Crypto Market Recovers Amid Optimism Led By Fed Chairman Powell

The crypto market has again turned green amid the positive momentum created by the macroeconomic shift. As per the market data, the latest remarks of the Federal Reserve Chairman Jerome Powell have triggered a noteworthy crypto uptick. Hence, the overall crypto market capitalization has reached $2.79T, showing a 1.29% increase over 24 hours.

Bitcoin ($BTC) Surpasses $84K with a 1.24% Jump While Ethereum Surges by 0.06%

Bitcoin ($BTC) has jumped by 1.24% to reach $84,415, whereas its market dominance has plunged by 0.06% to 60.08%. In addition to this, Ethereum ($ETH) stands at $1,602, indicating a 2.02% price surge over the past twenty-four hours. Apart from that, the market dominance of the key altcoin is 6.93%, denoting a 0.66% upsurge.

$AIDOGE and $HYPE Lead Small and Large-Cap Crypto Gainers

The prominent crypto gainers include $AIDOGE and $HYPE. $AIDOGE leads small-cap crypto gainers with a 62.9% while $HYPE dominates large-cap crypto gainers with an 8.42% rise. Their current prices account for $0.0000000003 and $16.07 respectively.

NFT and DeFi Markets Slump by 4.9% and 1.8% Respectively

The NFT market’s volume has plunged by 4.9% to touch $3.3M. The top NFT collections are “Guild of Guardians” and “VcityMeta House.” The former has recorded the peak volume of $1.0M while the latter has seen a remarkable volume growth of 1,181%. Simultaneously, the DeFi sector slumped by 1.8% as its TVL reached $122B. Particularly, Neutron has become the top blockchain in terms of TVL growth. Hence, its total value locked has jumped by 73%.

Base Memecoin Plunges by 95% before Rebound

The exclusive funding rounds include Neutrl, Glider, and ORO AI. Individually, they have pocketed collected $5.0M, $4.0M, and $6.0M. Overall, led by the speech of the Fed Chairman Powell, Bitcoin has effectively climbed above the $84K mark.

Apart from that, Base has unveiled a promotional link for its memecoin, going by ‘Base is for everyone.’ However, the memecoin, which was released on Zora, saw a 95% decline following an initial jump. Even then, the token has significantly recovered. VanEck also plans to release a crypto-related investments exchange-traded fund next month.