The global cryptocurrency market has shown a complex mix of resilience and caution, climbing to a total market capitalization of $2.42 trillion after a 2.51% increase over the past 24 hours. Despite the Crypto Fear & Greed Index signaling extreme fear at 13 points, investor interest appears undeterred, with daily trading volumes jumping 8.01% to $97.26 billion. Bitcoin, the leading digital asset, surged past the $70,000 mark, trading at $70,322.81 and gaining 2.12%, while maintaining a market dominance of 58.2%. Ethereum followed with a steady 1.63% increase, trading at $2,088.29, reflecting continued confidence in the broader altcoin ecosystem.
The crypto gainers of the day are dominated by smaller, high-volatility tokens, with TURBO BOME ($TURBO) skyrocketing 5471% to $0.00001254, Purple Frog ($PF) climbing 1791% to $0.0004487, and PENGU AI ($PENGU) rising 1308% to $0.00009607. These dramatic movements highlight the speculative interest in emerging projects alongside established digital assets, emphasizing the need for careful risk assessment among traders.
In decentralized finance, total value locked (TVL) rose modestly by 0.44% to $97.681 billion, signaling steady engagement in DeFi protocols. While Aave experienced a minor decline of 0.86% to $27.58 billion, Brise Swap emerged as a standout, recording an extraordinary 3.49 quintillion percent 1-day TVL increase—a figure that underscores the volatility and opportunity present in smaller, fast-moving platforms. Meanwhile, the NFT sector continues to struggle, with sales volume plunging 59.83% to $7,095,996, and top collections like Flying Tulip PUT seeing significant declines, highlighting ongoing challenges in sustaining the digital collectibles market.
On the global front, SpaceX received approval from the Vietnamese government to deploy its Starlink satellite internet service, signaling increasing adoption of crypto-friendly and tech-driven infrastructure. Polkadot’s new liquidity protocol, Hydration, faced a wave of unfollows among key influencers on X, indicating shifting sentiment in the social media landscape. Additionally, MultiBank is preparing to unlock up to 25 million tokens on February 22, a development that could influence market dynamics and liquidity in the coming weeks.
For investors and market watchers, these trends illustrate the current duality in crypto markets: established assets like Bitcoin and Ethereum offer relative stability, while smaller tokens and DeFi projects present both extreme opportunities and risks. The divergence between DeFi growth and NFT market contraction emphasizes the selective nature of capital flow in 2026, while global tech and regulatory developments continue to shape the sector’s long-term trajectory. Looking ahead, traders should monitor sentiment indicators, token unlock events, and emerging regulatory frameworks, as these factors will likely dictate the next phase of market evolution and innovation.
