Although the total crypto market cap fell by around $230 billion in the last week, it did manage to recover around $76 billion. This comes as most cryptocurrency traders have looked for a reprieve from bearish conditions in the market as BTC recovered to a sum of $34,880.
This led to a rally in altcoins with the hope that a far wider market recovery would be on the horizon soon. Currently, the entire market cap for cryptocurrency stands at $1.365 trillion with most traders looking at this correction as nothing more than an opportunity for dip-buying.
The market cap for Bitcoin went on to fall by $68 billion which was roughly 11% of the total value on the 22nd of June but it did manage to recover all the losses and stands higher now before the flash crash yesterday.
Currently, Bitcoin stands at $630 billion. As stated by CL, a pseudonymous trader on social media there is further cause for a far more optimistic structure as there have been surges in open interest throughout the Crypto Market and Binance.
Altcoins Rack Up Double-Digit Gains In The Crypto Market
BTC’s bounce through the myriad highs and lows in the market value did help other altcoins while data from Cointelegraph Markets Pro does show a certain majority for the tokens to be green.
Data from TradingView highlight that the biggest gainer in the entire debacle at the Crypto Market has been Cybervein, which saw its price surge to around 112% at one point on the 24-hour chart ever since it pulled back to a limit of $0.0187- which represents a gain of around 62% since the 22nd of June.
Other notable performers in the crypto market include VeThor and Flow, which included a gain of 25% with Dogecoin gaining around 20%.
