Crypto Recovery Speeds Up, Market Jumps by $250B, BTC at $22K

• The global crypto market cap is now $1.05T, which is up by 0.72% in the past day.
• After FTX collapsed, FTT, Solana, Serum, Maps, and Oxygen gained traction.
• BTC is currently trading at $22,786 after gaining a growth of 33.4% in the past 14 days.

Seems like the crypto recovery has sped up as the market witnesses a jump of $250 billion. The global crypto market cap is now $1.05 Trillion, which is up by 0.72% in the past day.

After the dramatic collapse of one of the largest crypto exchanges FTX, its native token  FTT, Solana, Serum, Maps, and Oxygen have gained traction. Data reveals that FTT has gone up by 120.1% in the past 30 days. FTT’s jump was fuelled by speculations that administrators see FTX recovering its customers’ funds and thus, might even restart.

Similarly, Solana, which received a lot of support from FTX founder Sam Bankman-Fried(SBF), was also expected to suffer due to the bankruptcy of the crypto exchange. However, Solana did manage to trade at $24.21 after a spike of 5.01% in the past seven days and is among the top 10 cryptos.

Serum which also received patronage from SBF has tripled to 43 US cents in three weeks. SRM is currently trading at 0.413 after witnessing a growth of 158.3% in the past 14 days. As for Maps and Oxygen, both the crypto projects are up by more than 50% in January.

Apart from all these coins, the most popular crypto Bitcoin(BTC) is currently trading at $22,786 after gaining a growth of 33.4% in the past 14 days.

Meanwhile, some Crypto analysts believe that the digital assets’ volatility will get worsened due to weak liquidity as many investors have already called it quits after 2022’s selloff.