Cryptocurrency Market Update: Today Crypto Prices April 28, 2023

The world of cryptocurrency is constantly evolving, and staying up-to-date with the latest trends and market movements is crucial for any investor. As of April 28, 2023, the global crypto market cap has risen by 2.09 percent to reach $1.08 trillion. Let’s take a closer look at the latest updates and trends in the cryptocurrency market.

Bitcoin Dominance and Total Volume

Bitcoin, the largest cryptocurrency by market cap, continues to hold a dominant position in the market with a current dominance rate of 42.19 percent. This represents a slight decrease of 0.02 percent over the day. The total volume of the crypto market over the last 24 hours has decreased by 4.36 percent to $34.94 billion.

DeFi Volume

The volume of decentralized finance (DeFi) has reached $3.80 billion, accounting for 10.88 percent of the total crypto market 24-hour volume. DeFi has been one of the hottest trends in the cryptocurrency space in recent years, with the potential to disrupt traditional financial systems by allowing for decentralized lending, borrowing, and trading.

Stablecoin Volume

Stablecoins, which are cryptocurrencies that are pegged to the value of a stable asset such as the US dollar, continue to dominate the market with a total volume of $30.82 billion. This represents 88.20 percent of the total crypto market 24-hour volume. Stablecoins are popular among cryptocurrency traders as they offer a way to hedge against market volatility and provide a stable store of value.

The Bottom Line

The cryptocurrency market is constantly changing, and staying informed about the latest trends and market movements is essential for any investor. As of April 28, 2023, Bitcoin continues to dominate the market, while DeFi and stablecoins are gaining traction among traders. As always, it’s important to do your research and consult with a financial advisor before making any investment decisions in the cryptocurrency space.