A good news for cryptocurrency enthusiasts in last 24 hours had given smile to many cryptocurrency enthusiasts as bitcoin is rose by approximately 6 percent and other cryptocurrencies like ethereum, bitcoin cash, ripple rose around 4 percent.
With many weeks cryptocurrencies plunging in price and investors losing confidence in the market but last 24 hours changes the mood of investors a lot as it seen in the market that in past 24 hours cryptocurrency market gained approx. $20 billion.
Changpeng Zhao, the founder, and CEO at Binance biggest cryptocurrency exchange noted and demonstrated that volume of cryptocurrency increasing which signals that there is an increase in demand of cryptocurrencies in the market now.
Zhao stated, “good to see volumes are returning across the board,” volume is increasing and signaling a good scope in near after a low in starting of the month as the price of bitcoin dropped to the $7,000 region earlier this month.
Among the cryptocurrencies shown good performance, Storm an Ethereum-based blockchain platform performed the best and incentivizes its most, as it increased by around 170 percent. With a $2.3 billion trading volume Storm remains as the second most liquid cryptocurrency in the global market behind bitcoin.
Storm traded mostly in Upbit which is south korea’s second and worlds fifth largest cryptocurrency exchange .
Negative media saying it takes nearly two to three months to recover the cryptocurrency market especially in south kore and positive movers like Twitter CEO Jack Dorsey, billionaire investor Alan Howard, Peter Thiel expecting the recovery of market swiftly now.
