Except for Avalanche, the other nine out of 10 digital tokens were trading higher at 9.30am IST. Terra expanded by 15 percent, while Cardano 10 percent recovered. Bitcoin it was up 6 percent on Friday.
The global crypto market capitalization jumped around 5 percent to $ 2.38 trillion compared to last day. However, the total volume of the cryptocurrency market rebounded more than 14 percent to $ 102.59 billion.
Expert opinion
"We saw a good rally across the cryptocurrency spectrum after BTC regained the $ 50,000 mark," said Edul Patel, CEO and co-founder of Mudrex.
The largest altcoin Ether also broke the $ 4,000 level, prompting a rally in Altcoins. Volumes traded increased along with the rally, indicating positive momentum in the crypto market, he added.
Global updates
Experts said that meme currencies, central bank digital currency (CBDC), and non-fungible tokens (NFT) were the top three trends in 2021. This year also saw a slew of initial coin offerings, or ICOs.
Silicon Valley is now awash with stories of people making seemingly ridiculous crypto investments. Cryptocurrencies may not be any different from past speculative bubbles like subprime mortgages or the tulip craze of the 17th century, skeptics said.
