Cryptocurrencies are on the rise again, with some stability in sight. About $1.7 trillion of cryptocurrency, the global market capitalization alone has increased by 0.51%.
It seems that the crypto markets are finally starting to recover. Bitcoin was up 1.61%, while Ethereum also showed a slight upward trend in the past 24 hours, rising 0.70%. The price of bitcoin is currently $38,900, and that for Ethereum stands at about $2570 per coin.
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The dollar’s status as the world’s reserve currency has recently been challenged by economic uncertainty in Europe and weak growth forecasts for the Americas. Still, it seems to be holding up well so far. Tether was up 0.02%, while Binance coin BNB posted significant gains rising 4.57%.
The USDC stable coin has made a significant uptrend and is up 0.09%. This move towards stability in the crypto world shows signs of hope for long-term success.
The price of Terra LUNA has crashed but remains stable at around $81.52 with a gain of 2.81% after recovering slightly from Monday morning’s plunge, with the value falling 9%.
XRP, the cryptocurrency that powers the payment system and currency exchange app, showed a slight upward movement. XRP is up 1.95 percent in the past 24 hours.
The Cardano blockchain is often referred to as an Ethereum killer and has seen a slight increase of 0.34% today.
The price of Solana rose by 2.39%. Avalanche also saw an increase of 3.73%.
Top winners and losers of the Crypto Markets
The crypto currency market has seen significant changes in the past week, with Elon Musk’s favorite cryptocurrency, Dogecoin, becoming the 11th largest by value. It overtook Terra USD and took its place as one of the favorite coins on exchanges.
Bitcoin is up 2.75% along with crypto market in green | Source: BTC/USD chart on Tradingview.com
Today, some of the biggest winners were tokens like Kaizen Inu, which rose 552.75%, and ZUM Token, which jumped a whopping 314%. They both experienced crashes of over 75% on Monday, but they still managed to gain less than 100x of what was lost yesterday. Other high-flyers include Magic Ethereum Money, which is up 100 percent. In addition, metaverse PRO has added 100% to its value.
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Tokens such as the Fantasm SM, Spook Inu, Bastille De La Bouje, and Meta Doctor all fell more than 75 percent.
Since last week, donations to Ukraine have slowed down, but that doesn’t mean donations from cryptocurrencies are any less valuable. In fact, they are more common than ever before, with: $59 million value of crypto donated so far.
The conflict between Russia and Ukraine could be the first crypto war since Ukraine has amassed so much digital aid and also because of concerns that Russia will use cryptocurrency to evade sanctions. According to Chainlysis, Ukraine ranks fourth globally when it comes to crypto adoption. The country is currently accepting donations from Bitcoin Ethereum Tether or Dogecoin,
Featured image from Pixabay, chart from Tradingview.com