The crypto market is going through a massively turbulent phase. As per the latest market statistics, the Fear & Greed Index has plunged to the 23 mark, with the majority of the well-known crypto projects reporting enormous price drops. Additionally, the total market cap of the crypto sector has dipped by 8.30% over the past 24 hours.
Crypto Market Witnesses Massive Decline as Bitcoin, Ethereum, and Top Altcoins Drop
The top crypto coin Bitcoin ($BTC) has witnessed a noteworthy price decrease of 7.52%. This dip has pushed its price to the $77,202 mark. Nonetheless, the market dominance of Bitcoin still shows a slight 0.99% increase at 59.40%. In addition to this, the top altcoin Ethereum ($ETH) accounts for a staggering 14.29% decline during the recent twenty-four hours. As a result of this, its present price is $1,551 whereas its dominance stands at 7.26% after a 6.30% dip.
Other than $BTC and $ETH, $SOL, $BNB, $XRP, and $DOGE also show a gloomy outlook. Particularly, $SOL and $BNB stand at $102.44 and $548.73, indicating 14.58% and 7.31% decreases. Along with that, $XRP and $DOGE have dropped by 15.74% and 15.00% to reach $1.80 and $0.142 marks respectively.
$RFC, $AERGO, and $LUCE Lead Crypto Market Gainers
Although the overall crypto market is experiencing a downturn, several small-cap crypto assets have gained considerable profits. In this respect, $RFC, $AERGO, $LUCE, $BUZZ, and $FORTH have topped the list. Specifically, $RFC displays a 63.4% rise while $AERGO and $LUCE signify 28.9% and 25.3% price upsurges respectively. Simultaneously, $BUZZ and $FORTH demonstration 22.01% and 21.4% price increases over twenty-four hours.
DeFi and NFT Sectors See Further Dip
Simultaneously, the DeFi and NFT markets also display bearish trends. In the case of the DeFi market, the total value locked (TVL) has recorded an 8.4% drop to reach $120B. However, despite this downturn, Zircuit topped the blockchains with an 8.9% rise. On the other hand, NFT market’s volume presents a 20% decrease at the current valuation of $3.8M. Even then, the popular NFT collection Art Blocks effectively attained a more than 540% growth in its volume.
Institutional and Macroeconomic Outlook
In line with the exclusive market data, the recent crypto funding rounds include P2P.me, Ultra, and Codex. They have successfully received $2.0M, $12M, and $15.8M respectively. Keeping this overall scenario in view, the macroeconomic developments, like the recent US tariff announcement, are influencing the market to a great extent. In the meantime, the investors are exercising caution while looking for a potential market shift.
