In brief
We do the research, you get the alpha!
#CoinMarketCap's Heat Map, updated as of May 31st 🔥
Finally seeing some green on the charts! 🟢 pic.twitter.com/gRMXF03Zi4— CoinMarketCap (@CoinMarketCap) May 31, 2022
$62,230.00
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-1.98%$3,144.60
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-2.53%$0.00
-3.63%$0.181825
-4.34%$0.26105
14.32%$39.53
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-3.24%Bitcoin and Ethereum, the top two cryptocurrencies by market capitalization, saw a 5% jump in price in the last 24 hours as the crypto market struggles to recover from the spectacular crash following the collapse of the TerraUSD stablecoin, with Bitcoin briefly reclaiming $32,000 before falling again.
#CoinMarketCap's Heat Map, updated as of May 31st 🔥
Finally seeing some green on the charts! 🟢 pic.twitter.com/gRMXF03Zi4— CoinMarketCap (@CoinMarketCap) May 31, 2022
Currently, Bitcoin is trading at $31,790 per coin, up by $1,090 in the last 24 hours. Today marks a three-week high for Bitcoin; the last time Bitcoin was over $32,000 was May 9, according to data from CoinMarketCap.
The price of Ethereum has seen its price fall below $2,000 several times since May 21. Currently, Ethereum is trading at $1,942, up by $20.50 according to CoinMarketCap.
The price of Ethereum continues to hover just over $1,940 as it readies for “The Merge,” a long-planned blockchain upgrade set for August that will transition Ethereum from a power-hungry proof-of-work system to a more environmentally friendly proof-of-stake mechanism.
Across the board, the cryptocurrency market has been in a slump since March 8, when TerraUSD lost its peg to the U.S. dollar. Despite seeing green today, Bitcoin is down 53% from its all-time high of $68,789 on November 10, and Ethereum is down 60% from its all-time high of $4,891 on November 16.