Top cryptocurrency prices today: Bitcoin, Ethereum, Cardano, Avalanche zoom up to 10%

economictimes.indiatimes.com:

Bitcoin scaling $31,000 mark again. Other major tokens followed suit. The gains in crypto cart were due to the introduction of a federal cryptocurrency bill that would address a number of major regulatory questions dogging the industry. Barring the stablecoin USD Coin, majority of the tokens were trading higher on Wednesday. Cardano rallied more than 10 per cent, whereas Avalanche jumped 6 per cent. Bitcoin, Ethereum and XRP gained 5 per cent each. The global cryptocurrency market cap was trading sharply lower at the $1.26 trillion mark, rallying more than 4 per cent in the last 24 hours. However, the total cryptocurrency trading volume zoomed about 4 per cent to $84.4 billion.

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Expert takeCharles Tan, Chief Marketing Officer, Atato, a crypto custodian wallet, as saying that the overall sentiment in the crypto market is on the positive side, even as Bitcoin dipped below the $30,000 mark before reclaiming the $31,000 level. «The crypto market requires some relief which may come from the inflation cooling off and the Fed relaxing the monetary policy and interest rates. It is important to note that the US will release a consumer price index on coming Friday,» he added. MoneyGram is collaborating with Stellar Development Foundation to launch a service that will allow users to seamlessly send and convert stablecoins into fiat, said WazirX Trade Desk. «Users with Stellar network wallets will be able to convert their crypto into Circle's USD Coin once the service is launched (USDC). They can then withdraw the stablecoin via the MoneyGram network,»