Crypto markets rebounded quickly on Tuesday, boosted by news of peace talks between Russia and Ukraine. Traders were looking forward to the US Federal Reserve's monetary policy meeting, which begins today. Many investors are concerned that if the Fed provides a clear path for interest rate hikes, the market would fall even farther.
All of the top digital tokens were trading upward, with the exception of the dollar-pegged stable currencies. Terra increased by more than 6 percent, followed by a 3 percent increase in Bitcoin. Avalanche and Dogecoin both increased by 2 percent.
The worldwide cryptocurrency market cap fell to USD1.73 trillion today, after increasing by around 2 percent in the previous 24 hours. The total cryptocurrency trading volume increased by 20 percent to USD74.69 billion.
Global investors are buying cryptocurrency funds and firms in order to gain exposure to a sector that many feel can weather the consequences from the Russia-Ukraine crisis.