When FTX, one of the top cryptocurrency exchanges, went down, the entire crypto market tanked. Yesterday, however, we were able to see some fruitful outcomes, as major cryptocurrencies like as Ether and Bitcoin left the red zone. On Wednesday, the coins all traded up, a positive indication for the cryptocurrency market.
Recent Released: Is It True! Bitcoin Price Dump Imminent?
Recovery of the Cryptocurrency Market and Why
After the FTX collapse sent shockwaves through the cryptocurrency market, the current upbeat sentiment could be a sign that the market is beginning to rebound. The holiday weekend for crypto traders did not conclude on a happy note. A lot of attention from financiers will be paid to tomorrow’s Black Friday sales. There will be ups and downs in the crypto market as a result of supply and demand.
Bitcoin gained 0.85% and Ethereum gained 4.09%. With an increase of over 45 percent, Curve DAO saw the greatest success. Capitalization across all markets rose by 5.9 percent to $838.5 billion. The total value of all cryptocurrencies on the market fell 2.3%, to $65.2 billion.
Below are the top five performing cryptocurrencies: 1. Bitcoin gained 0.85%.
Bitcoin, the first decentralised cryptocurrency, was released to the public in an anonymous transaction in 2008. Bitcoin cannot be controlled by any government or central bank. It’s not actual cash but works like cash in online transactions. Since its inception, Bitcoin’s popularity has skyrocketed. The market value of Bitcoin (BTC) increased by $320 million in the last 24 hours, or 0.85%. In the past, one token cost $16,695. It started the day trading at $15,698, and at the end of the day it had risen by 3.9%.
9% growth for Ethereum
In the last day, Ethereum’s market cap climbed by $4.09 billion, thanks to a 4.9 percent increase in trading activity. At last check, the token price was $1209.87. In 2015, the Ethereum network was introduced. This is a blockchain-powered distributed computing platform. Its own cryptocurrency, ETH, is widely used and can be used by anybody in safe digital transactions.
Solana gained 10.91 percent.
With a total gain of 10.91 percent, Solana’s market value reached $5.397.1 million. Every single token can be purchased for $14.50. The San Francisco-based Solana Labs created the Solana blockchain technology. Compared to Ethereum, it offers faster transaction times and lower transaction fees.
23% growth for the Curve DAO token
The Curve DAO utility token is used on the Curve.fi DEFI platform, which facilitates the trading of ERC-20 tokens and stablecoins. This token is totally non-custodial, meaning that its users retain all authority. Following an increase of 6.23 percent, CRV’s market worth reached $363.7 billion. A token will set you back $0.68 to buy.
The percentage of snowfall from avalanches rose by 3.01%
The Avalanche token has gained nearly 3%, rising to $13.13. The total value of the market was $3.972 billion. Reportedly, the maximum number of transactions that may be processed per second on the Avalanche blockchain is 4,500. A cryptocurrency and blockchain platform that competes strongly with Ethereum.
As the cryptocurrency market begins to show signs of improvement, coin prices are likely to rise again. Predicting whether or not the crypto market has fully recovered from FTX’s effects is premature, though.
Source: Google Trend