The crypto market is currently going through a major recovery spree with huge gains witnessed by the key crypto assets like Bitcoin ($BTC) and Ethereum ($ETH). The total crypto market cap has touched $3.34T after a 2.17% surge, while the 24-hour trading volume is $142.23B. In addition to this, the crypto Fear & Greed Index shows considerable “greed” at 75 points.
Bitcoin Rises 0.35% While Ethereum Records 8.97% Increase
Bitcoin ($BTC) has recently touched the high price level near $105K while its current price is $103,888.57, indicating a 0.35% rise. Additionally, its current market dominance is 61.8%. Similarly, Ethereum ($ETH) is now changing hands at $2,559.38, indicating an 8.97% price increase. Hence, Ethereum’s market dominance stands at 9.2%.
$BPX, $BOME, and $MAGA Lead Top Crypto Gainers of Day
The prominent crypto gainers of the day include Black Phoenix ($BPX), Book of Meme 3.0 ($BOME), and PEPE MAGA ($MAGA). $BPX has gained a staggering 1593.90% price spike while its current price has reached $1.95. Apart from that, $BOME accounts for a 913.80% jump to reach the current price of $0.000000004234. Additionally, $MAGA’s present price is $0.00002438 after a noteworthy 797.71% rise.
DeFi TVL Surges by 4.80% Amid 22.63% Drop in NFT Sales Volume
Simultaneously, in the DeFi sector, the overall TVL has seen a 4.80% upsurge to touch $118.131B. Specifically, AAVE is the leading DeFi project with its TVL reaching $24.593B. Nonetheless, in daily TVL growth, HipPoWSwap is the top player with a massive 22517654% spike.
On the other hand, the NFT market has witnessed a 22.63% dip in its sales volume that presently accounts for$16,059,263. Courtyard is atop the NFT collections with the largest sales volume of $2,251,670, irrespective of a 16.33% decline.
U.S.-China Trade Tensions Ease as SEC Plans Tokenization Roundtable
Overall, the bullish momentum in the crypto sector comes along with the renewed discussions between the U.S. and China to de-escalate their trade war. Concurrently, the U.S. SEC is planning a roundtable to address asset tokenization on May 12.
Moreover, Ethereum’s recent 53% spike in total value locked indicates that the altseason is ready to begin. These developments are positive and could result in a broader bull rally in the crypto landscape.
About the author
Crypto journalist with years of experience providing in-depth analysis and news on blockchain and decentralized finance. With a keen eye for detail, Shahzaib delivers insightful articles that explore the latest trends, market movements, and innovations within the crypto and blockchain ecosystem. His work focuses on educating readers while offering expert commentary on the evolving landscape of digital assets, DeFi protocols, and the broader impact of blockchain technology.
