Solana and Litecoin climb 4%, while Bitcoin increases by 6% to trade beyond $30,000

The largest cryptocurrency, Bitcoin, resumed trading on Tuesday after surpassing $30,000 for the first time since June 10, 2022. The most recent banking turmoil alienated investors, who became more confident in the monetary policies of the US central bank. The emotions and other tokens rose sharply in response to the increase in Bitcoin.

Among the leading crypto tokens, Bitcoin was the biggest gainer, rising more than 6% to surpass the $30,000 threshold. Ethereum, its biggest rival, also increased by more than 3% to reach the $1,900 mark. While trading with significant gains, altcoins lagged behind their more well-known counterparts.

For the first time since June of last year, Bitcoin crossed the $30k mark after trading in a narrow range for around 10 days. As of April 11, the cryptocurrency fear and greed index has risen 6 points from yesterday, reaching 68 and leaning towards greed.

With the Wednesday rollout of the Shapella update, Ethereum’s two-year journey to proof of stake will be complete. The market’s attention is still mostly on the withdrawals of staked ETH. Bullish attitude surrounding ETH staking upgrades, which may draw in new investors for rewards, but some worry that a supply overhang may result from the sale of locked-up ETH.

All of the biggest cryptocurrency tokens were trading considerably higher on Tuesday, not just Bitcoin and Ethereum. Each of Solana, Litecoin, and BNB saw price increases of over 4%. Cardano and Solana each saw price increases of over 3%. XRP, Polygon, and Polkadot all had significant increases.

The market capitalization of all cryptocurrencies was trading considerably higher, at over $1.23 trillion, up more than 4% in the previous day. The entire trade volume, however, increased by more than 50% to $45.02 billion.