Cryptocurrency markets have recovered this Wednesday morning . The global market cap is at $960.80 billion as of 8:00 AM IST after rising 2.56 per cent, CoinMarketCap data showed.
Bitcoin is up by 2.02 per cent, and is trading at $22,434. Ethereum rose by a mere 0.80 per cent and is trading at $1,218.
The USDT Tether showed 0.00 per cent change in the last 24 hours in its value and is trading at $0.9989, whereas the USDC stablecoin showed 0.01 per cent downtrend in its value and is trading at $1.
The BNB token has gone up by 4.91 per cent.
The BinanceUSD stablecoin is positioned at the place of the seventh most valuable cryptocurrency. It showed 0.12 per cent downtrend and is trading at $1.
XRP Ripple token is 6.32 per cent up from its value in the last 24 hours.
The ADA token showed a massive recovery of 10.54 per cent in the last 24 hours.
Solana recovered by a whopping 17.41 per cent.
The DOT token of the Polkadot blockchain settled at the spot of the tenth most valuable token and is up 9.83 per cent.
Majority top crypto tokens have witnessed a recovery over the last 24 hours.
In other news, European Central Bank’s Fabio Panetta says a digital euro would be limited to a maximum of €1.5T euros.
A bill that would ban crypto as a payment method in Russia has passed the first reading in the parliament.
The Federal Reserve has raised interest rates by 0.75%, the highest increase since 1994. Many experts and industry insiders believe that this will cause an outflow of funds from the crypto markets, because of the volatility and high risk inherent to digital assets like crypto.
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