Crypto Market Stabilizes After Surge as Investor Greed Grows
Bitcoin Hits New All-Time High as Crypto Market Surges
Bitcoin and Ethereum Experience Minor Declines
In a remarkable turn of events, Bitcoin ($BTC) has soared to a new all-time high, surpassing $118,000, instilling a sense of optimism among investors. The total cryptocurrency market capitalization has climbed to $3.67 trillion, reflecting a modest increase of 0.76%. However, trading volume over the past 24 hours has seen a slight decrease of 2.42%, settling at $202.3 billion. Meanwhile, the crypto Fear & Greed index has shifted into the “greed” territory, now sitting at 69 points.
Currently, Bitcoin is priced at $117,693.02, marking a slight decline of 0.11% in the last day after reaching a peak of $118,856.47. Its market dominance remains strong at 63.8%. In parallel, Ethereum ($ETH) has also faced a downturn, dropping by 1.67% to $2,954.04, with a market dominance of 9.7%.
Top Gainers in the Crypto Space
In the realm of cryptocurrency gainers, Black Agnus ($FTW), BOME GROK ($GROK), and Mubarak Trump ($TRUMP) are leading the pack. $FTW has skyrocketed by an astonishing 18,711.12%, currently trading at $0.00000009357. Following closely, $GROK has surged to $0.0002158, reflecting a 2,314.36% increase. Meanwhile, $TRUMP has also enjoyed a significant rise of 2,294.77%, trading at $0.00004468.
DeFi and NFT Market Updates
The total value locked (TVL) in DeFi has seen a 0.79% increase, reaching $126.667 billion. However, AAVE, the leading DeFi project by TVL, has experienced a slight dip of 0.58%, now valued at $28.78 billion. Notably, DegenSwap has made headlines with a staggering 183,896% increase in TVL over the past 24 hours.
Conversely, the NFT sales volume has dropped by 15.14%, now totaling $22,975,338. Despite this decline, the Pudgy Penguins collection has achieved remarkable success, with sales soaring by 560.94% to reach $2,116,157.
Advocacy for Regulatory Clarity in the Crypto Sector
In broader industry news, several influential crypto organizations, including the Crypto Council, The Digital Chamber, and the Blockchain Association, are advocating for the swift passage of the CLARITY Act by U.S. lawmakers. Additionally, William J. Pulte, Chairman of the Board of Fannie Mae and Freddie Mac, has commented on unverified reports regarding a potential resignation plan for Federal Reserve Chairman Jerome Powell. Grayscale has also highlighted significant losses for investors due to the U.S. SEC’s unexpected suspension of ETFs that include assets like $BTC, $ETH, $XRP, $SOL, and $ADA.
About the Author
Shahzaib Ahmed is a seasoned crypto journalist with extensive experience in delivering detailed analyses and updates on blockchain technology and decentralized finance. With a sharp focus on current trends and market dynamics, Shahzaib aims to educate readers while providing expert insights into the evolving landscape of digital assets and DeFi protocols.
