The virtual money market had a rollercoaster day with positive sentiments today. Though the major assets mentioned above only made small moves, there were huge changes in certain sectors. The overall market cap experienced a small drop of 0.24%, with total market capitalization closing at $3.67 trillion.
The DeFi sector saw a marginal increase in TVL, going up by 0.05% to $126.238 billion. It’s worth noting that Tangible had an incredible 65822% increase in TVL in the last 24 hours, showcasing just how fast-paced the DeFi environment can be.
Gensler confirms SEC regulation of crypto Bitcoin was up slightly by 0.02% at countering $117,748.81 while holding a market dominance of 63.8%. Ethereum followed Ethereum with a small -0.14% drop to trade at $2,952.72, with a market dominance of about 9.7%.
The overall NFT market experienced a significant downturn, with total sales volume decreasing 30.49% to $17,403,798. Even the worst-selling NFT collection, Courtyard, experienced a -39.90% decrease in sales. This drop off — though certainly disappointing — shines a light on a broader cooling trend within the NFT space.
Elon Musk’s call for the release of Epstein’s files sent the crypto markets into a tizzy—and the shot heard round Ethereum’s world just might be the Elon effect. The precise nature and extent of this impact deserves continued observation.
In other news, BlockFi reached an agreement with the Department of Justice over a large crypto fraud case. A federal judge has approved that proposed settlement. This notable advance highlights the growing regulatory concern for the consequences within the crypto industry.
Ethiopia’s national digital currency Kenya’s national digital tokken based on Solana block chain. This would be another major development in the embrace of blockchain technologies by sovereign countries.
