Skip to content

Crypto market turns green as nearly $70 billion inflows in 24 hours

Crypto market turns green as nearly $70 billion inflows in just 24 hours

Over the past week, the entire cryptocurrency market was caught in a bearish trend, during which its flagship asset had dropped under the $20,000 mark – the lowest since December 2020. 

However, this week the market seems to be recovering, with specifically around $67 billion flowing into the crypto market capitalization in only 24 hours, bringing the total market cap back to $911 billion – up from its lowest point at $844 billion, according to the CoinMarketCap data acquired on June 20.

Total cryptocurrency market cap. Source: CoinMarketCap

Major assets rebounding

Meanwhile, most of the crypto assets are recovering as well, with Bitcoin (BTC) coming back above the $20,000 mark and pushing toward $21,000. By comparison, Bitcoin had crashed below $19,000 on June 18 before rebounding marginally above, as Finbold reported.

Notably, Bitcoin at press time stands at $20,862, a 5.05% gain on the day. However, its current price still represents a 13.15% loss over the previous seven days.

At the same time, Ethereum (ETH) is climbing as well, gaining 9% on the day, although it’s still down 6.62% from seven days ago. It is currently trading at $1,147 – holding on in the green despite the top 100 crypto funds cutting their ETH holdings by 85% on-chain in three months.

Interestingly, Terra Classic (LUNC) is the most trending coin after beginning on a rock path three weeks before, when LUNA 2.0, the platform’s original chain, suffered a significant price correction hours after its launch.

Five most trending cryptos. Source: CoinMarketCap

Rebranded as Terra Classic, LUNC has attracted tremendous interest among crypto traders. It is currently trading at $0.00005955, gaining 6.72% on the day, albeit still 0.81% lower than seven days before, as per CoinMarketCap information.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. 

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Read Next:

Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Sign Up

or

By submitting my information, I agree to the Privacy Policy and Terms of Service.

Already have an account?

Services

IMPORTANT NOTICE

Finbold is a news and information website. This Site may contain sponsored content, advertisements, and third-party materials, for which Finbold expressly disclaims any liability.

RISK WARNING: Cryptocurrencies are high-risk investments and you should not expect to be protected if something goes wrong. Don’t invest unless you’re prepared to lose all the money you invest. (Click here to learn more about cryptocurrency risks.)

By accessing this Site, you acknowledge that you understand these risks and that Finbold bears no responsibility for any losses, damages, or consequences resulting from your use of the Site or reliance on its content. Click here to learn more.