The global crypto market capitalization fell to $2.42 trillion over the last 24 hours, a 2.0% decline. Trading activity stayed elevated at $109 billion, but sentiment remained weak, with the Crypto Fear and Greed Index at 11, still in extreme fear territory.
Bitcoin and Ethereum both moved lower. BTC traded at $68,971, down 2.05% in 24 hours, with volume at $40.71 billion and market capitalization at $1.37 trillion. ETH fell to $2,019.26, a 4.65% drop, with $23.63 billion in trading volume and a market cap of $243.89 billion. Bitcoin dominance stood at 57%, while Ethereum held 10.1%.
Altcoins Split Sharply as Winners and Losers Diverge
Outside the majors, price action was uneven. Among the strongest movers, POWER changed hands at $0.3747, up 46.86%. PIPPIN rose 41.17% to $0.3917, RIVER climbed 35.67% to $18.02, and LayerZero (ZRO) gained 15.91% to $2.15.
Losses were also steep in several names. WARD fell 17.81% to $0.1106, while ZAMA dropped 20.87% to $0.02207. MYX traded at $5.56, down 10.54%; DCR slipped 10.30% to $24.01; and CRV declined 7.36% to $0.2349.
Stablecoins and DeFi Ease Lower While Volumes Stay Firm
The stablecoin segment posted a 0.1% negative change over the same period, with market capitalization at $310 billion and trading volume at $85.3 billion. DeFi recorded a steeper 2.9% decline, bringing its market cap to $48.37 billion and volume to $3.6 billion. Its global market share was listed at 2%.
Sentiment readings also showed a broader slide over time. The Fear and Greed Index was 9 yesterday, 14 last week, and 27 last month. The latest reading is slightly above the prior day, but still far below the level seen a month ago.
Institutional and Infrastructure Updates Continue
Even with prices under pressure, industry development headlines kept coming. Dragonfly partner Haseeb Qureshi said crypto sentiment is not as bad as during the FTX collapse, pointing to continuing fundamentals, rising institutional adoption, DEX volume, and stablecoin growth.
Hyperliquid’s HIP-3 perpetual markets reached a peak daily volume of $5.2 billion on February 5. Coinbase added ETHGas (GWEI) to its listing roadmap, though trading will depend on technical support and infrastructure readiness, with the launch date to be announced later. Michael Saylor also said Strategy faces no pressure to sell Bitcoin and plans to keep making quarterly purchases.
In Japan, Nomura and Daiwa are working with the country’s three megabanks on a pilot for securities trading using stablecoins. The stated goal is 24/7 blockchain settlement, with the pilot expected to begin shortly after notification to regulators.