Crypto Market Sees Positive Surge in Cap and 24-Hour Trading Volume
Crypto Market Shows Positive Momentum with Significant Gains
The global cryptocurrency market is experiencing a notable surge, reflecting a strong positive sentiment among investors. Recent data indicates a 0.92% increase in the overall market capitalization, which has now reached $3.36 trillion within the last 24 hours.
In parallel, the trading volume for cryptocurrencies has risen sharply to $89.05 billion, marking a substantial 39.58% increase. The Crypto Fear & Greed Index remains stable at a neutral score of 52, suggesting a balanced market outlook.
Bitcoin and Ethereum Experience Notable Price Increases
Bitcoin ($BTC), the leading cryptocurrency, has seen its price rise by 0.55%, now valued at $108,583.59. Its market dominance has also climbed to 64.4%. Meanwhile, Ethereum ($ETH) has recorded a more impressive 2.30% increase, reaching a price of $2,602.60, with its market share now at 9.2%.
Top Gainers: $MICHI, $SWOL, and $TURBO
In the realm of top-performing cryptocurrencies, Michi ($MICHI), Snowy Owl ($SWOL), and TURBO BOME ($TURBO) have emerged as standout gainers over the past day. Notably, $MICHI has skyrocketed by an astonishing 2170.45%, bringing its price to $0.02239. Following closely, $SWOL has surged by 1986.62%, now priced at $0.0001530, while $TURBO has experienced a remarkable 2532.70% increase, currently valued at $0.00001528.
DeFi Market Sees Growth in Total Value Locked and NFT Sales Surge
The decentralized finance (DeFi) sector has also shown positive trends, with a 1.28% rise in total value locked (TVL), which now stands at $116.786 billion. AAVE, the leading DeFi platform by TVL, has seen a 2.15% increase, raising its TVL to $26.423 billion. Interestingly, Brise Swap has reported an extraordinary 13,505,562,489,248,598,016% increase in TVL over the past 24 hours.
Additionally, the non-fungible token (NFT) market has witnessed a significant uptick, with sales volume reaching $17,781,510 after a 24.76% rise. Courtyard, the top-selling NFT collection, has also seen a 3.45% increase in its sales volume.
Legal Developments: Sentencing in Fraud Case and Coinbase’s New License
The crypto landscape has been marked by significant legal developments as well. A court in the UK has sentenced two individuals to prison for orchestrating a fraudulent crypto investment scheme that defrauded 65 victims, resulting in losses of £1.54 million (approximately $2.1 million).
In other news, South Korean authorities are considering benefits for startup crypto companies through regulatory reclassification. Furthermore, Coinbase has successfully obtained a trading license in New York and has added four new tokens to its platform, enhancing its trading offerings.
About the Author
Shahzaib Ahmed is a seasoned crypto journalist with extensive experience in analyzing and reporting on blockchain technology and decentralized finance. With a sharp focus on detail, Shahzaib provides insightful articles that delve into the latest trends, market dynamics, and innovations within the crypto space. His work aims to educate readers while offering expert commentary on the evolving landscape of digital assets and DeFi protocols.
