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Bitcoin's value remained below the US$29,500 threshold as investors eagerly awaited the U.S. Federal Reserve's decision, scheduled for later today. Although BTC experienced a dip to a one-month low at the beginning of the week, it has been gradually rebounding, Edul Patel, Co-founder and CEO at Mudrex, said.
The total volume in DeFi is currently $2.51 billion, 7.33% of the total crypto market 24-hour volume. The volume of all stablecoins is now $30.82 billion, which is 90.2% of the total crypto market 24-hour volume.
The market cap of Bitcoin, the world's largest cryptocurrency, was around $578 billion. Bitcoin's dominance is currently 48.58%, an increase of 0.04% over the day, according to CoinMarketCap.
Bitcoin continued to trade below the US$30,000 mark for another consecutive day, influenced by various factors such as investors taking profits and the strengthening of the US dollar, Edul Patel, Co-founder and CEO at Mudrex, said.
"BTC continues to perform within a narrow range of less than 2%, around $30k. In the last 24 hours, XRP continued to be amongst the top performers in terms of volumes and price change. Interestingly, XRP has surpassed the trading volumes of BTC on a majority of exchanges ever since the court ruling against SEC fell in its favor," Shubham Hudda, Senior Manager at CoinSwitch Markets Desk, said.