A day after showing indications of recovery, the global crypto market valuation has dropped again to USD1.26 trillion. The crypto market cap has been locked in the USD1.24-USD1.31 trillion region for several days, indicating a struggle to break through this barrier.
The global crypto market cap soared to USD1.31 trillion on Monday, up 3.66 percent from the previous day, while other leading crypto prices also saw gains. However, according to CoinMarketCap data as of writing (May 24, 7.30 a.m.), Monday's crypto gains have evaporated over the night.
Over the last 24 hours, the global cryptocurrency market volume grew by 37.22 percent to USD84 billion. The overall volume in DeFi was USD9.62 billion, or 11.46 percent of the total 24-hour volume in the crypto market. The 24-hour volume of stable coins was USD73.70 billion, accounting for 87.74 percent of the total crypto market volume.
Bitcoin's price has dropped below USD30,000 once more, losing nearly 3% in the last 24 hours. Over the course of the day, Bitcoin's dominance as the most valuable crypto asset fell by 0.36 percent to 44.22 percent. In the last seven days, the price of Bitcoin has dropped by 2.44 percent.