Crypto Market Experiences Slight Dip Amid Bearish Momentum

The worldwide crypto sector is currently going through a minor decline as the latest market statistics reveal. In this respect, the total crypto market capitalization has dropped by 0.29% to reach the $3.25T mark. Additionally, the 24-hour crypto volume is currently standing at $111.03B, showing an 8.39% dip. Along with that, the crypto Fear & Greed index stands neutral at 48 points.

Bitcoin and Ethereum Record 2.64% and 7.74% Price Dips

Particularly, Bitcoin ($BTC) is now trading at $104,740.64, denoting a 2.64% decrease in price. In addition to this, its market dominance accounts for 64.0%. Simultaneously, Ethereum ($ETH) presents a 7.74% dip at $2,522.35. At the same time, the market dominance of the flagship altcoin is 9.4% at the moment.

$SWOL, $DOGO, and $SIMPSON Lead Crypto Gainers of Day

When it comes to the daily crypto gainers, Snowy Owl ($SWOL), DOGO ($DOGO), and Homer ($SIMPSON) are the top names. Specifically, $SWOL has surged by 4700.11% to reach $0.00024000. Subsequently, $DOGO has reached $0.000001584 after a 771.93% rise. Following that, $SIMPSON’s 577.22% increase has pushed its price to $0.0000000000009192.

DeFi TVL Jumps by 0.39% While NFT Sales Volume Drops by 7.23%

Apart from that, the decentralized finance (DeFi) market has witnessed a slight 0.39% upsurge that has raised its TVL to $112.89B. Particularly, AAVE claims the top spot among DeFi projects as its TVL has touched $25.504B. Nonetheless, in terms of 24-hour TVL change Kopi DEX is the top DeFi project with a 4154624% TVL increase over one day.

Contrary to the DeFi world, the non-fungible token (NFT) sector has seen a 7.23% decline in overall sales volume that has dipped to $18,244,162. In this respect, Guild of Guardians Heroes indicates a 2.78% decrease as its sales account for $2,255,358.

Chinese Central Bank Unveils International Center to Oversee Digital Yuan and Elon Musk Finalizes $5B Debt Deal

Parallel to these statistics concerning the crypto market, several crucial developments concerning crypto are also taking place around the world. Hence, the central bank of China is planning to establish an international center for its digital yuan in the country’s capital Shanghai.

On the other hand, the central bank of South Korea has cautioned that won-pegged stablecoins might raise demand for the stablecoins backed by the U.S. dollar. Moreover, Elon Musk’s xAI is raising $5B via a complicated debt offering that Morgan Stanley has led.