Crypto Market Back on Green Zone: Avalanche, Solana Zoom up to 16%
Following remarks from the Federal Reserve, the global crypto market has returned to the green zone, indicating that investors’ appetite for risky assets has increased. From the previous day, the total crypto market capitalization has increased by more than 2.30 percent to $2.25 trillion. The whole crypto market volume, on the other hand, grew by more than 25% to $131 trillion.
At 9.30 IST, eight of the ten digital currencies were trading higher due to the prospect of dollar-linked stablecoins. Avalanche increased by 16 percent to enter the top ten tokens, while Solana increased by 11 percent.
In New Delhi, on the other hand, several crypto exchanges are anticipated to combine amid fears and ambiguity over the government’s attempt to regulate crypto assets. Some exchanges have begun exploratory meetings with other Indian exchanges as well as international entities.
Because Bitcoin and other digital assets are immune to any future dollar depreciation, investors have flocked to crypto in the face of uncertainty.
At the same time, Gita Gopinath, the Chief Economist at the International Monetary Fund (IMF), advocated for immediate international action on the matter. She stated, “
Emerging economies should regulate cryptocurrencies instead of banning them.
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