Investors Earn Billions In Crypto Market as Coins Rise
Leading cryptocurrencies were on the rise on Tuesday morning as the crypto market bounced back from last week losses
At the time of this report, the global cryptocurrency market is valued at $2 trillion, up by 4.38%
Investors were initially worried following reports of Tesla selling some of its Bitcoin but Musk claims it was only done to prove the liquidity of the asset
Leading crypto assets experienced strong gains on Tuesday morning as the crypto market went up by 4.38%.
Elon Musk recently took to Twitter to dispel rumors that he was driving the prices of cryptocurrencies so that Tesla can sell them for profits.
The Tesla CEO stated that he hadn’t sold any of his personal Bitcoin and Tesla only sold 10% of its BTC assets to prove its liquidity against cash.
Crypto rise in recent times has been influenced by the acceptance of the assets globally.
Top investment bank, JP Morgan Chase announced that it was offering Bitcoin investment plans for wealthy clients.
At the time of this report, Bitcoin was trading at $54,892, up by 2.54% for the day.
Ethereum is trading at $2565, up by 1.8% in the last 24 hours. Etheruem also has a market cap of $283 billion, 14.47% of the crypto market.
Major cryptocurrencies have recovered strongly from last week’s losses that saw the market loses billions within days.