The crypto sector is witnessing a rise in greed despite a relatively bearish sentiment at the end of this week. As per CryptoRank.io, the worldwide crypto market capitalization has dipped to the $3.76T mark, however, the Fear & Greed Index stays in the “Greed” phase at 75. This indicates a continued confidence among the crypto investors.
Additionally, while the large-cap crypto tokens are struggling to maintain their position in the market, the small-cap crypto tokens have made massive gains. Overall, the promising developments and surging greed index grasp the attention of the community irrespective of the bearish trend.
Crypto Realm Sees Extreme Greed at 75 Despite Overall Market Cap Dip
CryptoRank.io revealed that cumulative crypto market capitalization has dipped to $3.76T, showing a 1.10% plunge throughout the recent twenty-four hours. On the other hand, the Fear & Greed Index stands at 75, denoting significant “Greed.” This points out that the crypto investors are expressing continued optimism. Particularly, Bitcoin ($BTC) possesses a dominant market share of 55.01%, with its price reaching $104,439.
Large-Cap Crypto Tokens Struggle to Maintain Their Positions
In addition to this, Ethereum ($ETH) has dipped by 2.63% to touch $3,299 while endeavoring to maintain the position thereof. Simultaneously, the other crypto assets with large capitalizations are also struggling to maintain their positions amid the sheer declines. In this respect, Solana ($SOL) has seen a 4.69% dip to reach $248.
Apart from that, Dogecoin ($DOGE) and Ripple ($XRP) went through 2.51% and 1.94% losses respectively. Moreover, $TRUMP has declined to $27.71 after a 19.7% slump. Moving on, the other large-cap losers include $XCN (-21.2%), $AMP (-14.9%), $FARTCOIN (-16.1%), and GIGA (-16.9%).
Small-Cap Crypto Tokens Record Staggering Gains
Contrarily, small-cap tokens made remarkable progress with huge gains. In this respect, $JUNO’s price surged by 111%, raising market capitalization to $24.5M. Along with that, $ADP saw 89.8% jump to touch $14.9M in market capitalization. $REGENT also accounted for a 83.1% increase, placing its market cap at $26.8M. In addition to this, $STARS and $MXC also rose by 60.5% and 55.5%, accounting for $15.1M and $10.8M in market capitalization respectively.
Promising Advancements and Effective Funding Rounds Boost Market Momentum
According to CryptoRank.io, irrespective of the wider downturn in the crypto market, promising developments are taking place. The latest funding rounds take into account SignalPlus ($11M), Ranger ($1.9M), and MinionLab ($2M). Furthermore, Nillion Network has partnered with AI-centered DAO while Grayscale has filed an application to launch a Litecoin ETF. Keeping this in view, the crypto industry is seeing an expansion in institutional interest.
