Crypto Market Shows Sideways Momentum as Investors Face Fear

The worldwide crypto market is witnessing slight selling pressure amid the sideways momentum. Thus, the crypto market capitalization has dropped by 8.89%, reaching the $3.55T mark. However, the 24-hour crypto volume accounts for $176.49% after a 9.34% rise. At the same time, the Crypto Fear & Greed Index is still in the “Fear” zone while hovering around 31 points.

Bitcoin Sees 0.89% Dip and Ethereum Slips by 1.39%

Particularly, the leading crypto asset, Bitcoin ($BTC), is currently trading at $105,439.04. This denotes a 0.89% dip over the past 24 hours, while Bitcoin’s market dominance is up to 59.2%. In addition to this, the flagship altcoin, Ethereum ($ETH), is trading at $3,567.71.  The respective price level shows a 1.39% decrease. In the meantime, Ethereum’s market dominance stands at 12.1%.

$GME, $BEER, and $FLAME Dominate Daily Crypto Gainers

Simultaneously, GameStop Coin ($GME), Beers ($BEER), and FireStarter ($FLAME) are leading the top crypto gainers of the day. Specifically, $GME has surged by 528.57% to reach its latest price of $0.00004066. Following that, $BEER’s 524.70% increase has placed its price at $0.0003992. Subsequently, $FLAME is trading at $0.03169 after a 465.94%.

DeFi TVL Jumps by 0.59% and NFT Sales Volume Records 1.23% Rise

Apart from that, the DeFi TVL has recorded a 0.59% spike, claiming the $137.022B. Additionally, the top DeFi project when it comes to TVL, Aave, has surged by 2.07%, touching $33.831B. Nonetheless, in terms of 1-day TVL change, Stablecomp leads the DeFi market, attaining the stunning 819543328% increase over twenty-four hours.

Additionally, the NFT market has also jumped by 1.23%, reaching $10,055,791. Contrarily, the top-selling NFT collection, DMarket, has plunged by 10.53%, hitting $857,535.

Brazil Adds Crypto to Finance Rules, U.S. Senators Push CFTC Oversight on Spot Trading

Moving on, the crypto landscape has also experienced many key developments across the world. In this respect, Brazil is expanding its regulations for financial sector to include local crypto platforms and minimize illicit activities. Moreover, Propanc Biopharma has secured $100M to develop a crypto treasury.

Furthermore, the U.S. Senate’s Agriculture Chair John Boozman, along with Senator Cory Booker, has presented a discussion draft that provides the CFTC with the authority over spot cryptocurrency markets for market regulation.