Encryption two of the largest player in the currency, COINS and etheric fang created a mild recovery in the past few days, help drive encryption currency back to the overall value of the $1 trillion mark, although only a short, at the time of this writing, the market from this milestone is $40 billion, but the vast majority of digital assets have experienced rise over the past seven days.
The past few weeks have not been kind to cryptocurrency investors. In May, bitcoin crashed to its lowest level since 2020, wiping $1 trillion from the market, before lending platform Celsius froze withdrawals due to "extreme market conditions."
Bitcoin is currently trading at $21,407, while Ethereum, which hovered around $880 on June 18, has surged to $1,227, but those numbers are still about 30 percent below where they were at the start of the month and a fraction of where they were in November, But investors will be happy to see the number one and number two cryptocurrencies move in the direction they want.
Looking at the top 100 cryptocurrencies, the trend over the past seven days is similar. Most are up, and Dogecoin is up nearly 30% from a week ago, a boost that may have gotten a boost from Elon Musk saying he continues to support and buy, despite a $258 billion lawsuit filed by investors against him and his company.
Coinmarketcap's global cryptocurrency marketcap is still below $1 trillion, or $960 billion, but that could change again if the uptrend continues.
The collapse of TerraUSD and support coin Luna, along with rising inflation, contributed to the recent drop in cryptocurrency prices. Whether they weather the storm and continue to rise, or whether this is just a dead cat jump before falling again, no one knows.