Crypto Market Sees Short-Term Sideways Movements amid Growing Volatility

The crypto landscape has seen a provisional downturn over the past 24 hours amid the rising volatility concerns. As per the new market data, the cumulative crypto market capitalization has reached $3.79T after a 3.25% drop.

However, the 24-hour crypto volume has jumped by 12.01%, reaching the $233.55B mark. At the same time, the Crypto Fear & Greed Index maintains a neutral position while accounting for 43 points.

Bitcoin Drops by 2.05% and Ethereum Witnesses 5.53% Decrease

Particularly, Bitcoin ($BTC) has gone through a 2.05% dip, touching the $110,237.91 mark. In addition to this, the flagship crypto asset’s market dominance has also dropped to 57.8%. Similarly, Ethereum ($ETH) has plunged by 5.53%, claiming the $4,446.36 mark. Along with that, the market dominance of the top altcoin now accounts for 14.1%.

$SWOL, $BPX, and $MICHI Lead Crypto Gainers

Apart from that, Snowy Owl ($SWOL), Black Phoenix ($BPX), and Michi ($MICHI) are the top among the crypt gainers. Specifically, $SWOL has surged by 4969.55%, touching $0.000007979. Following that, $BPX is now changing hands at $2.82 after a 4902.04% increase in its price. Subsequently, $MICHI has witnessed a 2772.07% rise, claiming the $0.02362 mark.

DeFi TVL Plunges by 3.98% While NFT Sales Volume Surges by 33.79%

Simultaneously, the DeFi TVL has also slumped by 3.98% while now standing at $152.075B. Additionally, the top DeFi project in terms of TVL, Aave has also recorded a 2.57% dip, reaching $38.906B. Nonetheless, when it comes to 1-day TVL change, zkBoost stands in the 1st position, accounting for a stunning 291244% rise over twenty-four hours.

Contrary to the DeFi downturn, the NFT sales volume has surged by 33.79%, touching the $22,956,640 mark. Additionally, the top-selling NFT collection, Pudgy Penguins, has jumped by 158.52% to attain the $2,587,337 mark.

Anchorage Unveils VC Unit to Support Next-Gen Protocol, Whereas Trump Fires Fed Governor

Moving on, several other influential developments have also taken place in the crypto industry over the past 24 hours. In this respect, crypto banking platform Anchorage has officially launched a venture capital unit to assist emerging protocol teams in presenting their products to the wider market with substantial institutional backing.

Moreover, Trump has fired Lisa Cook from the position of the Federal Reserve Governor while citing constitutional authority as well as the Federal Reserve Act. Furthermore, World Liberty Financial ($WLFI) has unlocked a noteworthy 6.55B tokens ($1.5B) on the 26th of August, equaling nearly 6.55% of the cumulative supply.