Crypto Market Turns Red Amid Persistent Bearish Momentum

On Friday, the continued bearish momentum has pushed the crypto industry significantly downward. Hence, the crypto market capitalization has dipped by 1.22% to hit $3.13T. In addition to this, the 24-hour crypto volume has also seen a 17.08% drop, reaching $127.2B.

Concurrently, the Crypto Fear & Greed Index indicates “Fear” among crypto bros at 25 points, and serves as a warner for a further downturn amid the uncertain ontology of the market.

Bitcoin Drops by 2.61% and Ethereum Witnesses 4.25% Dip

Particularly, the leading crypto asset, Bitcoin ($BTC), has witnessed a 2.61% dip over the past 24 hours. As a result, its current price accounts for $89,683.02 while the market dominance stands at 58.7%.

Additionally, the top altcoin, Ethereum ($ETH), accounts for a 4.25% decrease in price while hovering around $3,036.49. In the meantime, its market dominance stands at 12.2%.

$BOME, $DOGS, and $BEER Lead Daily Crypto Gainers

Apart from that, Book of Meme 3.0 ($BOME), HARRIS DOGS ($DOGS), and Beers ($BEER) dominate the crypto gainers of the day. Specifically, $BOME has seen a staggering 689.83% rise, hitting $0.004332.

Subsequently, $DOGS shows a 495.68% increase while trading at $0.004332. Following that, $BEER’s current price is $0.002699, highlighting a 467.14% surge.

DeFi TVL Records 1.06% Plunge and NFT Sales Volume Experiences 9.18% Decrease

On the other hand, the DeFi TVL has dropped by 1.06%, claiming the $120.742B mark. However, the top DeFi project, Aave, has witnessed a slight 0.94% increase, to reach the $33.45B spot.

Additionally, in the case of 1-day TVL change, JioSwap is the top DeFi project, accounting for a stunning 3758% spike over twenty-four hours.

Contrarily, the NFT sales volume has plunged by 9.18%, attaining the $9,446,680 mark. Nevertheless, the top-selling NFT collection, Panini America, has jumped by a huge 1826.59%, hitting $1,833,040.

Circle Adds 2B into $USDC Supply, Upbit Undergoes Massive Revenue and Trading Surge After $36M Exploit

Moving on, the crypto market has also gone through several other key developments over 24 hours. In this respect, Circle has expanded its supply of $USDC by 2B amid heightened demand.

Moreover, Upbit, a popular crypto exchange in South Korea, is experiencing a sheer rise in revenue and trading activity after a shocking $36M hack. Furthermore, according to Stani Kulechov, the founder of Aave, the low-profile tax shift of the U.K. is clearing the path for broader DeFi adoption.