The global cryptocurrency market rebound on July 5, giving investors some respite. However, traders are still wary of further rally due to recession fears.
Bitcoin, the flagship currency, rose even more in Tuesday trading along with various other major altcoins as investors seemed more receptive to risk.
The world's largest cryptocurrency, was trading at $20,337, up nearly 6.17 percent. The token plummeted below $19,000 at one point last week before regaining ground during a Friday rally. On Thursday, it closed out one of its worst quarters on record, giving up 60% in the April-June stretch.
Ether, the second largest token in terms of market capitalization, rose by 10.35 percent to 1,162 over the previous day, according to Coindesk data at 12:13 IST.
Other popular digital tokens, which tend to move in tandem with bitcoin, also rose. Shiba Inu, the second-largest meme coin, gained almost 1.11 percent to $0.000010 whereas the most followed meme coin Dogecoin rose as much as 0.78 percent to $0.067656.
The global cryptocurrency market cap increased to 5.73 percent to $916.81 billion in the last 24 hours. However, the total cryptocurrency trading volume increased 54.49 percent to $58.35 billion. Out of a total market cap, bitcoin's dominance is 42.36 percent, an increase of 0.71 percent over the day, as per CoinMarketCap data at 12:24 IST.
Menwhile, crypto lending platform Vauld on Monday suspended all withdrawals, trading and deposits on its platform citing volatile market conditions and financial difficulties of its key business partners. This announcement comes within two weeks of reducing its headcount by about 30%. Headquartered in Singapore, with a product and tech office in India, the crypto platform was started in 2018.