The Wider Digital Asset Market Continues to Experience Consolidation

Today, the wider digital asset market continues to experience consolidation. As a result, its broader market capitalization saw a minor increase of 0.28% to $3.24 trillion.

CryptoSlate Top Stories Today, the wider digital asset market continues to experience consolidation. As a result, its broader market capitalization saw a minor increase of 0.28% to $3.24 trillion. Its transaction volume witnessed a slight rise of 2.73% to $99.63 billion. Also, the fear and greed index surged to 50 from yesterday’s 48. This suggests that the market maintains a neutral sentiment, with stable market liquidity and less volatile coin prices.

President of Argentina Javier Milei launched the $LIBRA memecoin. Within two hours, insiders sold over $70M worth of tokens, causing the price to plummet from $4.5 to $0.16.

JMilei later deleted his tweet and distanced himself from the launch, claiming no… pic.twitter.com/3SqHaqP6ia

The broader market witnessed a volatile week, leaving traders uncertain about its short-term movement. The market correction was mainly triggered by macroeconomic concerns, especially economic policies recently signed by the US government.

Today, Bitcoin price consolidates around the $97k. The asset saw a minor increase of 0.62% over the past 24 hours, currently placing its value at $97,633.31. Ethereum also holds its value at $2,714.67, after seeing a slight surge by 0.56%.

Other major tokens have experienced mixed results today. XRP, Dogecoin, and TRON gained up 2.11%, 3.26%, and 0.77% respectively. Others like Solana, BNB, and Cardano are down 2.99%, 1.44%, and 1.59%, in that order.

Bitcoin price consolidates around the $97K mark. Image: CoinGecko

LIBRA meme coinYesterday on Friday, Feb.14, 2025, Argentina President, Javier Milei, launched a meme coin called LIBRA. However, after 2 hours of the token’s trading, insiders liquidated their holdings worth millions of dollars, causing the asset’s price to plunge from $4.5 to $0.16.

President Milei later disowned his association with the meme coin, stating that he has no connection with the project. He, however, admitted that he had not taken adequate time to research the asset before endorsing it. He later deleted his X account to contain a cascading effect.

Top newsToday, significant events that occurred in the broader digital asset market include the following:

Kaito AI, an AI-focused crypto transaction search engine, announced an upcoming launch of its KAITO token. The forthcoming rollout will be accompanied by an airdrop program aiming to introduce the asset to the public and reward early investors.

Also, Tether announced its strategic investment in Juventus Football Club. The move by the USDT stablecoin provider to acquire a minority stake in the Italy-based football club led to a massive price surge of the JUV fan token.

Pump.Fun announced the launch of its mobile app. The mobile application aims to improve user trading experience. It allows users to purchase tokens, create watchlists for free, and manage their portfolios in the platform’s new Android and iOS app.

Lastly, Yuga Labs, the developers of the Bored Ape Club NFT, announced the sale of its Meebits NFT collection to a newly launched firm, Meebit. The sale is part of Yuga Labs’s strategy to reorganize its business priorities.

Top gainersToday’s top gainers are new faces showcasing the dynamic within the digital currency market.

Juventus Fan Token (JUV) emerged as the best performer in today’s market due to its strategic partnership with Tether, as highlighted above. As a result, the token recorded a tremendous 99.4% price rise over the past 24 hours.

AI Arena (NRN) secured the second spot with an incredible 83.6% surge over the same period. It was followed by HOPR (HOPR) with a 74% price uptick. Lastly, Sturdy (STRDY) and AC Milan Fan Token (ACM) closed today’s top gainers list with price increases of 47.3% and 36.25% respectively.