Crypto wrap: Market participants coming out of bear phase, experts suggest

Last week, cryptocurrency investors received some respite from the fall in the value of digital tokens. Over the previous seven days, Bitcoin rose nearly 3 per cent, and Ethereum gained 13 per cent, according to coinmarketcap.com. Bitcoin and Ethereum are the largest and the second-largest digital tokens by market cap, respectively.

Market data suggests that the total crypto market cap rose from $1.03 trillion to $1.1 trillion in the last seven days. On Friday, the m-cap was at $1.14 trillion. “The traded volumes continued to witness double-digit gains for the third consecutive day for the cryptocurrency market. Combining this stat with the third consecutive day of gains suggests that market participants are finally coming out of the bear phase,” Edul Patel, CEO and co-founder of Mudrex, told Business Standard.