The global cryptocurrency market gains 3% in 24 hours to stand at $2.28 trillion. On the other side, the total crypto market volume increased by 33% to $147.85 billion.
Top virtual currencies traded with mixed actions on Thursday as positive bias appeared to dominate. The leading asset, Bitcoin, extended its upswing, standing 25% high in the last seven days. Such moves came after BTC seemed to recover from the Chinese regulations.
Also, the top ten assets recorded mixed prices, half of the cryptos staying in red early today. Bitcoin gained more than 6%, while Dogecoin and Solana lost up to 5%. Meanwhile, the total market cap hovers at $2.28 trillion after surging 3% in 24 hours. Nevertheless, the global crypto market volume rose by 33% to $147.85 billion.
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Bitcoin recorded impressive moves yesterday to reclaim its 1 trillion market cap. ZebPay Trade Desk stated that the recent rally sparked confidence among BTC enthusiasts as the assets prove stable as far as long-term projection is concerned.
The improved market sentiment had BTC touching a 5-month peak past $55,000. That came as SEC Chair Gary Gensler confirmed that the United States has no plans to prohibit cryptocurrency activities. Such claims further boosted confidence by market players.
The meme market followed with uptrends. Shiba Inu experienced a 216% rise, claiming the 15th spot by market value. That way, SHIB appears to amplify its rivalry against Dogecoin, the leading meme cryptocurrency.
On the other hand, CoinSwitch Kuber raised more than $1.9 billion in valuations. That made it the most valuable cryptocurrency firm in India, with its over 10 million users. The top equity players in the CoinSwitch funding are Ribbit Capital, Coinbase Ventures, Tiger Global, and Andreessen.
Tech View
Polygon (MATIC) has been among the outperforming assets in 2021, surging from $0.02 in January to above $2.5 in May. The alt has respected technical levels during its current price actions. MATIC bounced off the. 66 FIB retracement at $1.01 before rising to meet resistance at $1.34.
As Bitcoin rallies towards $60,000, altcoins, including Polygon, might overcome its obstacles to attain new highs.
