Crypto market recovers $1 trillion capitalization
After weeks of gloomy trade, uncertainty, and volatility, things look suitable for the cryptocurrency market, with total capitalization reclaimed the $1 trillion barrier and continuing to advance.
CoinMarketCap data received on July 18 indicates that the market capitalization of all cryptocurrencies has climbed by 4.39 percent in the previous 24 hours, from $977 billion to $1.02 trillion.
Nearly all of the top 20 digital currencies by market capitalization were trading in the green at the time of publishing, indicating that the whole cryptocurrency market has increased in unison with Bitcoin’s (BTC) price.
This drive, which has resulted in Polygon (MATIC) rising 15.71 percent, Ethereum (ETH) gaining 7.60 percent, and Solana (SOL) gaining 4.99 percent on the day, has also resulted in Bitcoin gaining 4.12 percent and surging far beyond $22,000, the market’s premier asset.
Theta Fuel (TFUEL) was trading at $0.06504 at press time, up 32.74 percent over the previous seven days and 23.45 percent on the day, leading the market gains among the top 100 digital assets this week.
As it happens, the pleasant reprieve has occurred in the middle of a liquidity loss that has been accompanied by mounting market anxiety and panic selling over the last week, all as a result of the rising global inflation and the bankruptcy filings of prominent crypto organisations.
These have included the crypto lending platform Celsius, which halted withdrawals in June owing to the crypto market meltdown and later filed for bankruptcy, as well as the crypto broker Voyager Digital and the crypto hedge fund Three Arrows Capital (3AC).