Crypto market dey fall as DeFi rise 1.81%, Chainlink dey soar
Cryptocurrency market see wide pullback, with Bitcoin and Ethereum leading the decline. Bitcoin drop 1.08% below $117,000, while Ethereum fall 0.35% under $4,400. Despite this overall crypto market fall, DeFi sector rise 1.81%, buck their trend. Chainlink jump 14.32% after dem launch on-chain reserve system and announce strategic partnership with ICE, wey be parent company of New York Stock Exchange. Layer-1 tokens drop 0.37%, even though Cardano rise 1.56%. Layer-2 drop 0.38%, with Polygon (POL) and Arbitrum (ARB) up 5.34% and 7.73%. CeFi drop 0.94%, while LEO token gain 2.29%. Meme coins slide 1.13%, despite MemeCore jump 7.15%. PayFi tokens dey down 2.06%, but Monero rise 4.20%.
Bearish
Di tude e sharp fall wey major cryptocurrencies dey today, with Bitcoin and Ethereum wey no too perform and only DeFi sector wey dey show gain, dey show say bearish feeling dey everywhere for market. If you check history, withdrawals of this size too many time lead to short term consolidation, especially if main assets break key support like Bitcoin wey con fall below $117,000. Even though Chainlink jump up because of strategic ICE collaboration, wey show say institutions dey interested in DeFi, this one alone no fit reverse the whole market momentum sharp sharp. Traders fit still dey face downward pressure short term, but DeFi projects fit still attract money as safer places to put am. For the long run, stronger on-chain reserve mechanisms and institutional partnerships fit help slow slow recovery in DeFi value even if the whole crypto market still dey under pressure.