The crypto market continues to recover for the third day in a row as President Donald Trump softened his rhetoric on China tariffs and said he had no plans to fire Federal Reserve Chair Jerome Powell.
The total crypto market cap rose 4.2% within the last 24 hours to $3.03 trillion on Apr. 23. It is the first time since March 7 that the market cap has exceeded $3 trillion.
Bitcoin, the largest cryptocurrency, even neared the $94,300 price mark, reflecting a rise of 5.6% within 24 hours. The asset was at its highest point since March 3. As per Kraken's price feed , BTC was trading at $93,503.22 at press time.
Ethereum, the second-largest cryptocurrency, managed to hit the $1,800 mark for the first time since Apr. 6. Its price has surged more than 10% within 24 hours. As per Kraken's price feed , ETH was trading at $1,796.91 at press time.
Both XRP and Solana rose 8% within 24 hours to trade at $2.27 and $152.39 at press time.
The leading gainer among the most traded cryptocurrencies was Immutable, which rose 40% to trade at $0.6644. Bonk rose 20% to trade at $0.00001591, and Sui rose 23% to trade at $2.87.
The market cap of meme coins reflected a surprising surge in particular, rising 17% within 24 hours to $58 billion on Apr. 23.
Dogecoin, Shiba Inu, and Pepe surged 11%, 8%, and 12% to trade at $0.1825, $0.00001364, and $0.0 5 9201 at press time.
Official Trump, the meme coin launched by Trump himself, surged more than 9% in 24 hours and was trading at $9.35 at press time. It was still more than 85% lower than its record high.
The consolidation in the crypto market reflects the growing confidence of the traders in the asset class as it recovers from the shockwaves of the tariff escalations.
