Bitcoin steadies on Sunday after days of turmoil for crypto currencies

Even after Sunday’s recovery, the total market value of cryptocurrencies has dropped by about $350bn in the past week to roughly $1.38 trillion.

Bitcoin staged a modest recovery to trade at around $30,000, extending a period of relative market calm after the collapse of a closely watched stablecoin that troubled digital assets in the past week.

The largest cryptocurrency advanced by over 3% on Sunday to $30,300 in New York trade. Ether, the second-biggest token, rose by over 4% while coins like Avalanche and Cardano posted even larger gains.