The crypto market showed a mixed picture on March 2, with the total capitalization declining 1.1% to $2.37 trillion amid extreme fear sentiment. However, several altcoins delivered outsized gains. WAR token soared 108.09% to $0.01867, leading all gainers. Jupiter (JUP) rose 7.89% to $0.172, Hyperliquid (HYPE) climbed 7.7% to $32.63, and Immutable (IMX) gained 4.65%. On the downside, Tezos (XTZ) dropped 3.21%, Pepe (PEPE) fell 3.02%, and XDC Network slipped 3.01%.
Bitcoin and Ethereum Hold Ground Despite Fear
Bitcoin (BTC) traded at $66,605, up 0.34%, with a market dominance of 56.2% and a trading volume of $40 billion. Ethereum (ETH) edged higher by 0.85% to $1,970.13. Stablecoins remained flat at a $311.3 billion market cap, while DeFi saw a marginal 0.2% rise to $50.3 billion. The Crypto Fear & Greed Index dropped to 10 (extreme fear), down from 14 yesterday and 20 a month ago.
Poland Approves Crypto ETPs; Binance Staff Told to Stay Indoors
The Warsaw Stock Exchange (WSE) gave the green light to Virtune's crypto ETPs tracking BTC, ETH, SOL, and XRP, with assets custodied at Coinbase and verified via Chainlink. In a separate development, following Iran's missile and drone attack on US bases in the UAE, Binance instructed employees in Dubai to remain indoors for two days. Meanwhile, a JPMorgan report suggested the US CLARITY Act could pass mid-year, potentially ending regulation-by-enforcement.
Tokenized Gold Market Skyrockets; Governance Turmoil Hurts TVL
With CME closed on weekends, tokenized gold has taken over price discovery, its market cap surging 177% to $4.4 billion and recording $178 billion in trading volume in 2025. A three-month governance dispute on one blockchain slashed TVL from $36 billion to $26.5 billion. Justin Sun moved $910 million in stablecoins to Sky's Spark, boosting its deposits to $1.48 billion.
The current environment presents both risks and opportunities. Investors should monitor liquidity and fundamental developments closely.