Crypto Market Remains in ‘Fear’ Zone Amid Sideways Price Movements

The crypto sector is witnessing a continuous downtrend, while the top assets are facing notable losses. Thus, the total crypto market capitalization accounts for a 1.04% dip, reaching $2.23T. However, the 24-hour crypto volume has surged by 48.94% to touch $167.43B. At the same time, the Crypto Fear & Greed Index is still in the “Extreme Fear” zone while sitting at 17 points.

Bitcoin Sees 0.88% Drop and Ethereum Slips by 0.69%

Particularly, the top crypto asset, Bitcoin ($BTC), is changing hands at $95,038.62. The respective price level points out a 0.88% decrease over the past 24 hours. In addition to this, the market dominance of the flagship crypto asset stands at 58.7%. Along with that, Ethereum ($ETH) is trading at $3,184.33, with a 0.69% drop in price. Meanwhile, its market dominance is 11.9%.

$CATX, $XBTC, and $DOGEX Dominate Crypto Gainers of Day

Apart from that, the CATX ($CATX), XenBitcoin ($XBTC), and DOGEX ($DOGEX) are the top among the leading crypto gainers. Specifically, $CATX has seen a staggering 1991.81% rise, touching the price level of $0.000003522. Subsequently, $XBTC is now hovering around $397.71 as a result of a 1818.20% increase. Following that, $DOGEX’s 842.30% surge has placed its price at $0.0000001347.

DeFi TVL Plunges by 4.12% and NFT Sales Volume Records 1.84% Decrease

Simultaneously, the DeFi TVL has dropped by 1.17%, claiming the $124.758B mark. Additionally, the top DeFi project in terms of TVL, Aave, has slumped by 4.12%, hitting the $31.742B spot. Nonetheless, in the case of 1-day TVL change, pSTAKE Finance maintains its peak position among key DeFi projects, attaining a stunning 33874747% growth over twenty-four hours.

Concurrently, the NFT sales volume has recorded a 1.84% plunge, accounting for $9,413,414. Additionally, with a 20.69% dip, the top-selling NFT collection, DMarket, stands at $696,696.

Japan Updates Crypto Rules, China Lifts Export Bans on Key Metals

Moving on, the crypto landscape has also witnessed many other key developments. In this respect, Japan’s FSA has expressed plans for the reclassification of up to 105 crypto coins among financial products under a unique tax law that reduces crypto taxation from 55% to just 20%.

Moreover, Monetary Authority of Hong Kong is unveiling a pilot project for tokenized deposits with real-value transfers. Furthermore, China has lifted prohibition on gallium, antimony, and germanium exports to the United States.