Crypto Market Witnesses Bullish Trajectory with Bitcoin Setting New ATH Near $112K

A dramatic shift has recently been witnessed in the crypto market with a notable market-wide rally. In this respect, the crypto market capitalization has seen a 0.67% increase to reach $3.52T. In addition to this, the Fear & Greed index shows extreme “greed” at 76 points while the 24-hour crypto volume has dipped by 18.90% to reach $157.08B.

Bitcoin ($BTC) Dips by 0.56%, But Ethereum ($ETH) Records 2.37% Jump

Bitcoin ($BTC) has recently achieved the new ATH at $111,970, however, its current price indicates a 0.56% decrease at $110,772. Additionally, the market dominance of the flagship crypto has touched 62.6%. Contrarily, Ethereum ($ETH) is now changing hands at $2,690.42, denoting a 2.37% increase. Along with that, Ethereum’s market dominance currently accounts for 9.3%.

$TRUMP, $FMB, and $LOVELY Lead Daily Crypto Gainers

The daily top crypto gainers include BOME TRUMP ($TRUMP), Flappymoonbird ($FMB), and Lovely Finance ($LOVELY). In this respect, $TRUMP has gained a 645.10% rise to reach $0.1560 while $FMG has experienced a 559.48% increase, touching $0.02844 in terms of price. Apart from that, $LOVELY presents a 481.42% price upsurge at $0.000001905.

DeFi TVL and NFT Sales Volume See 2.81% and 12.27% Increases Respectively

Simultaneously, with a 2.81% increase over 24 hours, the cumulative TVL of the DeFi sector has reached $122.161B. Specifically, AAVE stays atop the DeFi projects with its TVL accounting for $25.941B. Nevertheless, after seeing a 2965241% TVL increase, Clutch Markets is at the peak in terms of 1-day change.

The NFT landscape has also jumped by 12.27% in its sales volume which has touched $17,951,790. In this respect, DNS is the top NFT collection, comprising $2,641,105 in sales volume after a 900.58% surge.

Texas Nears Establishing Bitcoin Reserve While Notable U.S. Banks Plan Creation of Stablecoin Venture

Impacted by this wide-ranging rally, the crypto ecosystem is seeing many notable advancements. Particularly, Texas Governor Greg Abbott has supported Strategic Bitcoin Reserve bill, signifying a move closer to developing a Bitcoin reserve.

Moreover, SEC has acknowledged filing submitted by Canary Capital for a staked $TRX ETF. Furthermore, the top U.S. banks including Wells Fargo, Citigroup, Bank of
America and JPMorgan Chase are planning a mutual stablecoin venture to meet growing demand.