The cryptocurrency market is experiencing a capitalization decline, resulting in significant volatility and changes in trading volume.
General Market Trends
In the past 24 hours, the global cryptocurrency market cap fell by 7.3%, now standing at $3.84 trillion. Trading volume reached $152.8 billion. A total of 17,852 cryptocurrencies are currently being tracked, reflecting continued activity despite the downturn.
Major News and Events
Several significant events have been noted in the cryptocurrency market. The Bank of Japan kept interest rates steady, despite inflation concerns, announcing a relief package of $6.3 billion. In India, the largest crypto exchange CoinDCX suffered a $44 million hack, and the company is working on asset recovery. Additionally, SEC Chairman Paul Atkins launched 'Project Crypto' to update U.S. legislation on digital assets.
Status of Key Assets
Bitcoin continues to be the most actively traded cryptocurrency with a trading volume exceeding $51 billion and a market cap of $2.28 trillion, maintaining a 59.9% market share. Ethereum also shows significant activity. The stablecoin sector has experienced a 3.6% decrease, with a market cap of $6.83 billion. The DeFi sector has seen a dip, now at $142 billion.
The cryptocurrency market continues to display volatility with falling capitalization and trading activity. It is crucial to monitor major events and emerging trends that may impact the market's future.
