Crypto Rebound to Over $2T Market Cap Amid Global Market Shocks

Crypto market capitalization

Crypto market capitalization has jumped to more than $2 trillion, the highest level since the start of the month, coming from the Russian aggression in Ukraine and tighter monetary policies.  

Cardano’s native token ADA recorded the most gain of about 7% in the past day, trailed by DOT, which is up 6.5% in the same period.

Bitcoin has gained 4% in the past day to trade at $42,900, still below the $44,500 resistance zone, tested about four times in the year.

Ether is trading around $3K amid the much-anticipated merger with Beacon Chain to finalize the network transition to the proof-of-stake consensus.

Polkadot’s DOT is up 6.5% in the same period, while XRP and Solana have both recorded gains of about 5%.

The surge comes as the US Federal Reserve Chair Jerome Powell says that inflation could remain elevated and that the central bank was open to hiking interest rates.

Source: Coindesk

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