Todays Top Crypto Prices – May 25
Cryptocurrencies bounced with recovery on Tuesday, after losses due to the weekend selloff fueled by Chinese clampdown on the virtual markets. Bitcoin, the leading crypto coin, staged a come-back from its weekend declines.
Keep in mind that the crypto space lost around $830 billion over the last week. That sparked the interests of policymakers to respond to the cryptocurrencies’ volatility and popularity. Despite Tuesday’s recovery, the digital assets are 40% off their current record highs.
The reason behind the Sunday selloff was crypto miners ceasing their Chinese activities due to stiff regulations. Keep in mind that cryptocurrency miners use high-end computers to mint digital currencies. China attacked the crypto coins, stating that they cannot serve as real money since they are virtual assets. The statement by China sent the BTC market plummeting for days. Other cryptocurrencies were not an exemption either.
Bitcoin indicated an upward trend, increasing by 7.5% to around $37,600 in the past day. However, despite the increase, BTC remains 40% down from its highest value registered the previous month.
Ethereum, the leading altcoin, increased by 19% to $2,491. That was after decreasing by over 8% on Sunday. Ether is still down by almost half after reaching its pick in early May.
Mudrex executive and Co-founder Edul Patel stated that the crypto industry has recovered from the drastic losses, the overall market cap increasing by 10%. That indicates increased buying, which supports BTC and other cryptocurrencies. Also, with the recovery, investors can expect consolidation. Also, the executive said most digital coins would recover, BTC having the potential to break the $45k barrier.
The digital market has had insane volatility over the last two weeks. Besides BTC, most virtual coins witnessed price regain after the market crash last week. For instance, Market (MKR) and Polygon (MATIC) almost folded in price since Monday morning. The two altcoins gained more than 100% as the crypto market stages recovery.
According to CoinMarketCap, here are some of the prices of the popular digital coin as of May 25:
BTC: 9.12 % increase, to $38,347.15
ETH: 21.49% up, to $2,601.79
BNC: 23.79% increase, to $340.06
IC: 0.76% up, to $143.38
ADA: 12.17 increase, to $1.53
DOGE: 13% up, to $0.3463
USD Coin: 0.1% decline, to $1.00
DOT: 18.74 increase, to $21.59
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