Crypto Market Shows Slight Recovery Due To Rising Investor Optimism

The worldwide crypto market is now expressing signals of a renewal in investor optimism. Hence, the total crypto market capitalization has touched the $3.44T following a 0.60% increase over the past 24 hours, while 24-hour crypto volume has seen a 20.14% rise to reach $128.5B. In addition to this, the crypto Fear & Greed index also shows “greed” at 68 points.

Bitcoin Sees 0.19% Surge and Ethereum Shows 2.92% Increase

Bitcoin ($BTC) has witnessed a 0.19% increase in its price which has reached the $109,021.69 mark. Additionally, its market dominance currently stands at 63.0%. Apart from that, Ethereum ($ETH) has also recorded a 2.92% surge that has led its price to $2,640.51 while its market dominance accounts for 9.3%.

$FTW, $SPOT, and $CAT Dominate Daily Crypto Gainers

Concurrently, Black Agnus ($FTW), Defispot ($SPOT), and NOT ($CAT) are atop the crypto gainers of the day. In this respect, $FTW has witnessed a stunning 1212.01% price upsurge to reach $0.00000005512. Subsequently, $SPOT’s current price is $0.000005051 after an 852.85% increase. Following that, $CAT has seen a 556.72% rise to touch $0.00002545.

DeFi TVL Jumps by 2.52% whereas NFT Volume Slumps by 13.21%

Similarly, the DeFi TVL has also attained a 2.52% jump, reaching $119.515B. Particularly, with the largest TVL of $25.484B, AAVE leads the DeFi platforms. However, when it comes to a 1-day TVL increase, HipPowSwap is the top platform accounting for a 19036273% rise.

On the other hand, the NFT landscape has gone through a 13.21% dip in the sales volume to reach $13,750,890. The top NFT collection is DMarket as its sales volume is atop others, comprising $1,226,536.

IMF Demands El Salvador Freeze $BTC as Vegas Event Fuels Optimism

Overall, while the crypto sector is making continuous progress, several crucial developments are unfolding. Specifically, the IMF has again persuaded El Salvador, the first country to make Bitcoin its legal tender, to freeze the $BTC holdings amid the latest loan deal. Moreover, the ongoing Bitcoin Conference in Las Vegas is also raising expectations of a likely rebound over the next days.

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.