New Delhi: Major cryptocurrencies were trading mixed on Wednesday. Bitcoin was down slightly but other digital tokens gained as much as 54 per cent thanks to renewed interest of investors.<\/p>\n

The global crypto market cap rose to $1.88 trillion, about 2 per cent higher compared to the last day. Also, the total crypto market volume remained flat at around $109.50 billion.\n<\/p>\n

“The crypto market is witnessing a strong recovery. Bitcoin crossed the threshold of $45,000 and has been stable at that level for more than a week now. The buying sentiment is very strong for top cryptocurrencies like Ethereum, Litecoin, Cardano<\/a> and Solana as well,” said Sharan Nair, Chief Business Officer, CoinSwitch Kuber.
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Bitcoin rallied over 20% last week as it crossed the $46,000 mark and topped off at $46,450. This is the highest level the asset has been at since the mid-May sell-off. The rally was supported by good volumes and momentum, said analysts.<\/p>\n

The jump in its values has also brought the target of $100,000 in the spotlight again. Traders on social media and analysts have started projecting Bitcoin\u2019s rise to \u201cthe moon\u201d and \u201cinfinity\u201d.\n<\/p>\n

The cryptocurrency is defying criticism over its toll on the environment and is advancing even as regulators around the world are promising tougher crackdowns. China, for one, has taken a number of steps to clamp down on crypto mining, among other things.
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\u201cInvestors would be happy about Bitcoin staying above the $45,600 level and Ether above $3,150. Most of the Altcoins had a similar indecisive momentum. However, the gaming token Axie Infinity shot up more than 58% over the past 2 days. Cardano shot up too after a multi-week channel breakout,\u201d Edul Patel, CEO and co-founder of Mudrex<\/a>, an algorithm-based crypto trading platform.<\/p>\n