Crypto Market Sees Continuous Downturn As Geopolitical Tensions Grow

The global crypto industry is witnessing a consistent drop this weekend, while the U.S.-Iran war is escalating despite the ongoing Muslim festival of Eid. Hence, the total market capitalization has plunged by 1.60% to reach $2.38T. In addition to this, the 24-hour crypto volume now stands at $62.85B after 23.13% drop. At the same time, the Crypto Fear & Greed Index accounts for 29 points, showing “Fear” among the market participants.

Bitcoin ($BTC) Drops by 2.02% and Ethereum ($ETH) Sees 1.66% Decrease

The leading cryptocurrency, Bitcoin ($BTC), is now trading at $69,219.18. This indicates 2.02% decrease while $BTC’s market dominance stands at 58.2%. Additionally, the flagship altcoin, Ethereum ($ETH), is changing hands at $,117.31, highlighting a 1.66% dip. In the meantime, $ETH’s market dominance is 10.7%.

$TRUMP, $MAGA, and $SEEK Lead Crypto Gainers

Apart from that, the list of today’s top crypto gainers includes PEPE ($TRUMP), TRUMP MAGA ($MAGA), and Talisman ($SEEK). Particularly, $TRUMP has jumped by a staggering 1012.60%, reaching $0.0002282. Following that, a 611.10% rise has placed $MAGA’s price at $0.1594. Subsequently, $SEEK is hovering around $0.1072 after a 357.51% increase.

DeFi TVL Slumps by 0.44% While NFT Sales Volume Records 0.73% Spike

Simultaneously, the DeFi sector has plunged by 0.44%, hitting $95.661B. However, the top DeFi project based on TVL, Aave, shows a neutral performance without any gains or losses at $25.303B. Even then, when it comes to 1-day TVL change, Artemis Protocol is the leading DeFi player, accounting for a stunning 2213% spike over the past twenty-four hours.

In addition to this, the NFT sales volume has surged by 0.73%, touching the $4,660,159 spot. Nevertheless, the top-selling NFT collection, Courtyard, has slumped by 27.75% to hit $854,860.

CFTC Eclucidates Crypto Leverage for Pilot Program, Brazil Stalls Crypto Tax Reforms Amid Latest Finance Leadership

Concurrently, while the Muslims are celebrating their festival with “Eid Mubarak” greetings, the crypto market has witnessed several crucial developments. In this respect, CFTC clarifies prospects on leveraging crypto as a part of the pilot program unveiled last year. Moreover, Brazil has suddenly stalled its crypto tax initiative under exclusive finance leadership. Furthermore, Murfreesboro citizens have lost $4M in $BTC scams.