Major cryptocurrencies including Bitcoin and Ethereum were trading in the red, while XRP, Solana, and Tron were showing gains. The overall cryptocurrency market capitalization has been range-bound at slightly below $1.2tn, indicating a lack of trend control. DeFi volume currently represents 8.67% of the total crypto market 24-hour volume, while stablecoins account for 92.65%. Despite the neutral sentiment shown by major market oscillators, investors are waiting for a significant narrative to emerge, and the cryptocurrency market is likely to remain sluggish.
