The crypto market is currently going through a major recovery spree with huge gains witnessed by the key crypto assets like Bitcoin ($BTC) and Ethereum ($ETH). The total crypto market cap has touched $3.34T after a 2.17% surge, while the 24-hour trading volume is $142.23B. In addition to this, the crypto Fear & Greed Index shows considerable “greed” at 75 points.

Bitcoin Rises 0.35% While Ethereum Records 8.97% Increase

Bitcoin ($BTC) has recently touched the high price level near $105K while its current price is $103,888.57, indicating a 0.35% rise. Additionally, its current market dominance is 61.8%. Similarly, Ethereum ($ETH) is now changing hands at $2,559.38, indicating an 8.97% price increase. Hence, Ethereum’s market dominance stands at 9.2%.

$BPX, $BOME, and $MAGA Lead Top Crypto Gainers of Day

The prominent crypto gainers of the day include Black Phoenix ($BPX), Book of Meme 3.0 ($BOME), and PEPE MAGA ($MAGA). $BPX has gained a staggering 1593.90% price spike while its current price has reached $1.95. Apart from that, $BOME accounts for a 913.80% jump to reach the current price of $0.000000004234. Additionally, $MAGA’s present price is $0.00002438 after a noteworthy 797.71% rise.

DeFi TVL Surges by 4.80% Amid 22.63% Drop in NFT Sales Volume

Simultaneously, in the DeFi sector, the overall TVL has seen a 4.80% upsurge to touch $118.131B. Specifically, AAVE is the leading DeFi project with its TVL reaching $24.593B. Nonetheless, in daily TVL growth, HipPoWSwap is the top player with a massive 22517654% spike.

On the other hand, the NFT market has witnessed a 22.63% dip in its sales volume that presently accounts for$16,059,263. Courtyard is atop the NFT collections with the largest sales volume of $2,251,670, irrespective of a 16.33% decline.

U.S.-China Trade Tensions Ease as SEC Plans Tokenization Roundtable

Overall, the bullish momentum in the crypto sector comes along with the renewed discussions between the U.S. and China to de-escalate their trade war.  Concurrently, the U.S. SEC is planning a roundtable to address asset tokenization on May 12.

Moreover, Ethereum’s recent 53% spike in total value locked indicates that the altseason is ready to begin. These developments are positive and could result in a broader bull rally in the crypto landscape.