Cryptocurrencies Rebound Slightly, Bitcoin Trades at $30,000

Cryptocurrencies Rebound Slightly, Bitcoin Trades at $30,000

Having inched upward 1.6% in the last 24 hours, most of the major digital assets were trading in positive territory as of Tuesday late afternoon, along with the recovery seen in equity markets in the United States.

Trading data shows that the market capitalisation of all digital currencies printed at $1.31 trillion amidst a seesaw price movement on cryptos exchange witnessed in the recent time.

Bitcoin (BTCUSD), the largest cryptocurrency by market value, was changing hands at $30,072, up 1% in the past 24 hours, after swinging between a day low of $29,450 and a day high of $30,734, according to data from CoinDesk. Trading volume was at $28.44 billion, down 15%.

The most well-known cryptocurrency is currently down 36% year-to-date, compared with a 14% drop for the S&P 500 index, and a 23% decline for the tech-heavy Nasdaq 100 index. READ: Yield Inched Higher as Investors Sell FGN Bonds

Ethereum (ETHUSD), the second-largest cryptocurrency, was trading at $2,047, up 1.1%, whereas XRP (XRPUSD), the fifth-largest, rose 2.4% to $0.43. Terra (LUNAUSD), which is now almost worthless after reaching a 52-week high of $119.51 on April 5, dropped 11% in the past 24 hours.

Terra’s sister currency, TerraUSD (UST-USD), a stablecoin that is supposed to maintain its peg with the U.S dollar, fell 17% in the past 24 hours to $0.09. The cryptocurrency industry’s total market capitalization reached $1.356 trillion, up 0.8% in the past 24 hours, according to CoinGecko data. # Cryptocurrencies Rebound Slightly, Bitcoin Trades at $30,000