Crypto Market Dips as Tariff Tensions Rise and Investor Sentiment Wavers

The crypto sector is currently expressing notable volatility as the market statistics reveal. In this respect, the total crypto market capitalization has plunged by 2.91% to reach the $3.25T mark. On the other hand, the 24-hour crypto volume accounts for $148.67B after a 7.97% increase. Additionally, the crypto Fear & Greed index is neutral at 55 points.

Bitcoin Plunges by 2.32% and Ethereum Records 4.34% Price Dip

The top cryptocurrency Bitcoin ($BTC) has gone through a 2.32% slump in price to touch $103,668. In addition to this, its market dominance stands at 63.5%. Apart from that, Ethereum ($ETH) has seen a 4.34% price plunge to reach $2,518. At the same time, the flagship altcoin now accounts for 9.4% when it comes to market dominance.

$SNL, $SWOL, and $FREYA Dominate Daily Crypto Gainers

Snow Leopard ($SNL), Snowy Owl ($SWOL), and Freya by Virtuals ($FREYA) are the leading crypto gainers of the day. Hence, at the top, $SNL has witnessed a staggering 2321.17% rise to reach $0.0000002621 in price. Subsequently, $SWOL is changing hands at $0.0002400, accounting for a 2277.06% price upsurge. Following that, $FREYA has jumped by 1613.13% to reach $0.005765.

DeFi TVL Shows 3.14% Decline While NFT Sales Volume Rises by 11.18%

Just like the volatility seen in the crypto market, the DeFi sector has also recorded 3.14%, bringing its TVL down to $112.045B. Particularly, AAVE is the top DeFi platform as it comprises $24.117B in TVL. However, Azuro has taken the peak position when it comes to 1-day TVL change, accounting for a stunning 93458% upsurge.

Contrarily, the NFT sector has seen an 11.18% increase in sales volume to reach the $14,629,218 spot. Courtyard is the top NFT collection, underscoring a $1,784,648 in sales volume after a 24.98% rise.

Trump Doubles Tariffs Targeting Chinese Imports whereas BlackRock’s $BTC ETF Loses $430M

A key factor behind the ongoing crypto volatility is the rekindled tariff war between the United States and China. In this respect, the U.S. President has doubled tariffs on Chinese imports while accusing the country’s administration of supposedly infringing trade agreements.

Amid the wider uncertainty triggered by this decision, BlackRock’s $BTC ETF has lost $430M, highlighting its biggest single-day outflow. Moreover, the U.S. SEC commissioner Hester Peirce has announced a pullback from the regulation of meme coins.