Today, the broader digital asset market experienced a further drop, with its market capitalization decreasing by 1.25% to $3.14 trillion. However, its transaction volume rose by 46.19% to $97.08 billion. The fear and greed index dropped to 47 from yesterday’s 51, suggesting a neutral market sentiment. This reflects uncertainty among traders, resulting in market stagnation.
The wider crypto market is down because of macroeconomic pressures and bearish investor sentiment. The recent Trump’s new tariffs triggered heightened volatility in the global investment and cryptocurrency markets, leading to dramatic declines in total value and billions in liquidations.
Also, the digital asset market registered a significant downturn over the weekend, caused by the dubious Libra meme coin. Lawyers in Argentina have filed a fraud lawsuit against President Javier Milei for his connection with LIBRA and launching the meme coin.
Bitcoin and altcoins down
Today, the Bitcoin market experienced a further decline. The asset’s price saw a 0.73% decrease to currently $95,354.99. The altcoin market is also down, with major coins like Ethereum and XRP trading down. Over the past 24 hours, ETH’s value declined by 1.44% to $2,669.75. XRP also witnessed a 3.64% price decrease to $2.56. Among the top 10 major crypto assets, SOL recorded the biggest decline of 16.17%.
Top news
Some of the top news in the market today includes the following.
First, Hyperliquid launched an Ethereum Virtual Machine (EVM) popularly known as HyperEVM on its Layer-1 blockchain. The rollout is set to allow developers to run Ether-compatible smart contracts with advanced functionality. The EVM will also provide users access to a broader liquidity pool and a wide variety of resources.
Elsewhere, the Monad protocol announced the launch of its public testnet to take place tomorrow Wednesday, February 19, 2025. The testnet is set to allow developers to test smart contracts and dApps.
Lastly, Kaito AI announced the rollout of its KAITO Yaps snapshot. This launch paved the way for the crypto analytics platform to carry out a snapshot for its genesis NFT collection. The platform advised its asset holders to complete their transactions before embarking on the snapshot. According to the firm, periodic snapshot exercises will play a critical long-term role in the functionality of its Kaito ecosystem.
Top gainers
The following are the tokens with outstanding performance in today’s market.
Shadow Token (SHDW) emerged as the best performer. It recorded an incredible price rise of 52.3% over the past 24 hours. Next is Propchain (PROPC), which secured the second position with a price increase of 35.9% over the same period.
It was closely followed by SoSoValue (SOSO), which registered a 35.7% surge over the same duration. Lastly, Liquid Finance (LIQD) and Moo Deng (MOODENG) gained the spotlight with their 27.1% and 25.3% price hikes respectively. `
