CoinMarketCap (CMC) data shows that the global cryptocurrency market cap saw a sharp fall from the $1.113 trillion mark to a local bottom of $1.08 trillion on June 5, when the negative news emerged.
However, the industry witnessed a remarkable recovery over the past 24 hours. The total market cap rose to $1.123 trillion, an almost 3% global rise, per CMC. On the other hand, the 24-hour trading volume fell from the $50 billion mark on June 6 to around $46.6 billion at the time of writing.
Moreover, bitcoin (BTC) and ethereum (ETH) surged by 4% and 3.2%, respectively. With the current hike, BTC could get close to the crucial $27,000 mark with its current price of $26,820. ETH, quite similarly, rose from $1,805 to $1,875 at the time of writing.
Pepe (PEPE) has topped the list with 15% gains in the past 24 hours. The meme coin has finally registered a significant win after three weeks of consecutive losses as the meme coin craze ended. PEPE is trading at $0.0000011 with a market capitalization of $452 million at the time of writing.
On the other hand, CNBC’s Mad Money host Jim Crammer advised investors to “get out” of crypto “while you can.” While Crammer mentioned a possible rise in scams, the crypto community answered with more investments, returning the global market cap to the $1.12 trillion mark.