Following the declines at the beginning of the week, the cryptocurrency market has returned to growth. The leading cryptocurrency, Bitcoin (BTC), has recorded a value increase of nearly 5% within the last 24 hours and began trading at the price levels of $26,800. According to the data from CoinMarketCap (CMC), the total market value of the cryptocurrency ecosystem has risen to $1.11 trillion levels.
Looming Rise in Cryptocurrency Market
Successive lawsuits filed by the SEC against Binance and Coinbase caused a fresh fall in the cryptocurrency market at the start of the week. However, following these declines, the market has resumed its upward trajectory. Bitcoin (BTC), the leading cryptocurrency, has begun trading at $26,800 price levels after recording a value increase of nearly 5% over the past 24 hours. While the total market value of the cryptocurrency ecosystem reached $1.11 trillion levels according to CMC data, Ethereum (ETH) neared the $1870 price levels following its recent value increases.
Furthermore, volatility in the cryptocurrency market has shown a significant increase compared to last week. According to Coinglass’s latest data, an average of $120 million worth of short and long positions were liquidated in the past 24 hours.
Rise in Popular Altcoin Exceeds 15%
With the resurgence of the cryptocurrency market, there were cryptocurrencies that recorded double-digit value increases during the day. Accelerating its value increases with the market’s rising trend, Stacks (STX) was among the cryptocurrencies leading the rally in the market.
Stacks (STX) began trading at $0.63 price levels after recording a value increase of over 15% within the past 24 hours and became the cryptocurrency with the highest value increases among the top 100 cryptocurrencies in terms of market value, according to CMC data, within the past 24 hours.
