Crypto Market Slips as Fear Index Hits 39, $BTC and $ETH Extend Losses

The crypto sector is going through a deeper correction as the renowned assets are currently in the red. In this respect, the cumulative crypto market capitalization has reached the $3.88T mark after a 0.36% dip over the past 24 hours.

In addition to this, the 24-hour crypto volume now stands at $1650.03, expressing a 24.49% decline. In the same vein, the Crypto Fear & Greed Index has also entered the “Fear” zone while accounting for 39 points.

Bitcoin Slips 0.11% and Ethereum Sees 0.37% Drop

Particularly, the top cryptocurrency, Bitcoin ($BTC) has seen a 0.11% drop, reaching the price level of $112,614.68. Additionally, its market dominance is nearly 57.8%. Similarly, Ethereum, the leading altcoin, has also dropped by 0.37% as its price is now sitting at $4,172.32. Along with that, the market dominance of Ethereum is 13.0%.

$FELIS, $CREMEPUFF, and $GME Dominate Crypto Gainers of Day

Apart from that, the top crypto gainers of the day take into account Felis ($FELIS), Creme Puff ($CREMEPUFF), and GameStop Coin ($GME). Specifically, $FELIS has jumped by 1121.37%, touching the $0.0000009782 mark. Following that, with a 734.28% rise, $CREMEPUFF is now trading at $0.00008769. Subsequently, $GME is changing hands at $0.0001397 after a 474.89% growth.

DeFi TVL Plunges by 1.87%, While NFT Sales Volume Records 8.55% Rise

Simultaneously, the DeFi TVL has witnessed a 1.87% slump, claiming the $151.203B mark. Additionally, the top DeFi project in terms of TVL, Aave , has seen a 1.49% decline, reaching the $39.857B spot. However, when it comes to 1-day TVL surge, MemeJob has obtained the top position in the DeFi sector, claiming 986377634344% growth over twenty-four hours.

Concurrently, the NFT sales volume has jumped by 8.55%, attaining the $14,173,536 figure. Analogously, the top-selling NFT collection, CryptoPunks, has recorded a 211.09% increase, reaching $1,168.069.

Japan, South Korea, and US to Collaborate for Economic Security, Whereas US CFTC Rolls Out Stablecoin Collateral Strategy

Moving on, the crypto industry has also gone through several other developments over 24 hours. In this respect, Japan, South Korea, and the US foreign ministers have met recently in New York to fortify cybersecurity, AI, and economic security with technological collaboration.

Moreover, Changpeng Zhao, the former CEO of Binance, has condemned a Financial Times report concerning his YZI Labs, which is an AI and Web3 venture. Furthermore, the US CFTC has unveiled a stablecoin collateral strategy to govern derivatives markets.