Crypto Market Records Sideways Movement Amid Neutral Sentiment

The global crypto ecosystem is witnessing steady development, as the latest 24-hour data suggests. In this respect, the cumulative crypto market capitalization has dipped by 1.8% to reach $4.13T. However, the 24-hour crypto volume has jumped by 9.85%, reaching the $208.14B mark. Concurrently, the Crypto Fear & Greed Index has touched 54 points, indicating a “Neutral” position.

Bitcoin Slips by 0.61% and Ethereum Sees 2.28% Drop

Bitcoin ($BTC) is changing hands at $121,200.02. This denotes a 0.61% drop over 24 hours, while the leading crypto asset’s market dominance accounts for 58.5%. In addition to this, Ethereum ($ETH) is trading at $4,339.91. This displays a 2.28% dip, and its market dominance stands at 58.5%.

 Additionally, BNB ($BNB) has slumped by 0.88% to reach the price level of $1,265.06. Keeping this in view, several market participants consider this drop to be an open opportunity to cash in. Thus, this dip can be converted into a yield-bearing moment before a potential upsurge.

$TURBO, $CAT, and $MAGA Lead Crypto Gainers

Apart from that, TURBO BOME ($TURBO), NOT ($CAT), and TRUMP MAGA ($MAGA) are the leading among the top crypto gainers of the day. Specifically, $TURBO has jumped by a staggering 1682.98% to reach $0.000004178. Subsequently, CAT’s price, $0.0004460, presents a 587.39% increase. Following that, $MAGA displays a 391.48% rise while trading at $20.74.

DeFi TVL Slumps by 2.59% While NFT Sales Volume Surges by 4.21%

Simultaneously, the DeFi TVL has plunged by 2.59% to reach $166.476B. Additionally, the top DeFi project in terms of TVL, Aave, has seen a 3.60% slump to touch $43.229B. On the other hand, when it comes to 1-day TVL change, Arcadia Finance dominates the DeFi sector with a stunning 31879% spike over twenty-four hours.

Additionally, the NFT sales volume has jumped by 4.21% to attain the $23,776.190 mark. In the same vein, the top-selling NFT collection, Pharaoh V3 Non Fungible Position, has recorded a 113.75% increase to claim the $2,964,164 mark. This overall outlook offers a merger of the positive as well as pessimistic developments.

Bitcoin Reserve Bill Stalls as Coinbase, Mastercard Eye $2B Hong Kong IPO

Moving on, the crypto industry has also experienced many other developments over 24 hours. In this respect, the Bitcoin reserve bill of Massachusetts has received no questions at all during the latest hearing, raising concerns over legislative engagement irrespective of the bipartisan dialogue that Senator Peter Durant led. Moreover, HashKey is planning an IPO for Hong Kong this year. Furthermore, Coinbase and Mastercard are eyeing a $2B buyout of the stablecoin platform BVNK.