Crypto Market Struggles for Recovery While Fear Persists among Investors

News Brief

The global crypto market is attempting a recovery as major assets post modest gains, lifting the total market capitalization to $2.9T with a 1.01% increase. However, 24-hour trading volume declined 9.21% to $107.7B. The Crypto Fear & Greed Index remains at 29, indicating investors continue to feel anxious. Bitcoin trades at $88,353.57, up 0.65%, maintaining 59.1% market dominance, while Ethereum surged 9.21% to $107.7B, capturing 11.9% market share.Today's top performers include Purple Frog, which skyrocketed an astonishing 4455.45% to $0.0004594, HARRIS DOGS climbing 1793.39% to $0.01117, and Mubarak soaring 1266.48% to $0.01917. Meanwhile, DeFi total value locked expanded 2.76% to $119.872B, with Aave leading at $34.212B following a 1.94% rise. NFT sales dropped 28.48% to $8,797,565, though Flying Tulip PUT defied this trend, rising 18.70% to $2,107,508.On the regulatory side, Senator Roger Marshall withdrew his crypto amendment, Polymarket secured a licensing partnership with Major League Soccer, and a dormant whale transferred $250M in Ethereum to Gemini after 9 years of silence.

The worldwide crypto sector is witnessing attempts at recovery as the top crypto assets show slight increases. Hence, the cumulative crypto capitalization has reached $2.9T, after a 1.01% spike. However, the 24-hour crypto volume has slumped by 9.21%, touching $107.7B. At the same time, the Crypto Fear & Greed Index stands at 29 points, underscoring “Fear” among the market participants.

Bitcoin($BTC) Surges by 0.65% and Ethereum ($ETH) Sees 9.21% Spike

The flagship cryptocurrency, Bitcoin ($BTC), is now changing hands at $88,353.57. This indicates a slight 0.65% price surge while the market dominance of Bitcoin sits at 59.1%. Additionally, the leading altcoin, Ethereum ($ETH), is currently trading at $107.7B, showing a 9.21% jump. In the meantime, $ETH accounts for a market dominance of up to 11.9%.

$PF, $DOGS, and $MUBARAK Dominate Today’s Top Crypto Gainers

Apart from that, the list of today’s top crypto gainers includes Purple Frog ($PF), HARRIS DOGS ($DOGS), and Mubarak ($MUBARAK). Particularly, $PF has surged by a noteworthy 4455.45% as its price has reached $0.0004594. Subsequently, a 1793.39% increase has placed $DOGS’ price at $0.01117. Following that, $MUBARAK is now hovering around $0.01917 after a 1266.48% climb.

DeFi TVL Records 2.76% Rise While NFT Sales Volume Drops by 28.48%

Simultaneously, the DeFi TVL has recorded a 2.76% increase, hitting the $119.872B mark. In addition to this, the leading DeFi project in terms of TVL, Aave, has spiked by 1.94%, attaining the $34.212B spot. Nevertheless, when it comes to 1-day TVL change, foxify is the dominant DeFi project, accounting for a staggering 62919582865% growth over the past twenty-four hours.

Contrarily, the NFT sales volume has gone through a 28.48% slump, claiming the $8,797,565 figure. Even then, the top-selling NFT collection, Flying Tulip PUT, has surged by 18.70%, touching $2,107,508.

Senator Marshall Drops Crypto Amendment, Polymarket Secures MLS Deal

Concurrently, the crypto industry has also experienced many other key developments around the world. In this respect, Senator Roger Marshall has reportedly pulled back from his push for crypto market structure policy amendment targeting to force entities to compete in the case of swipe fees. Moreover, Polymarket has signed a licensing contract with Major League Soccer (MLS). Furthermore, a 9-year dormant whale has transferred $250M in $ETH to Gemini.