Today, the broader digital asset market saw a slight recovery after significant declines in recent days. The overall market valuation increased by 2.57% to reach $3.21 trillion, while the market volume decreased by 23.62% to $241.16 billion. In addition, the fear and greed index rose to 72, indicating improved investor enthusiasm in the digital asset market.
This recovery was influenced by the temporary halt of a recent proposal by US President Trump to impose heavy taxes on goods imported from Canada and Mexico. The plan had caused fear in the global markets, including the cryptocurrency market. However, after the Mexican president reached an agreement with Trump to postpone the taxation plan for one month, and the Canadian Prime Minister discussed the tax issues with Trump over the phone, market anxiety was alleviated, leading to some recovery in the cryptocurrency markets.
In the Bitcoin market, there was a mild resurgence, with a 3.18% rise, bringing the current trading price to $98,545. The market dominance of Bitcoin also increased to 60.89%, reaching $1.954 trillion. Whales took advantage of the market dip in the past three days and purchased large amounts of BTC tokens at lower prices, contributing to the price increase. Although the value of Bitcoin briefly rose to $102,000 earlier today, it retraced back to the $98,000 level.
Altcoin markets also experienced a slight recovery. Ethereum rose by 5.86% to $2,693, XRP saw a 7.46% increase to $2.51, and Solana registered a 4.50% uptick to $203.85. Dogecoin and Cardano also witnessed increases of 6.20% and 5.44% respectively, trading at $0.2623 and $0.7269. Only BNB and TRON showed small decreases of 0.11% and 1.18% respectively among the top 10 major cryptocurrencies.
In other major news, World Liberty Financial, a crypto DeFi project associated with US President Trump, took advantage of the market dips and purchased 86,000 Ethereum tokens worth $220 million. Eric Trump, the son of Trump, also encouraged buying Ether in a tweet. Moreover, Trump approved an executive order to develop the first-ever US Sovereign Wealth Fund, which is a common practice in non-western, oil-rich nations.
As for the top gainers in the crypto markets, DOGEai (DOGEAI) showed the highest performance with a 197% price increase in the last 24 hours. It was followed by SwarmNode.ai (SNAI) with a 122% surge and AGiXT (AGIXT) with an 80.3% rise. Cloudyheart (CLOUDY) and Tri Sigma (TRISIG) also experienced significant increases of 71.7% and 58.9% respectively.