Crypto Market Experiences Slight Uptick Amid the Persistent Trade Tensions

The crypto market has witnessed a rebound following the recent sheer downturn. As per the exclusive market data, the total crypto market capitalization has reached $2.71Ts with a 0.2% increase over the recent 24 hours. Apart from that, the Fear & Greed Index has also risen to “43,” displaying a relatively neutral position.

Bitcoin Surges by 2.6% While Ethereum Records a 0.2% Rise

Bitcoin ($BTC), the top crypto asset, is now changing hands at $82.9K. This price level highlights a considerable 2.6% increase over the past twenty-four hours. Along with that, the top altcoin Ethereum ($ETH) has also recorded a 0.2% price surge to reach the $1.55K mark.

Epic Chain, Babylon, and RedStone Lead Crypto Gainers

Simultaneously, the top crypto gainers include Epic Chain, Babylon, and RedStone. Specifically, Epic Chain ($EPIC) has secured the 1st position among the projects trending on CoinGecko. Additionally, Babylon ($BABY) has seen a more than 63% upsurge, securing the top place among the gainers on Binance. In the case of CryptoRank, RedStone ($RED) is the top project. On the other hand, Beta Finance ($BETA) is the top loser project on Binance with a 26% decrease in its value.

DeFi Realm Witnesses 1.8% Surge

The DeFi market is also expressing a noteworthy development as its cumulative TVL has reached $121B. This amount reportedly shows a 1.8% increase over the twenty-four hours. The key projects in the DeFi sector include Soneium and Sonex. The former is atop the DeFi blockchains with a 35% TVL growth. Along with that, Sonex has seen 53% TVL growth.

NFT Landscape Shows 63% Volume Dip

On the other hand, the NFT market’s overall volume has seen a notable 63% slump in volume. Hence, its volume now stands at $3.7M. The top NFT collection in the case of volume is Guild of Guardians with a $1.1M mark. Furthermore, RUYUI is the prominent NFT collection when it comes to volume growth. Its total volume growth stands at 7,034%.

Overall, the crypto market is making a slight comeback irrespective of the persistent tensions between the U.S. and China concerning trade. The trade war beginning with the massive tariff implementation by the U.S. is currently escalating. Hence, the slight upsurge underscores a relatively cautious sentiment. Meanwhile, the crypto market onlookers are keeping a close eye on the indications of a potential growth continuation or a pullback. There is also a great expectation of heightened market volatility in the near term.