Cryptocurrency Sector Experiences Wide-scale Decline with Bitcoin Falling Below $116,000
In the dynamic world of cryptocurrencies, the past 24 hours have been marked by a mix of gains and losses. Here's a roundup of the significant movements and developments.
The Zebec Network (ZBCN) emerged as the day's biggest gainer, surging by an impressive 23.70%. Other notable cryptocurrencies that experienced growth include Avalanche (AVAX) with a 14.41% increase and ether.fi (ETHFI) by 11.25%. However, Ethereum ($ETH) itself slumped by 1.84%, reaching a price level of $4,477.44.
Ethereum's market dominance currently stands at almost 13.4%, while the total crypto market capitalization dropped by 1.24%, reaching $4.03T. Bitcoin ($BTC) is currently trading at $115,664.08, indicating a 1.15% dip. The market dominance of Bitcoin stands at 57.2%.
The 24-hour crypto volume has decreased by 17.69%, touching $128.07B. Meanwhile, the Crypto Fear & Greed Index remains "Neutral," with a score of 48 points.
In the Non-Fungible Token (NFT) sector, the top-selling collection, Bored Ape Yacht Club (BAYC), has seen a 251.71% increase, totaling $1,978,503. The NFT sales volume has risen by 12.17%, amounting to $18,418,852.
Notable events in the industry include Coinbase integrating DeFi Lending in partnership with Morpho, and Grayscale filing for the conversion of its Dogecoin Trust into an exchange-traded fund (ETF).
Interestingly, BullRun Meme ($BRM) has experienced a staggering 3947.58% increase, reaching $60.8M. On the other hand, Brise Swap has experienced a massive increase in TVL over 24 hours, though the exact percentage is beyond the typical precision of this statistic.
Lastly, it's worth noting that the EU has included crypto assets in sanctions against Russia, potentially impacting cross-border trading. Another cryptocurrency, Z ($Z), has risen by 3427.86%, with its latest price at $0.001223.
As always, the cryptocurrency market continues to evolve, offering a rollercoaster ride for investors and observers alike. Stay informed and make your decisions wisely.
