The crypto market traded flat on April 24, with total market capitalization staying at $2.7 trillion and 24-hour volume dropping to $100.9 billion. Bitcoin edged up 0.13% to $78,170.46, maintaining a 58.2% dominance. Ethereum fell 1.71% to $2,326.34, holding 10.4% dominance. The Crypto Fear and Greed Index rose to 39 from last week's 21 and last month's 14, though lower than yesterday's 46, indicating cautiously improving sentiment.
KAT and MOVR Lead Altcoin Gains, MON and JST Slide
Top 24-hour gainers included Katana (KAT) up 58.29% to $0.01484 on $344M volume, and Moonriver (MOVR) up 59.07% to $2.61 on $120M volume. Zcash (ZEC) rose 8.52% to $343.71. On the losing side, Monad (MON) dropped 5.24% to $0.03217, JUST (JST) fell 4.79% to $0.07978, and Quant (QNT) slipped 2.88% to $71.38. Stablecoin market cap was $316.3B, while DeFi cap stood at $54.7B (2.0% global dominance).
Kelp Exploit Rescue: Lido, EtherFi, Ethena, LayerZero Join Aave Effort; Mantle Proposes 30K ETH Loan
Following the Kelp bridge exploit, multiple entities including Lido, EtherFi, Ethena, LayerZero, Ink Foundation, Golem, and Aave founder Stani Kulechov joined the rsETH rescue operation, pledging stETH, ETH, and other support to restore collateral and contain bad debt. Mantle proposed a 30,000 ETH loan.
Grayscale CEO: Ethereum Staking Mini ETF Led Q1 U.S. ETP Inflows
Grayscale CEO Peter Mintzberg said its Ethereum Staking Mini ETF led U.S. ETP inflows in Q1, while Ethereum recorded record transaction and stablecoin activity levels.
Other Key Developments: Jane Street Seeks Dismissal, Coinbase Lists Three Tokens
U.S. prosecutors charged soldier Gannon Ken Van Dyke with using classified information to profit on prediction markets. Jane Street asked the court to dismiss Terraform collapse trading claims, citing no insider information use. Coinbase Markets added Virtuals Protocol, Pharos, and KAIO to its listing roadmap, dependent on market-making support and liquidity. CoW DAO proposed reimbursing users affected by the April 14 cow.fi domain hijack causing $1.2M USDC losses. Vault protocol 3F, built on Morpho, raised $4M to expand leveraged access to tokenized real-world assets, targeting Q2 2026 mainnet launch. MegaETH met its first token-release KPI with ten live applications ahead of the April 30 TGE.
Market Comparison: Volume Down, Sentiment Cools From April 23
Compared to April 23, market cap remained unchanged but daily volume dropped from $121.7B to $100.9B. BTC's gain narrowed from 2.68% to 0.13%, while ETH flipped from a 1.71% gain to a 1.71% decline. The Fear and Greed Index fell from 46 to 39, signaling selective momentum rather than broad conviction. Traders should watch liquidity, security, and event-driven volatility.