Crypto Market Hits Deep Consolidation with Massive Price Drops

The crypto landscape is entering a further consolidation phase, with significant losses seen over the past 24 hours. Hence, the total crypto market capitalization has dropped by 3.73%, reaching the $3.4T mark. However, the 24-hour crypto volume has touched $315.06B after a 58.25% jump. At the same time, the Crypto Fear & Greed Index has further dropped within the “Fear” zone to reach 20 points.

Bitcoin Dips by 3.57% and Ethereum Sees 6.48% Decrease

Particularly, the flagship crypto asset, Bitcoin ($BTC), is changing hands at $101,842.66. This denotes a 3.57% decrease, while the market dominance of the leading cryptocurrency has hit 60%. Along with that, Ethereum ($ETH) is now trading at $3,333.54, presenting a 6.48% decline. In addition to this, its market dominance accounts for 11.9%.

$CATX, $TURBO, and $GME Dominate Crypto Gainers of Day

Apart from that, the list of leading crypto gainers takes into account CATX ($CATX), Turbo Trump ($TURBO), and GameStop Coin ($GME) in the key positions. Specifically, $CATX has witnessed a staggering 2897.44% to reach the current price of $0.000006251. Following that, $TURBO is now hovering around $0.002142 after a 556.62% increase. Subsequently, $GME’s 471.95% rise has pushed its price to $0.00004977.

DeFi TVL Plunges by 8.95% While NFT Sales Volume Records 49.15% Rise

Simultaneously, the DeFi TVL has recorded a 6.18% dip, attaining the $133.008B figure. Additionally, the top DeFi project in terms of TVL, Aave, has gone through an 8.95% drop, hitting $32.845B. Nonetheless, when it comes to 1-day TVL change, Brise Swap stands atop the DeFi projects, claiming a stunning 4746747630637611008% increase over twenty-four hours.

In the same vein, the NFT sales volume has claimed the $16,947,076 mark after a 49.15% upsurge. Similarly, the top-selling NFT collection, CryptoPunks, has spiked by 594.76%, reaching $1,363,656.

Trent Merrin Held for Crypto Fraud, DWF Labs Loses $44M

Moving on, the crypto market has also experienced several other notable developments across the globe. In this respect, Trent Merrin, a former Rugby League star, has recently been detained for allegedly defrauding $91,000 in a crypto fraud.

Moreover, StraitsX, a Singapore-based crypto entity, is broadening its stablecoin payment ecosystem across Asia in partnership with KBank of Thailand. Furthermore, DWF Labs has allegedly incurred a $44M loss in a hack associated with AppleJeus hacking group of North Korea.