(Asian News Hub) – Cryptocurrency prices rebounded and were trading with moderate gains on May 26.
Bitcoin, which comprises about 43 percent of the global crypto market capitalisation, slipped as much as $36,581 over the last 24-hour period but was trading near the day’s high, at the time of writing this copy.
The crypto market has been on a free fall for the last two weeks amid environmental concerns related to bitcoin mining, China’s ban and mixed cues from one of its biggest proponent Elon Musk.
After announcing the suspension of BTC as payments for Tesla citing “rapidly increasing use of fossil fuels for Bitcoin mining” earlier this month, Musk seems to have had a change of heart recently.
Musk tweeted that he had held “promising talks” with North American Bitcoin miners about the sustainability of the digital currency and they looked promising. Bitcoin touched nearly $40,000 following the tweet.
At the time of writing this copy, the global crypto market cap stood at $1.71 trillion, a 4.02 percent increase over the last day. However, the total cryptocurrency market volume saw 14 percent over the last 24 hours.
Further, the volume of all stable coins is now $143.71 billion, which is 79.00 percent of the total crypto market 24-hour volume.
