The last 24 hours have been filled with a lot of bullish actions. The crypto market saw significant gain during the last 24 hours as the once below $1.5 trillion market is now worth more than $1.5 trillion.
However, fear and uncertainty seem to play out in the background as the readings on the fear and greed index are 10; showing extreme fear rocking the market as if at the time of writing. Coinfomania reported in one analysis last week that FUD may no longer have strong effects on traders and that is playing out this week.
Following the massive price collection that rocked the crypto market last week, a reversal is underway. Leading this recovery is Nexo, as the 84th coin by market cap gained more than 48% in the last 24 hours.
In the most recent weekly outlook on Coinfomania, the analyst pointed out that the Binance coin may see increased interest in the new that may propel prices above $300. BNB is the top gainer in the top 10 as it gained 33% in the last 24 hours.
The King coin is not left out from the price rallies as it also gained more than 14% in the last 24 hours with the second-largest coin by market cap surging as high as 25% during this time.
China, cracking down bitcoin mining and concerns over energy consumption may not cause as much FUD as before as the last 24 hours, saw more good news than the bad. One such news is bitcoin miner Marathon plans to install 73,000 mining equipment in Texas. More reports are also circulating following the appointment of a bitcoin mining council.
The good news is one of the major contributors to the price hike the crypto market has experienced in the last 24 hours. Some coins in the top 100 are still in a dip like Aaves and Shiba Inu. The next few days may see these coins recovered from the dip like the rest.
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