Bitcoin Rises For Seventh Straight Day, Terra Leads The Gains

Cryptocurrency market is once again in the green on Tuesday (March 29, 2022) and the market mood remains buoyant as the largest token by m-cap-Bitcoin rises for the seventh straight day, up 0.91% at $47,432. The potential Russia-Ukraine peace talks also boosted the sentiment.

On Monday, bitcoin hit a 3-month high, crossing $47K. In the views of Raj Karkara, COO, ZebPay "Bitcoin hitting its 3-month high, signals an expected and much awaited market recovery. With a number of countries indicating plans for positive regulation around crypto, investor sentiment seems to be surging, resulting in some of the highest 24 hour trading volumes we've seen in the last quarter. Many experts consider this to be the beginning of a strong bull market, however, time will tell to what extent they are right.

Most of the top tokens as compiled by Coindesk which roughly constitute 99% of the market by volume at eight of the largest and most trustworthy exchanges were trading higher, with Terra leading the gains by over 7%. Nevertheless, stablecoins such as Tether and USD Coin plus other digital tokens namely Polkadot, Dogecoin, Polygon and Chainlink were all trading with marginal losses.

As per Coinmarketcap.com, global crypto market cap as well as volume both have registered gains over the previous day with global crypto m-cap now at $2.15 trillion (1:18 pm IST).