Crypto Market Witnesses Minor Pullback as Key Crypto Assets Show Slight Downturn

The global crypto sector has seen a slight bearish trend. The latest market data disclose that the cumulative crypto market capitalization has slumped by 0.90% to reach $2.94T while the 24-hour trading volume stands at $67.88B with a notable 34.48% plunge. Nonetheless, the Fear & Greed Index maintains its neutral position at 53.

Bitcoin and Ethereum Record 0.14% and 0.13% Price Drops

Bitcoin ($BTC), the top crypto asset, also reflects the bearish market momentum with a 0.14% price drop. Its current price is $93,995,89 while its market dominance is 63.5%. Similarly, Ethereum ($ETH) indicates a 0.13% decline at $1,797.82. In addition to this, its market dominance is nearly 7.4%.

$KEN, $BPX, and $LESTER Lead Crypto Gainers

The top crypto gainers based on the 24-hour data take into account Ken ($KEN), Black Phoenix ($BPX), and LESTER by Virtuals ($LESTER). $KEN has seen a stunning 1423.34% price rise with its current price accounting for $0.0003973. $BPX is currently changing hands at $0.1705 after a 677.59% increase. Simultaneously, $LESTER enjoys a 604.75% increase at $0.0002460.

DeFi TVL Surges by 2.48% While NFT Market Displays a 10.36% Increase

Additionally, the DeFi world shows a 2.48% spike in its TVL which has touched $100.607B. In terms of TVL, AAVE is the top DeFi project, accounting for $19.75B. However, when it comes to TVL growth, Defily Dex is atop the DeFi projects with a 25411% increase.

Analogously, the NFT market accounts for a 10.36% increase in sales volume that has touched $13,215,481. DMarket maintains its top position among the NFT collections based on sales volume at $1,411,411 with a 1.33% upsurge.

BlackRock Buys More $ETH as SEC Proposes Clearer Crypto Custody Rules

Overall, despite the short-term dip, the crypto sector displays a robust momentum with many notable developments taking place around the globe. Particularly, BlackRock has obtained $54M in $ETH amid the growing ETF inflows and institutional demand.

The U.S. SEC is pushing for simplified and clearer regulations for crypto custody. Moreover, speculations are rising for China’s potential shift from the United States Treasuries to Bitcoin and gold. These developments seem quite supportive of further crypto growth and could lead to the next market rally.