Crypto Bear Market Continues Amid Struggle with Extreme Fear Sentiment

The crypto downturn has further deepened over the past 24 hours. Hence, the cumulative crypto market capitalization has hit the $2.09T mark, displaying a 3.63% decrease. However, the 24-hour crypto volume has undergone a 39.20% rise, hitting $169.76B. At the same time, the Crypto Fear & Greed Index is currently standing at just 13 points, displaying “Extreme Fear” across the market.

Bitcoin ($BTC) Surges by 1.54% and Ethereum ($ETH) Witnesses 1.84% Rise

The top cryptocurrency, Bitcoin ($BTC), is currently trading at $61,645.60. This price level indicates a 1.54% increase, while the market dominance of Bitcoin ($BTC) accounts for 58.4%. In addition to this, the flagship altcoin, Ethereum ($ETH), is now changing hands at $1,593.68, expressing a 1.84% increase. In the meantime, Ethereum’s ($ETH) market dominance sits at 9.0%.

$BPX, $TSLA, and $BASE Lead Top Crypto Gainers of Day

Apart from that, the leading crypto gainers of the day include Black Phoenix ($BPX), Tesla ($TSLA), and Base AI ($BASE). Particularly, $BPX has surged by a staggering 1350.97%, reaching $0.06200. Following that, a 458.93% increase has placed the price of $TSLA at $24.25. Subsequently, $BASE is hovering around $0.0003256 after a 306.76% jump.

DeFi TVL Surges by 0.55%, While NFT Sales Volume Slumps by 16.5%

Simultaneously, the DeFi TVL has witnessed a 0.55% increase, attaining the $70.276B mark. Additionally, the top DeFi project in terms of TVL, Lido, has seen a 1.12% spike, claiming the $14.132B spot. Nonetheless, when it comes to 1-day TVL change, WoofSwap has gone through a stunning 1166% surge.

 On the other hand, the 24-hour NFT trading volume has dropped by 28.0%, touching $1,898,932. Even then, the top-selling NFT collection, Bored Ape Yacht Club, is up 16.5% at $510,450.

Grayscale Applies for New Canton ETF, Robinhood Partners with WonderFi to Drive Crypto Strategy

Moving on, the crypto market has also recorded many other key developments across the globe over the past 24 hours. In this respect, Grayscale has submitted a filing for its exclusive Canton ETF. Moreover, Robinhood is expanding its regulated crypto strategy with a new deal with WonderFi. Furthermore, Big Tech is anticipated to spend more than $700B on AI initiatives this year alone.