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The growing uncertainty is being seen in the crypto market triggered by macroeconomic shifts and geopolitical shifts. The new data suggests that the total crypto market capitalization has reached $3.25T after a 4.14% decrease. Contrarily, the 24-hour crypto volume accounts for $160.34B after an 18.65% rise. In the meantime, crypto Fear & Greed index stays neutral at 54 points.
Bitcoin ($BTC) has incurred a 2.94% loss in its price over past 24 hours, reaching $104,531.75. Additionally, the flagship crypto asset has a market dominance of nearly 63.9%. Similarly, Ethereum ($ETH) has witnessed an 8.82% dip as its price has reached the $2,515 mark. Apart from that, its market dominance stands at 9.3%.
Concurrently, the top crypto gainers include Bulla On Base ($BULLA), MAGA ($PEOPLE), and TRUMP MAGA ($MAGA) in the prominent positions. In this respect, $BULLA is at the peak among crypto gainers with an 887.33% rise at $0.0003692. Along with that, $PEOPLE has reported a 500.36% increase to touch $0.00006359. Following that, $MAGA has attained the $0.02491 in terms of price after a 481.41% spike.
The above-mentioned crypto decline has also been reflected by the decentralized finance (DeFi) sector. In this respect, the DeFi TVL accounts for $110.213B after a 6.70% decline. Additionally, the top DeFi project AAVE has also beheld a 7.09% dip to reach $24.535B in TVL. However, when it comes to the highest 1-day TVL change, HipPowSwap has seen a 15112344% increase to reach $330.24 in TVL.
On the other hand, the non-fungible token (NFT) sector presents a 6.43% in sales volume that has touched $19,346,186. Particularly, Guild of Guardians Heroes dominates NFT collections in sales volume with a 38.71% rise. Hence, its present sales volume equals $3,261,611.
Overall, the geopolitical tensions and the macroeconomic developments are driving this broader crypto decline. Specifically, the rift that started between Israel and Iran is a great contributor to this. Additionally, the collapse of the hopes concerning the U.S. Federal Reserve’s rate cuts has led to the exclusion of $1.15B from the crypto market. Moreover, if the war escalates between Israel and Iran, it could persuade crypto investors to quit high-risk cryptocurrencies and turn toward traditional assets.
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