Crypto Market Drops While Struggling to Recover Amid Prevailing Fear

The global crypto sector has seen another mild dip. Thus, the cumulative market capitalization is standing at $2.99T after a 0.98% decrease. In addition to this, the 24-hour crypto volume has witnessed a 2.67% drop, reaching $111.32B. At the same time, the Crypto Fear & Greed Index accounts for 37 points, indicating “Fear” among the community participants.

Bitcoin ($BTC) Plunges by 0.87% and Ethereum ($ETH) Undergoes 1.68% Dip

Particularly, the top crypto asset, Bitcoin ($BTC), is currently trading at $88,112.31. This signifies a 0.87% decrease in price while $BTC’s market dominance is 59.0%. Additionally, the leading altcoin, Ethereum ($ETH), is now changing hands at $2,948.19 while displaying a 1.68% plunge. In the meantime, its market dominance sits at 11.9%.

$PF, $FELIS, and $PUPPIES Dominate Today’s Top Crypto Gainers

Concurrently, Purple Frog ($PF), Felis ($FELIS), and I love puppies ($PUPPIES) have gained top positions among today’s key crypto gainers. Specifically, $PF has jumped by a staggering 4425.75% to reach $0.0009145. Following that, $FELIS is now hovering around $0.0000007626 after a 1778.45% increase. Subsequently, a 1383.27% has placed $PUPPIES’ price at 0.0000000004529.

DeFi TVL Sees 0.82% Slump and NFT Sales Volume Records 53.52% Decrease

Apart from that, the DeFi TVL has slumped by 0.82%, attaining the $120.548B figure. Additionally, the top DeFi project in the case of TVL, Aave, has gone through a 0.50% decrease, touching $34.528B. Nonetheless, when it comes to 1-day TVL change, Accumulator is the leading player in the DeFi sector, accounting for a stunning 31671% increase over the past twenty-four hours.

Contrarily, the NFT sales volume has dropped by 53.52% to touch $9,461,066. Similarly, the top-selling NFT collection, Flying Tulip PUT, is 77.89% down at $2,619,537.

Cere Network Lawsuit Looms as Strive Reduces Debt and Buys Bitcoin

Moving on, the crypto industry has also gone through many other impactful developments across the globe over 24 hours. In this respect, Fred Jin, the co-founder of Cere Network, is facing a $100M lawsuit over the accusation of crypto pump-and-dump scheme.

Moreover, Strive is retiring ninety-two percent of its acquired debt while also buying extra 334 $BTC. Furthermore, Australian authorities have imposed a $14M on BPS Financial, the operator of the Qoin Wallet, following the detection of unlicensed activity.