Tether, USD Coin, and Binance showed low volatility. DeFi tokens such as Chainlink (down 7.30%), Wrapped Bitcoin, Dai, Avalanche, and Uniswap also varied in performance.
The market also observed activity in NFT tokens including Internet Computer (up 5.82%), Render, Stacks, Immutable, and Axie Infinity. The top five gainers in a day were Cronos (TSX:CRON) (up 7.04%), PancakeSwap, Trust Wallet Token, Mantle, and UNUS SED LEO while the biggest losers were Conflux (down 13.65%), Render, Neo, Pepe, and Compound.
The total crypto market volume over the last 24 hours was $50.25 billion with a global crypto market cap of $1.29 trillion marking a daily increase of 1.32%. This was slightly higher than the previous day's total crypto market volume of $48.57 billion which marked a decrease of 2.66%.
The Fear & Greed Index for the crypto market was at 72 on Friday, indicating a level of investor sentiment that can influence market behavior. The top cryptocurrencies were Bitcoin, Ethereum, BNB, Tether, XRP, Cardano, Solana, Dogecoin, TRON, and USDC, each with varying degrees of increase or decrease in price over the last 24 hours.
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