Crypto Market Drops Amid Extreme Fear As Key Crypto Assets Show Notable Losses

Today, the crypto sector has seen a decline. Hence, the crypto market capitalization has dropped by 1.11% to hit $2.3T In addition to this, the 24-hour crypto volume is 5.92% down at $81.23B. At the same time, the Crypto Fear & Greed Index is also standing at just 11 points, indicating “Extreme Fear” among the market participants, while some long-term traders are attempting to cash the market dip.

Bitcoin ($BTC) Records 1.08% Dip and Ethereum ($ETH) Drops by 1.20%

Specifically, the top crypto asset, Bitcoin ($BTC), has witnessed a 1.08%. This dip has placed $BTC’s price at $66,902.46 while its market dominance sits at 58.1%. Additionally, the leading altcoin, Ethereum ($ETH), is currently trading at $1,974.90 after a 1.20% decrease. In the meantime, $ETH’s market dominance is 10.3%.

$HBTC, $TSLA, and $PEPE Dominate Crypto Gainers

Apart from that, the list of prominent crypto gainers takes into account Hold BTC ($HBTC), Tesla ($TSLA), and PEPE AI ($PEPE). Particularly, HBTC’s price has jumped by a staggering 1359.64% to reach $0.0000009937. Following that, a 1282.00% rise has placed $TSLA’s price at $11.60. Subsequently, $PEPE is now hovering around $00.0005517 after a 1113.07% increase.

DeFi TVL Slumps by 0.79% While NFT Sales Volume Surges by 63.90%

Simultaneously, the DeFi TVL has dropped by 0.79%, attaining the $95.296B mark. However, the top DeFi project in terms of TVL, Aave, has seen a slight 0.06% surge, reaching $26.981B. On the other hand, when it comes to a 1-day TVL change, Supernova is the leading DeFi project, accounting for a 1383% rise over the past twenty-four hours.

In the same vein, the NFT sales volume has spiked by 63.90%, touching the $16,917,412 spot. Similarly, the top-selling NFT collection, Flying Tulip PUT, displays a 116.97% jump at $11,950,217.

Coinbase and Ledn Drive Crypto Lending, Brevan Howard Capital Management Announces $40B $BTC Asset Sale

Moving on, while the crypto market has been witnessing a bumpy ride, several key developments have occurred over 24 hours. One of these new developments is partnership between Coinbase and Ledn for supporting crypto lending with the issuance of $188M in securitized bonds backed by $BTC. Moreover, Brevan Howard Capital Management has announced official $40B sale of $BTC assets.

Furthermore, the CFTC Chair, Michael Selig, has disclosed that the Digital Asset Market Clarity Act is nearing its conclusion. However, whether the crypto sectors shifts toward a steady recovery remains to be seen in the near term.