The crypto landscape has recently encountered a substantial dip, with major assets experiencing notable price slumps. Reports indicate a 2.69% decrease in cumulative crypto market capitalization, now resting at $3.42 trillion. Interestingly, the 24-hour trading volume has demonstrated resilience, rising by 1.34% to reach $160.18 billion. Despite the downturn, investor sentiment is revealing signs of optimism, with the Fear & Greed index currently sitting at 67 points, indicating a state of “greed” in the market.
Bitcoin Plunges by 2.23% and Ethereum Witnesses 5.47% Dip
Bitcoin ($BTC), the leading cryptocurrency, has seen its price fall to $108,319.17, marking a 2.23% decrease in the past 24 hours. This downturn comes amidst a market dominance of 63.1%, solidifying Bitcoin’s status as the heavyweight contender in the crypto scene. In tandem, Ethereum ($ETH) faced a more substantial drop, with its price plummeting by 5.47%, settling at $2,548.89. The second-largest digital asset now maintains a market dominance of 9.0%, reflecting ongoing volatility within the sector.
$HODL, $MIST, and $FTW Lead Top Daily Crypto Gainers with 2275.25%, 1456.89%, and 1317.49% Price Upsurges
Amidst the market’s struggles, a few digital currencies have defied the odds, recording incredible gains. The standout performers include $HODL, which skyrocketed by an astonishing 2275.25%, reaching a price of $0.0007443. Hot on its heels, $MIST experienced a remarkable rise of 1456.89%, trading at $0.002173. Additionally, $FTW has demonstrated significant growth, boasting a price increase of 1317.49% and currently trading at $0.00000006280. These surging prices highlight the unpredictable nature of the crypto market, where opportunities can arise even during broader downturns.
DeFi TVL Slumps by 3.17% While NFT Sales Volume Records 17.50% Dip
The decentralized finance (DeFi) sector has not been immune to the market tumult, experiencing a 3.17% decline in total value locked (TVL), now amounting to $117.297 billion. AAVE continues to reign as the top DeFi project with a TVL of $24.834 billion, although even its prominence hasn’t shielded it from the broader market pressures. Furthermore, the non-fungible token (NFT) space is feeling the impact as well, with sales volume dropping by 17.50%, now standing at $15,865,258. Despite these downturns, the leading NFT collection, Courtyard, has bucked the trend, achieving a 46.45% increase in sales volume to reach $2,994,892.
Trump Slaps 50% Tariffs on EU as Tron Founder Buys $75M in $TRUMP
The ongoing downturn appears to be linked to geopolitical developments, particularly U.S. President Donald Trump’s recent announcement of a 50% tariff on goods imported from the European Union. This decision has raised considerable concern among investors, triggering sell-offs in various sectors. Adding to the intrigue, Justin Sun, founder of Tron, has recently made headlines by investing $75 million in $TRUMP tokens, which has sparked discussions and speculation across the crypto community. However, the aftermath of a controversial gala dinner tied to Trump has seen $TRUMP holders starting to offload their tokens, further exacerbating the market’s volatility.
