Crypto markets recover slightly after steep decline over weekend – Business Today

Cryptocurrency markets have recovered slightly on Tuesday after crashing over the weekend. The global market cap was up by 0.51 per cent in the last 24 hours, and is at $1.72 trillion as of 8:00 AM IST, CoinMarketCap data showed.

Bitcoin rose by 1.61 per cent, while the ETH token also showed a slight uptrend in the last 24 hours. Ethereum went up by 0.70 per cent. Bitcoin is trading at $38,718 and Ethereum is trading at $2557.

The USDT Tether stable coin went up by 0.02 per cent. The BNB token also showed significant growth. It rose by 4.57 per cent.

The USDC stable coin went up by 0.09 per cent, which is a significant uptrend when it comes to stablecoins.

Terra LUNA recovered only by 2.81 per cent despite crashing over 9 per cent on Monday morning.

XRP Ripple showed slight upward movement and went up by 1.95 per cent.

The ADA token, native to the Cardano blockchain, which is often called as Ethereum killer, showed 0.34 per cent uptrend.

Solana and Avalanche also went up by 2.39 per cent and 3.73 per cent respectively.

crypto graphic 0

Graphic: Pragati Srivastava

Elon Musk’s favorite cryptocurrency, Dogecoin became the 11th largest crypto currency by market cap, dethroning Terra USD. 

It is interesting to note that crypto asset donations to Ukraine have slowed down. Ukraine has received $59.7 million worth of cryptocurrencies.

The biggest gainers of the day were tokens like Kaizen Inu, which went up by an astronomical 552.75 per cent, ZUM token, which went up by a whopping 314.04 per cent despite crashing over 75 percent on Monday. Other tokens which went up by over 100 percent were Magic Ethereum Money and Metaverse PRO.

Furthermore, tokens like the Spook Inu, Bastille De La Bouje, Meta Doctor, and Fantasm SM all fell by over 75 per cent.