Crypto Market Update: HYPE Gains 4%, DASH Dips 8%, NIGHT Trends

a16z Asia Office, Fed Rate Cuts & Paxful in Crypto Market Update Today

Overall Crypto Market Update:

• The global cryptocurrency market cap stands at $3.19 trillion, marking a 1.6% decline in the last 24 hours.

• Daily trading volume reached $141.5 billion.

• Bitcoin remains the leader with a 56.8% dominance, while Ethereum holds a 12.3% share.

• A total of 19,206 cryptocurrencies are currently being tracked.

• The largest gainers in the industry are Polkadot and XRP Ledger Ecosystem.

Major Crypto Events Today

Source: Forex Factory

24 Hour Crypto Market Update

Bitcoin (BTC) and Ethereum (ETH) Price:

• Bitcoin is currently priced at $91072, representing a 1.17% fall in the past 24 hours. With $65.4 billion in trading volume and a $1.8 trillion market cap.

• Ethereum trades at $3,271.4, dips 0.62% in the last 24 hours, with a $394.8 billion market cap and $30.9 billion in trading volume.

Top 5 Trending Coins in 24 Hours:

• Yooldo (ESPORTS) trades at $0.4091 with a 1.92% drop and a strong $359.34M trading volume.

• Midnight (NIGHT) is priced at $0.06484, gaining a massive 51% with $343.81M in volume.

• Power Protocol (POWER) sits at $0.1942, down by 12.93%, recording $1.01B in trading volume.

• ULTILAND (ARTX) is at $0.5055, drops slightly by 0.3% and has a volume of $2.92B.

• Terra (LUNA) is trading at $0.1953, with an increase of 36.87%, and a volume of $604.75M.

Top 3 Gainers:

• MemeCore (M) is trading at $1.44, up 7.25%, with a TV of $20.7 million.

• Hyperliquid (HYPE) is priced at $29.08, gaining 3.55%, and has a TV $299.3 million.

• Monero (XMR) stands at $401.33, rising 3.39%, with a TV of $190.7 million.

Top 3 Losers:

• Zcash (ZEC) is priced at $395.60, down 10.03%, with a trading activity of about $861 million.

• Pudgy Penguins (PENGU) trades at $0.01142, losing 9.21%, and recording roughly $221 million in trading volume.

• Dash (DASH) sits at $45.96, falling 8.23%, with an estimated $170 million in trading volume.

Stablecoins and Defi Update:

• The market capitalization of stablecoins is at $313 billion, and the volume of trade is $111.2 billion, which is a positive change of 0.1%.

• The market cap of the DeFi is $114 billion, which has dropped by 3.3% in the past 24 hours, and its trading volume is $6.3 billion. DeFi dominance remains at 3.6%.

Fear and Greed Index Today

Source: Alternative Me

The Fear and Greed Index is 29 today, which is an improvement over 26 yesterday, last week, and last month. The slight increase indicates weak sentiment improvement, probably because of stabilization of prices or decreased selling pressure. Nevertheless, remaining under 30 is also a sign of caution, low purchase confidence, and continued uncertainty.

Latest Cryptocurrency Market News Today, December 11

1. a16z Crypto opens first Asian office in Seoul.

a16z crypto has established its first office in Asia in Seoul, with Sungmo Park as its head, to expand partnerships, founders, and tap into the emerging crypto adoption in Korea, Singapore, and Japan.

2. Gemini Receives CFTC Authorization to trade on new platform.

Gemini has obtained CFTC permission to operate a Designated Contract Market, which allows its Titan platform to participate in the sale of binary event contracts and possibly move into crypto derivatives as U.S. prediction markets increase in activity.

3. Fed Cuts Rate to 3.75% Amid Split Opinions

The Federal Reserve cut its target rate to 3.75%, facing internal disagreements. Officials differed on the size of the cut, while the Fed also began $40 billion monthly T-bill purchases.

4. Eric Trump Says Bitcoin Is Safer to Carry Than Gold

Eric Trump said on the Money Talks podcast that Bitcoin outperforms traditional assets, is borderless, capped at 21 million, and unlike gold, won’t risk jail when carried across countries.

5. Strategy Urges MSCI to Drop Digital Asset Firm Exclusion Plan

Strategy opposed MSCI’s proposal to remove digital asset treasury companies, calling the rules arbitrary, harmful to innovation, and misaligned with policy, urging the index provider to withdraw it.

6. Major Exchanges See Sharp Drop in November Trading

Spot trading volumes fell 28% in November 2025. Bitfinex rose 17%, while Coinbase slipped 8% and KuCoin 17%. Bitget dropped 62%, followed by Gate at 44% and MEXC at 34%.

7. Paxful to Pay $7.5M After Guilty Plea in U.S. Case

Paxful Holdings will plead guilty and pay $7.5 million in fines after U.S. prosecutors said it enabled $3 billion in transactions, including funds to illegal sites, and ignored key compliance rules.

8. New On-Chain Liquidity Fund Introduced by State Street and Galaxy.

In early 2026, the SWEEP fund will be launched on Solana by State Street and Galaxy Asset Management, supported by PYUSD and funded with $200M by Ondo Finance, and subsequently expanded to Stellar and Ethereum.

9. Figure to Mint YLDS Token on Solana Yield-Backed.

The FCC unit will issue the YLDS yield-backed stable-value token on Solana as Figure Technology Solutions, which will have dollar-par security and Treasury-based returns. It will be early adopted in the DeFi platform Exponent Finance.

10. Michael Saylor Compares Bitcoin Limits to Past Tech Restrictions

Michael Saylor said on X that restricting passive index funds from buying Bitcoin is like blocking vital industries such as oil, telecom spectrum, and data centers in earlier eras.

CoinGabbar’s Opinion

The market is also sending mixed signals- Bitcoin and key altcoins are down, but several mid-cap tokens are making good returns. The Fear and Greed Index is still in the Fear stage, and investors need to remain wary. There are opportunities, and volatility is high, and to get involved in it safely, the use of disciplined entries and appropriate risk management is needed.

Disclaimer: This is not financial advice. Please DYOR before investing. CoinGabbar is not responsible for any financial losses.