Crypto Market Shrinks to $2.3 Trillion as DeFi Surges 9.8%

The global cryptocurrency market saw a decline of 1.3% to $2.3 trillion in the last 24 hours, according to Coin Gabbar's latest update.

Bitcoin (BTC) and Ethereum (ETH), considered less volatile historically but still risky, both dropped in value - BTC by 1.4% to $65,961.68 and ETH by 3% to $1,871.42.

The DeFi market, however, surged 9.8%, reaching a market cap of $63.4 billion with trading volume at $3.31 billion, while the Stablecoin Market saw a 0.1% negative change over the past day.

Cathie Wood's ARK Invest made notable transactions, purchasing Tesla shares worth $51.2 million and Circle shares worth $8.09 million, while offloading Figma and Robinhood holdings valued at $19.52 million and $4.12 million respectively.