Meanwhile, the cryptocurrency market rebounded as Bitcoin (BTC), Ethereum (ETH), and other tokens traded in positive territory. The rebound was led by the GameFi sector as investor interest in play-to-earn tokens returned. Axie Infinity (AXS) registered an uptick of 37% over the past 24 hours, while BTC reclaimed $88,000, recovering from Monday’s low of $87,135.
Husky Inu AI (HINU) Reaches $0.00025833
Husky Inu AI (HINU) token has completed the latest price increase, rising from $0.00025539 to $0.00025636.
Husky Inu AI has raised $922,464 so far, and could cross $1 million before its official launch.
Crypto Market Rebounds
The cryptocurrency market returned to positive territory on Tuesday as investor appetite returned. Bitcoin (BTC) recovered from Monday’s low of $87,135 to reclaim $88,000 and reach an intraday high of $88,760 before moving to its current level of $88,240. The flagship cryptocurrency is up 0.40% over the past 24 hours. Meanwhile, Ethereum (ETH) reclaimed $2,900 late on Monday, reaching an intraday high of $2,946 before moving to its current level of $2,926, up almost 1% over the past 24 hours. Ripple (XRP) is also up nearly 1% at $1.89, while Solana (SOL) is up 1.41% at $124.
Dogecoin (DOGE) is also trading in positive territory, up 0.66% at $0.122, while Cardano (ADA) is up over 1%, trading around $0.351. Chainlink (LINK) is also up over 1% at $11.97. Litecoin (LTC), Hedera (HBAR), and Polkadot (DOT) have also registered notable increases over the past 24 hours. However, Stellar (XLM) and Toncoin (TON) bucked the bullish trend and are trading in bearish territory.
Stablecoin Supply Drop Could Stall Crypto Market Recovery
However, a substantial drop in stablecoin supply has sparked concerns that the latest market recovery could stall as it may lack the liquidity needed to gain momentum. According to Santiment data, the combined market capitalization of the 12 largest stablecoins has declined by over $2 billion over the past ten days. Bitcoin (BTC) fell over 8% in the same time period, suggesting that capital may be leaving the crypto market rather than remaining invested in stable assets.
The drop in stablecoin supply is alarming because stablecoins tend to grow during pullbacks, helping preserve buying power within the larger crypto ecosystem. However, this cycle has seen a difference, with investors converting digital assets back into fiat currency and reallocating them towards low-risk assets. The shift is very visible in current market action, with gold and silver surging to record levels while risk assets like Bitcoin struggle to build momentum. Gold surged past the $5,000 mark while silver rose over 8% in one session to trade above $110 on Monday.
