Thankfully, scenes of recovery were seen as Monday began — BTC up 6%, ETH surging 12.7% and Cardano up 14%.
The crypto markets fell back down to Earth over the weekend — and quickly.
Shakeup in Rankings
In a way, it almost feels that the markets are reverting back to the way they were before the recent bull run. Tether has once again regained the No. 3 slot as stablecoins experience heightened demand because of all the uncertainty.
DOGE has also fallen two places in recent hours, to No. 6, as Cardano and Binance Coin experience outsized gains.
Indeed, even Elon Musk appears to be less enthusiastic about crypto’s potential. On Twitter, he gave a rather tepid response when asked about the criticism he has been receiving, telling one user:
“The true battle is between fiat and crypto. On balance, I support the latter.”