Bitcoin and Ethereum saw a strong recovery on Tuesday as the cryptocurrency market rebounded from recent losses. Market data revealed that the total value of all cryptocurrencies increased by 6.35% in just one day, reaching a total market capitalization of $3.26 trillion.
Bitcoin, the largest cryptocurrency by market value, rose by 4% in the last 24 hours to hit $100,072. Meanwhile, Ethereum, the second-largest cryptocurrency, recorded an even bigger gain of 7.77%, pushing its price to $2,826.
This comes after Bitcoin had dropped to a low of $91,441 on Monday night. Similarly, Ethereum had suffered a sharp decline, losing nearly 25% of its value since Friday.
In global economic news, U.S. President Donald Trump imposed tariffs of 25% on imports from Mexico and most Canadian goods, along with a 10% tariff on Chinese imports. While China retaliated, Canada and Mexico agreed to negotiate, which delayed the implementation of increased tariffs.
Trump’s personal cryptocurrency saw a significant drop, falling below $20 on Monday amid financial market turbulence. The coin, launched before his inauguration, once traded above $73.
The total trading volume in the cryptocurrency market over the past 24 hours stood at $224.48 billion, representing a 33.47% decline. DeFi (Decentralized Finance) transactions accounted for $14.68 billion, or 6.54% of the total market volume.
According to CoinMarketCap data, stablecoins, which are digital assets designed to maintain a stable value, had a total trading volume of $209.43 billion, making up 93.29% of all crypto transactions.
The broader digital asset market showed mixed performance late Monday. The CoinDesk Market Index, which tracks 124 digital assets, climbed 1.6% in 24 hours. However, traditional stock markets like the Nasdaq 100 and S&P 500 each dropped by 0.4%, while the Dow Jones Industrial Average declined by 0.1%.
Among other major cryptocurrencies, Ethereum (ETH) declined by 8% to $2,713, while XRP gained 1.5%. Solana (SOL) rose by 4%, but Binance Coin (BNB) fell by 3%. Dogecoin (DOGE) gained 0.8%, whereas Cardano (ADA) dropped 3%.
