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 $142.23B. In addition to this, the crypto Fear & Greed Index shows considerable “greed” at 75 points.
Bitcoin ($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 $2,559.38, indicating an 8.97% price increase. Hence, Ethereum’s market dominance stands at 9.2%.
The prominent crypto gainers of the day include Black Phoenix ($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.
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.
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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.