New Delhi: Crypto markets made a quick recovery on Tuesday as peace talks between Russia and Ukraine supported the sentiment. Traders awaited the US Fed’s upcoming monetary policy meeting, which kicks off today. Many are wary of a deeper selloff if Fed gives a clear path for interest rate hikes.
Barring the dollar-pegged stable coins, all of the top digital tokens were trading higher. Terra gained more than 6 per cent, followed by a 3 per cent rise in Bitcoin. Avalanche and Dogecoin added 2 per cent each.
The global cryptocurrency market cap today dropped lower to $1.73 trillion, jumping about 2 per cent in the last 24 hours. Total cryptocurrency trading volume zoomed as much as 20 per cent to $74.69 billion.
Global investors are scooping up stakes in cryptocurrency funds and companies as they seek exposure to a sector many believe could withstand the fallout from the Russia-Ukraine conflict.
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