Recent data shows that the crypto market is experiencing a temporary decline, reflected in its capitalization and trading volumes.
State of the Crypto Market
The total market capitalization of cryptocurrencies has reached $3.34 trillion, representing a 1.94% decline. The 24-hour trading volume has dropped by 6.62% to $136.07 billion. The Fear & Greed Index for cryptocurrencies indicates a level of 'greed' at 61 points.
Price Changes for Bitcoin and Ethereum
Bitcoin recorded a 1.37% decrease, bringing its price down to $106,156.96, with a market share of 63%. Ethereum saw a 3.23% decline, slipping to $2,637.12, currently holding a market dominance of 9.5%.
Trends in DeFi and NFTs
The DeFi market experienced a 2.29% decline, bringing its Total Value Locked (TVL) down to $116.099 billion. The leading DeFi platform AAVE faced a 3.61% drop in its TVL. Meanwhile, NFT sales volumes fell by 13.40%, reaching $13,479,590, with Courtyard having the highest sales volume among NFT collections.
Current trends in the cryptocurrency market, including price declines and volume reductions, are driven by macroeconomic uncertainties, highlighting the need for continued observation of the situation.
