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NFT Summer Fest'22

The entire cryptocurrency market has been in a bearish trend for the previous week, with its flagship asset dropping below $20,000 for the first time since December 2020.

According to CoinMarketCap data gathered on June 20, the market appears to be recovering, with about $67 billion streaming into the crypto market capitalization in only 24 hours, putting the overall market cap back to $911 billion – up from its lowest point of $844 billion.

cryptocurrency
Total cryptocurrency market cap. Source: CoinMarketCap

The value of major assets is increasing.

Meanwhile, most crypto assets are regaining ground, with Bitcoin (BTC) breaking through the $20,000 barrier and approaching $21,000. Bitcoin, on the other hand, had fallen below $19,000 on June 18 before recovering marginally, according to Finbold.

Bitcoin, for example, is currently trading at $20,862, up 5.05 percent on the day. Its current price, however, reflects a 13.15 percent drop in the preceding seven days.

At the same time, Ethereum (ETH) is on the rise, up 9% on the day, albeit it’s still down 6.62 percent from seven days ago. It is currently selling at $1,147, despite the fact that the top 100 crypto funds have slashed their ETH holdings by 85 percent on-chain in the last three months.

Terra Classic is a popular trend in cryptocurrency market

Terra Classic (LUNC) is the most trending coin, despite having started on a rocky path three weeks ago, when the platform’s original chain, LUNA 2.0, suffered a major price correction hours after its launch.

The cryptocurrency market has turned green, with roughly $70 billion inflows in only 24 hours. EGXhIvT4axrLr5m h1xjMaQTnhCcIUk 15k68Hpu8JTR k1yonF9Gk LmzC | BuyUcoin
Five most trending cryptos. Source: CoinMarketCap

Terra Classic, LUNC’s rebranding, has sparked a lot of attention among crypto traders. According to CoinMarketCap, it is presently trading at $0.00005955, up 6.72 percent on the day but still 0.81 percent lower than seven days ago.

Source: Finbold

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