Bitcoin hits $24,000; Uniswap & Polygon rise up to 12%

New Delhi: Crypto market continued to rally on Friday as traders believed that the worst over the inflation is now done and the markets will see a quick recovery.

Bitcoin topped the $24,000 level, despite the fact that US GDP contracted more than expected. Risk appetite is roaring back but experts believe that it is too quick to jump to any conclusion.

Barring the US dollar-pegged stablecoins, all other top crypto tokens were trading higher. Uniswap zoomed 12 per cent, whereas Polygon rallied about 9 per cent. Solana jumped 8 per cent and Avalanche added 5 per cent.

The global cryptocurrency market cap was trading sharply higher at the $1.10 trillion mark, rising about 3 per cent in the last 24 hours. However, the total trading volume jumped more than 17 per cent, close to $104.14 billion.

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