Top cryptocurrency prices today: Dogecoin, Ethereum, Terra rally up to 20%; Bitcoin above $40,500

economictimes.indiatimes.com:

Barring the dollar-pegged Tether, all major crypto tokens were trading higher during the early hours on Tuesday. Dogecoin zoomed 20 per cent. Terra rallied 8 per cent, whereas Ethereum was up by 5 per cent.Bitcoin and Ethereum recovered back in the past 24 hours. Seems like the short-term Bitcoin buyers have returned around the support level, said Edul Patel, CEO and Co-founder of Mudrex.

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«At the same time, most cryptocurrencies have also gained decently, stabilizing after dipping. We could see range-bound trading in the coming few days,» he added. The global cryptocurrency market cap was trading at $1.86 trillion, up over 3 per cent in the last 24 hours. However, the total cryptocurrency trading volume zoomed about 43 per cent to $97.88 billion.Expert takeFollowing hawkish remarks from US Fed Chair Jerome Powell last week, cryptocurrency prices have closely followed traditional markets, which have sold off in preparation for potentially tighter monetary policies, said OKX insights team. «Fed representatives will meet in early May to make a decision on another rate hike, which could spell additional doom in risk assets,» he added.Global updatesTwitter has accepted a $54.20-a-share buyout offer from Tesla CEO Elon Musk, valuing the social media company at about $44 billion in cash. Once the deal is completed, Twitter will become a privately held company. Crypto exchange Kraken has received a Financial Services Permission (FSP) license from the Abu Dhabi Global Market (ADGM) to operate a regulated exchange platform in the United Arab Emirates (UAE).Tech View by Giottus Crypto ExchangeBitcoin (BTC) has set itself up for interesting price action this