New Delhi: After a solid hammering, crypto tokens were back with decent gains on Friday amid volatility in the markets. However, behemoth tokens outperformed other altcoins. Barring the US dollar-pegged coins, all other tokens were trading with decent gains on Friday. BNB and XRP rose 5 per cent each, followed by a 4 per cent gain in Bitcoin and Ethereum.

The global cryptocurrency market cap was trading higher at the $1.28 trillion mark, jumping more than 3 per cent in the last 24 hours. However, the total cryptocurrency trading volume added about a per cent to $82.39 billion.

Expert’s take
Edul Patel Co-Founder & CEO of Mudrex said Bitcoin, Ethereum, and most cryptocurrencies rose after witnessing a steep fall. Bitcoin is currently trading above the $30,000 mark as buyers reacted to the oversold conditions, he added.

Patel said that Bitcoin could face resistance above $33,000, while support lies at $27,000. The upward trend could be limited as momentum still appears to be negative on the charts.

Rising inflationary worries and concerns over global economic slowdown is weighing on the sentiments of riskier assets, including cryptos, said said Kunal Jagdale, Founder, BitsAir Exchange.

“Among the crypto markets, Bitcoin has been able to hover around the $30,000 level, surpassing the pessimism. Whether it can continue to swim against the sentiment tide, time will tell,” he added.

Global updates
Tether, the world’s largest stablecoin, said on Thursday it has boosted its holdings of U.S. government debt while cutting exposure to riskier assets, the first look at its reserves since the token was rocked by the crypto sector’s recent sell-off.

Terraform Labs founder Do Kwon on Wednesday morning announced an on-chain governance proposal even as results from a preliminary…