Cryptocurrency industry turmoil and market adjustments, reward posts flooding the screen draw attention

Industry Reward Controversy Sparks Attention, Fraud Incidents Frequently Exposed

In the past 24 hours, several noteworthy events have occurred in the crypto industry. A major exchange has launched a $5 million reward program, soliciting reports worldwide on impersonators acting as token listing agents. This move reflects the prevalent scam issues in the market. Meanwhile, the US SEC has accused Cirkor Inc., Berge Blockchain Technology Co., Ltd., and Morocoin Tech Corp. of defrauding investors of over $14 million. Additionally, well-known Bitcoin asset management firm Matador has been approved to sell $58 million worth of shares, indicating ongoing confidence from traditional financial institutions in crypto assets.

Bitcoin and Ethereum Enter Consolidation, Market Sentiment Turns Cautious

The cryptocurrency market has recently experienced slight adjustments. According to the latest data, Bitcoin (BTC) is currently priced at $90,690, with a 24-hour change of +0.03%, accounting for 55.89% of the market cap. Simultaneously, Ethereum (ETH) is trading at $3,120, with a 24-hour increase of +0.43%, holding an 11.60% market share.

After recent volatility, the global crypto market cap shows that market participants’ sentiment indicator, the Crypto Fear & Greed Index, is at 27 points, reflecting a “fear” phase. Meanwhile, 24-hour trading volume remains high at $100.93 billion, indicating liquidity is still ample.

Altcoin Performance Diverges, Some Coins Show Remarkable Gains

In the altcoin sector, PENGU AI (PENGU) has attracted attention. Real-time data shows PENGU is trading at $0.01, with a 24-hour decline of -1.55%. It has experienced significant volatility previously, so investors should remain cautious.

Additionally, some other altcoins have recorded notable gains during specific periods, but these increases are often accompanied by high volatility and risks. Market participants should approach with rationality.

DeFi Ecosystem Under Pressure, NFT Sales Drop Significantly

In the DeFi sector, total value locked (TVL) shows a downward trend. Aave, as a leading DeFi project, is currently priced at $164.48, with a 24-hour decrease of -1.07%, reflecting adjustment pressures in this sector.

On the other hand, the NFT market is performing even weaker, with sales dropping 36.12% from previous levels to $7,976,450. The top-selling NFT series, Courtyard, also declined by 15.07%, now valued at $588,638. This indicates a recent decline in NFT market demand.

Market Outlook: Beware of Fraud Risks, Focus on Policy Developments

Overall, the crypto market is facing multiple challenges. On one hand, frequent exposure of scams within the industry and the reward initiatives by major exchanges aim to purify the market environment; on the other hand, regulatory enforcement is intensifying. Investors should enhance their risk awareness. Given the cautious market sentiment, volatility may persist in the short term.