Bitcoin, the largest crypto by market value, climbed 4.15% to $29,972.89. The cryptocurrency had fallen to a low of $25,401.05 on Thursday, its lowest level since December 28, 2020.
It is still down 17.87% over the past seven sessions.
Ethereum edged up 0.06% to $2,052.95 in the past 24 hours. The second-largest cryptocurrency by market value is still down 25% in the past week.
Tether edged up 0.02% to $0.9971. USD Coin settled at $1, up 0.03%.
BNB advanced 12.80% to $298.04. XRP rose 4.54% to $0.4173. This cryptocurrency has fallen 32% in the past week. Cardano jumped 5.44% but was down 34% for the week.
Binance edged up 0.17% to $1. Solana fell 7.91% to $47.14, taking its weekly drop to 44%. Dogecoin jumped 6.16% to $0.088, after falling 31% in the past week. Polkadot rose 7.4%, Avalanche rose 3.6% while Shibu Inu rose 3.44%.
Terra USD fell 69% in the past 24 hours to $0.1954.
The global cryptocurrency market cap hit the $1.27 trillion mark, up 0.72% in the past 24 hours. That’s less than half of what it was last November. Total cryptocurrency trading volume soared to $2.47 trillion, according to Coinmarketcap.
Unlike previous sell-offs in financial markets, when cryptocurrencies were largely untouched, the latest sell-off pressure from digital currencies has undermined the larger argument that they are reliable stores of value amid market volatility. market, according to a Reuters report.
- US Treasury Secretary Janet Yellen, reacting to the recent sharp decline in the value of cryptocurrencies, said additional federal regulation is needed to address the wave of speculative investment in the currency whose secret is a essential part of its appeal. Earlier, a senior U.S. Securities and Exchange Commission (SEC) official signaled on Thursday that tougher rules regarding stablecoins could be coming closer.
- Tether, the third-largest cryptocurrency by market capitalization, has said the majority of its reserves are in US Treasuries after reducing its exposure to commercial paper over the past six months, its leader said Thursday. chief technology officer Paolo Ardoino in a Twitter Spaces chat. .
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