The cryptocurrency market witnessed a sharp decline recently, marking one of its most intense falls lately. The decline was triggered by speculation of a rising trade war between the US and China, compelling investors to act hastily towards their investments. The speculations ultimately led the market to encounter panic selling, with the market reporting liquidations worth $16,800,000,000 in the last 24 hours. However, the market quickly rebounded as soon as reports clarified a miscommunication between Trump and Xi, allowing cryptocurrency coins to rise higher than ever. Which of the coins are up today? Let’s find out.
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Cryptocurrency Market Crash: What Happened
The cryptocurrency markets are known for their intense volatility and fluctuations. The prime example of this narrative was the recent cryptocurrency market crash that led to massive liquidations taking hold of the market. Bitcoin and Ethereum were the first to nosedive, with BTC slipping below $110,000.
Dubbed as one of the most catastrophic crashes in crypto market history, the crash wiped out nearly $5,500,000,000 from the market.
Trump and Xi Jinping’s brief fallout triggered the aforementioned cryptocurrency crash, propelling trade war speculations to unprecedented heights. It all started when Trump announced a 100% trade tariff on China, with China countering the offensive move by stating how they also possess the power to issue tariffs.
However, soon after the brief collapse, both leaders quickly patched things up, with US-China trade tensions de-escalating bit by bit.
The cryptocurrency market was quick to react to this update, surging high to reclaim most of its lost fortune. Bitcoin and Ethereum were the first to reclaim their former positions, with leading altcoins reporting green signals post this brief market mayhem.
Which Cryptocurrency Coins Are Up Right Now?
The entire cryptocurrency market appears to be recovering, showing positive signs on all fronts. According to the data by CoinMarketCap, Bitcoin is up 2% at $114K, followed by Ethereum up 8% at $4130. Major altcoins like XRP and BNB are also up 8% and 13%, respectively, stable at $2.57 and $1856. Moreover, significant crypto coins such as Solana, ADA, and Doge are also flashing green, up by 8%, 9%, and 11%, respectively.
Leading meme coins such as Shiba Inu and Pepe have also reported gains, worth 6% and 11%, moving towards bigger price pathways in due time.
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