Today, the global digital asset market experienced slight downsides. While its total valuation recorded a 0.23% drop to $3.55 trillion, its transaction volume registered a 22.78% decline to $100.43 billion. As a result, the fear and greed indicator fell to 70, suggesting robust user confidence in the market.
Bitcoin at $104,194
The overall market decline triggered a decrease in Bitcoin’s value. The largest cryptocurrency witnessed a 1.03% drop, making its price currently read at $104,194.50. Its market dominance also fell to 58.16%, bringing its market valuation to $2.06 trillion. Its trading volume also experienced a 28.95% decrease to $37.52 billion.
The altcoin market saw mixed performance
In today’s altcoin market, TRON and Ethereum emerged as the best performers in the top 10 major cryptocurrency section. TRON registered a 3.28% increase, now trading at $0.2538. Likewise, Ethereum recorded a 1.48% upsurge, leading to its value to currently stand at $3,238.61.
Other tokens in this section are down. XRP, Solana, and BNB saw minor retreat by 1.33%, 1.64%, and 0.02% respectively. Dogecoin and Cardano also encountered a slight fallback by 0.997% and 1.19% respectively.
Top news in the market
Today, major happenings and events in the digital asset market include the following:
First, Ross Ulbricht, the creator of the Silk Road black marketplace, has allegedly lost $12 million when trying to trade a meme coin on Pump.fun. Ulbricht made a technical mistake that saw him lose massive amounts of funds. As part of this effort to sell ROSS tokens, a meme coin launched by his followers following his release from prison, he tried to add liquidity on the Raydium DEX platform. He, however, made a serious error when setting up a liquidity pool, which led to his tokens becoming instantly available for trading at the wrong place.
Elsewhere, Kraken reintroduced cryptocurrency staking services for US customers in 39 states, providing crypto users with an opportunity to stake 17 tokens. Users can now access such staking services through Kraken Pro. In 2023, the trading platform halted its staking services after settling SEC’s charges and agreeing to pay $30 million. During that time, the regulator claimed that the exchange had provided US customers with unregistered tokens through its staking program.
Lastly, Venmo founder Sam Lessin launched the Jelly Jelly meme coin on Pump.fun. The meme coin’s rollout rapidly attracted investors’ interest and boosted its price to new heights. The meme coin gained massive attention after a crypto trader turned $1k into $1 million profit trading the token within one hour.
Top gainers
Today’s best performers are interesting as they are new faces in the market. Chainflip (FLIP) emerged as the top gainer with a 59.2% price rise over the past 24 hours. It was followed by Cratos (CRTS), which recorded a 55% price upsurge over the same period.
While Luigi Coin (LUIGI/SOL) came third with a 51.2% uptrend, LOFI (LOFI) secured position four with a 38.2% increase. Lastly, Paw Chain (PAW) closed today’s top gainers list with a 27.4% rise.
