Crypto Market Shows Steady Development Amid Trump’s Push for Interest Rate Cuts

The crypto market has seen a stable performance over the past 24 hours. As per the new market statistics, the U.S. President Trump is endeavoring to increase the market sentiment while pushing for interest rate cuts. The market capitalization has surged by 0.14% to reach the $2.79T spot while the Fear & Greed Index stands at 33, showing a slight investor reluctance.

$BTC Surge by 0.38% While $ETH Decline by 1.16%, Influencing Market Dominance

Bitcoin ($BTC) has reportedly surged by 0.38% to touch the $84,715 while its market dominance stands at 60.23%, indicating a 0.25% rise. Contrarily, the leading altcoin Ethereum ($ETH) has plunged by 1.16% to claim the $1,580 spot. Additionally, the market dominance of Ethereum has dipped by 1.42%, reaching 6.83%.

$REEF and $TAO Lead Daily Crypto Gainers

Simultaneously, the popular crypto assets including $REEF and $TAO have taken the top positions among small and large-cap gainers respectively. Over the recent twenty-four hours $REEF recorded a notable 116% upsurge while $TAO gained a 10.8%. Hence, their current prices account for $0.00046 and $254.1 respectively.

DeFi and NFT Sectors Record 0.2% and 6.6% Spike in TVL and Volume Respectively

At the same time, the DeFi and NFT sectors have also seen minor gains. The cumulative TVL of the DeFi market has touched $122B, signifying a 0.2% increase. Unichain has emerged as the top DeFi blockchain in terms of TVL growth with a 59% jump. Along with that, the cumulative volume of the NFT market has touched $3.5M, accounting for a noteworthy 6.6% rise. While Courtyard remains the top NFT collection based on volume at $896M, Rarible has become the latest top collection for volume growth with a 12.7K% spike.

Galaxy Research Presents Validator Voting Mechanism to Minimize Solana Inflation

Keeping in view, Trump’s push for rate cuts has added to the optimism surrounding the crypto sector. Solana ($SOL) is particularly making waves in the market while also drawing attention to inflation. In this respect, the crypto research company Galaxy Research has presented a unique voting mechanism to decrease Solana inflation. Moreover, EigenLayer (an Ethereum-built protocol for restaking) has announced April 17 as the date to commence mainnet slashing to reach feature-complete status.