New Delhi: The cryptocurrency market was trading higher on Tuesday on the back of strong volumes. Short term holders have made decent gains lately as the largest crypto token has zoomed more than 12 per cent since Friday.
In the broader cryptocurrency market, prices of most tokens also rallied. Altcoins have outperformed behemoths over past trading sessions.
Barring the dollar-pegged USD Coin, all other nine out of the top-10 digital tokens were trading with decent gains on Tuesday. Bitcoin rose to a four-week high, climbing for consecutive sessions lately, driven in part by the liquidation of some short positions that have accumulated in the virtual currency’s recent three-month downtrend.
XRP zoomed 20 per cent, whereas Shiba Inu rallied 15 per cent.
The global crypto market cap jumped about 3 per cent to once again scale the $2.01 trillion mark. Furthermore, the total crypto market volume zoomed about 45 per cent to $94.98 billion.
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