Crypto Market Recovers, Bitcoin (BTC) Price Hits $105K, Ethereum (ETH) Records 8.97% Increase

The crypto market is currently going through a major recovery spree with huge gains witnessed by the key crypto assets like Bitcoin ($BTC) and Ethereum ($ETH).

The crypto market is currently going through a major recovery spree with huge gains being witnessed by the key crypto assets like Bitcoin ($BTC) and Ethereum ($ETH). The total crypto market cap has touched $3.34T after a 2.17% surge, while the 24-hour trading volume is $142.23B. In addition to this, the crypto Fear & Greed Index shows considerable “greed” at 75 points.

Bitcoin ($BTC) has recently touched the high price level near $105K while its current price is $103,888.57, indicating a 0.35% rise. Additionally, its current market dominance is 61.8%.

Similarly, Ethereum ($ETH) is now changing hands at $2,559.38, showing a price increase of 8.97%. Hence, Ethereum’s market dominance stands at 9.2%.

Prominent crypto gainers of the day include Black Phoenix ($BPX), Book of Meme 3.0 ($BOME), and PEPE MAGA ($MAGA). $BPX has seen a staggering 1593.90% price spike to reach its present price of $1.95.

Apart from that, $BOME accounts for a 913.80% jump to reach the current price of $0.000000004234. Finally, $MAGA’s present price is $0.00002438 after a noteworthy 797.71% rise.

In the DeFi sector, the overall TVL has seen a 4.80% upsurge to touch $118.131B. Among the DeFi projects, AAVE is leading with its TVL reaching $24.593B.

Nonetheless, in daily TVL growth, HipPoWSwap is the top player with a massive 22517654% spike.

On the other hand, the NFT market has witnessed a 22.63% dip in its sales volume that presently accounts for $16,059,263. Among the NFT collections, Courtyard is the one with the largest sales volume of $2,251,670 despite a 16.33% decline.

Overall, the bullish momentum in the crypto sector comes along with the renewed discussions between the U.S. and China to de-escalate their trade war.

Concurrently, the U.S. SEC is planning a roundtable to address asset tokenization on May 12.

Moreover, Ethereum’s recent 53% spike in total value locked indicates that the altseason is ready to begin. These developments are positive and could result in a broader bull rally in the crypto landscape.