Crypto Market Dives in Deep Fear as Major Assets Decline

The crypto sector is navigating a sheer downtrend with key crypto assets witnessing notable price slumps. Hence, the cumulative crypto market capitalization has dropped by 1.92% to reach $2.58T. However, the 24-hour crypto volume has seen a 7.86% rise, touching $168.02B. At the same time, the Crypto Fear & Greed Index stands at 14 points, indicating “Extreme Fear” among the market participants.

Bitcoin Drops by 2.55% and Ethereum Sees 2.40% Slump

Specifically, the top crypto asset, Bitcoin ($BTC), is changing hands at $76,373.44. This suggests a 2.55% dip over the past 24 hours, while $BTC’s market dominance accounts for 59.0%. In addition to this, the leading altcoin, Ethereum ($ETH), is trading at $2,270.94, presenting a 2.40% drop. In the meantime, its market dominance accounts for 10.6.

$PF, $PENGU, and $HBTC Dominate Crypto Gainers of Day

Apart from that, the list of today’s key crypto gainers takes into account Purple Frog ($PF), PENGU AI ($PENGU), and Hold BTC ($HBTC). Particularly, $PF has surged by 1438.76%, hitting the $00006943 mark. Subsequently, $PENGU has surged by 14488.73% to reach the price level of up to $0.0005162. Following that, $HBTC is hovering around $0.000005040, showing a 725.18% price increase.

DeFi TVL Plunges by 0.75% While NFT Sales Volume Spikes by 32.97%

Simultaneously, the DeFi TVL has plunged by 0.75%, claiming the $104.402B spot. Nonetheless, the top DeFi project in the case of TVL, Aave, has climbed by 0.70% to hit $30.008B. On the other hand, when it comes to 1-day TVL change, TaraPerps sits in the top position in the DeFi landscape, attaining a stunning 128079% increase over the past twenty-four hours.

Similarly, the NFT sales volume has surged by 32.97% to reach the $8,624,828 figure. Additionally, the top-selling NFT collection, Flying Tulip PUT, is 114.49% up at $2,272,502.

Coinbase Hits with Lawsuit Over Sports Bets, Crypto.com Launches ‘OG’ Prediction Market

Moving on, the crypto industry has also witnessed many developments throughout the past 24 hours. In this respect, Coinbase is facing a lawsuit filed by the Nevada Gaming Control Board over illegitimate sports wagers.

Moreover, Crypto.com is unveiling an independent prediction market project, “OG.” Furthermore, the Federal Reserve Governor Stephen Miran has left his role as the Chairman of the White House Council of Economic Advisers (CEA) to deal with his responsibilities at the Federal Reserve Board of Governors.