The crypto market is climbing its way back to $2 trillion

Sep 23, 2021

By: BI India Bureau

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The global market has rebounded by 6.50 percent in the last 24 hours

Volumes are still down but the crypto market cap currently stands at $1.97 trillion

Concerns about the Evergrande crisis have temporary have been put on hold

The Chinese government is pumping money into the banking sector to avoid a speculative crash

The impact of comments by US SEC Chairman Gary Gensler seem to be wearing off

He has been pushing for more scrutiny and a crackdown on cryptocurrencies, including stablecoins

Credit: US government

Bitcoin has seen a sharp recovery

It is currently trading at $44,000, up by nearly 5 percent over the day

Ethereum has bounced back to $3,105

The cryptocurrency has gained 7.5 percent since yesterday

Cardano is clocking in double-digits gains

At $2.28, the ‘Ethereum Killer’ is up by 10.60 percent in the last 24 hours

Polkadot and Solana have registered double-digit gains as well

Polkadot is at $31,89, a jump of 16.16 percent since yesterday | Solana is at $149.18, which is an increase of 15.23 percent

Ripple’s XRP token is back up to being worth more than $1

The cryptocurrency has recuperated by 9.08 percent in the last 24 hours to settle at $1.01

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Binance Coin is trading at $379.58

The token which fuels the world’s largest cryptocurrency exchange is up by 7.37 percent since yesterday

Avalanche continues to be the outlier

Its value is now $73.45, which is a jump of over 17 percent in the last 24 hours and 25 percent over the past week

Other altcoins have been doing well as well

This include OriginTral’s TRAC token and cryptocurrency COTI

According to Galaxy Digital CEO Mike Novogratz…

The crypto markets are in good shape as long as Bitcoin stays above $40,000

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The US Federal Reserve is set to announce its forecasts tonight

The rates could determine whether the crypto market continues its rebound or if the bears get a little more leeway

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Disclaimer

These are top cryptocurrencies by volume according to CoinMarketCap | Prices updated as of September 23, 9.30 am IST and may change over the course of the day

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Bitcoin has plunged to $42,000 as the crypto market continues to lose value