Crypto Market Thrives as Greed-Driven Sentiment Fuels Steady Growth
Crypto Market Sees Positive Momentum Amid Notable Developments
The cryptocurrency market is experiencing a steady rise as of Friday, with the total market capitalization climbing to $3.89 trillion, reflecting a 2% increase. Additionally, the 24-hour trading volume has surged by 9.66%, reaching approximately $236.67 billion. The current sentiment in the market is characterized by significant “Greed,” as indicated by the Fear & Greed index, which stands at 71 points.
Bitcoin Experiences Minor Dip While Ethereum Holds Steady
Bitcoin ($BTC) is currently facing a tug-of-war between bullish and bearish forces, trading at $118,294.79. Over the past 24 hours, the leading cryptocurrency has seen considerable volatility, resulting in a 1.53% decrease in its price. Bitcoin maintains a market dominance of 60.9%.
On the other hand, Ethereum ($ETH) is priced at $3,593.80, reflecting a slight decline of 0.02% as investor activity remains subdued. Despite this, Ethereum’s market share has increased to 11.2%. Meanwhile, Ripple ($XRP) is approaching its previous all-time high, having reached $3.6502 yesterday and currently fluctuating around $3.50.
Top Gainers of the Day: $VALENTINE, $TRUMP, and $LINA
In the realm of crypto gainers, Valentine ($VALENTINE), Mubarak Trump ($TRMP), and Linear Finance ($LINA) are leading the charge. Notably, $VALENTINE has surged to $0.002637, marking an impressive increase of 442.42%.
Following closely, $TRUMP has experienced a remarkable rise of 401.03%, now trading at $0.0003502. Additionally, $LINA has seen a substantial increase of 376.94%, currently priced at $0.00003378.
DeFi and NFT Markets Show Positive Trends
The Total Value Locked (TVL) in DeFi has also seen a 0.99% increase, reaching $136.445 billion over the last 24 hours. However, Lido, the leading DeFi project by TVL, has experienced a decline of 1.71%, with its TVL now at $32.245 billion. In terms of daily TVL growth, Defily Dex stands out with an astonishing increase of 191,639%.
Moreover, the NFT sales volume has jumped by 15.69%, reaching $24,238,420. The top-selling NFT collection, “f(x) wstETH position,” has seen a remarkable increase of 309.68%, now valued at $1,934,613.
Regulatory Developments: Trump Signs GENIUS Act and 21Shares Files for ETFs
In significant regulatory news, former U.S. President Donald Trump has officially signed the GENIUS Act, aimed at establishing a framework for the stablecoin market.
Additionally, 21Shares has filed with the SEC to launch two crypto index exchange-traded funds (ETFs). In a separate incident, a crypto trader faced a loss of 31.22 $ETH, equivalent to $112,745, due to a glitch in their wallet related to gas fees.
This article aims to provide a comprehensive overview of the current trends and developments within the cryptocurrency landscape, ensuring readers are well-informed about market movements and regulatory changes.
