The crypto market stayed under pressure on February 24, with total market capitalization falling to $2.29 trillion, down 0.4% over 24 hours. Bitcoin slipped below $65,000, and sentiment remained deeply negative as the Fear & Greed Index came in at 8. That was slightly higher than the previous day’s 5, but it still reflected extreme fear.
Bitcoin and Ethereum Extend Losses
Among the largest assets, BTC fell about 1.6% to 1.8% over the past day. The source data placed it between $64,184 and $64,223, with trading volume around $47.67 billion to $47.84 billion and market capitalization near $1.28 trillion. ETH dropped about 1.5%, trading in a range of $1,843 to $1,849, with volume near $21.89 billion to $21.9 billion and a market cap of roughly $223 billion.
Bitcoin’s share of the market stood at 56.2%, while Ethereum accounted for 9.76%. Total crypto trading volume reached $121.7 billion over 24 hours. Stablecoins posted a 0.8% decline, with market capitalization at $305.5 billion and volume at $102 billion. DeFi saw sharper weakness, dropping 5.5% to a market cap of $46.29 billion, with $3.7 billion in trading volume and 2% global dominance.
Winners and Losers Split Sharply
XRP bucked the broader trend, rising 0.73% to $1.35. Solana traded at $77.89, down 0.94%. On the gainers list, PIPPIN climbed 18.36%, JST added 6.16%, and ETHFI rose 5.62%. On the downside, Bitcoin Cash dropped 8.60% to $495.38, Hyperliquid lost 5.80%, and Pump.fun fell 4.17%.
Hack Reports and Project Disruptions Weigh on Sentiment
Price action was only part of the story. Step Finance, SolanaFloor, and Remora Markets said they would cease operations after a $40 million hack. The team said it plans STEP buybacks and token redemptions. World Liberty Financial also said it was hit by a coordinated attack after co-founder accounts were compromised. During the incident, USD1 briefly depegged to 0.9802 USDT, while WLFI fell 8% as panic spread.
Elsewhere, Better Home and Finance partnered with Framework Ventures to join the Sky stablecoin ecosystem and received up to $500 million in credit support from Obex. On the regulatory side, former Chainlink Labs Deputy General Counsel Taylor Lindman joined the U.S. Securities and Exchange Commission Crypto Task Force as Chief Counsel, replacing Michael S. Selig, who is now Chairman of the Commodity Futures Trading Commission.
Coinbase to Open ETHGas Spot Trading
Exchange-related news also drew attention. Coinbase Markets said it would launch spot trading for ETHGas (GWEI) on February 24, 2026. The GWEI-USD market is scheduled to open at 9:00 AM PT, subject to liquidity conditions. At the World Liberty Financial forum, CZ said Binance US could expand in the American market if regulations become more favorable, adding that the SEC had withdrawn its suit against the company in 2023.
Compared with February 23, when the market cap stood at $2.38 trillion and the Fear Index was 5, the market lost more value by February 24 even as the sentiment gauge improved slightly. Prices remained soft, liquidity looked fragile, and the day’s focus stayed on security breaches, regulatory personnel changes, and a new exchange listing.