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Crypto Market Update: Bitcoin Posts Massive Recovery, XRP Faces Grayscale Setback

Cryptocurrency markets have staged a smart recovery with the total global market capitalization jumping 10.17% in 24 hours leading to press time, as per CoinMarketCap data.

What Happened: Bitcoin (BTC) was up 10.01% at press time at $37,330.57 while Ethereum (ETH) rallied 5.48% higher at $1,105.77.

Grayscale Bitcoin Trust (OTC: GBTC) closed 3.67% higher at $40.35 on Wednesday. On the same day, Grayscale Ethereum Trust (OTC: ETHE) closed 1.75% higher at $13.40.

Grayscale is making moves to dissolve its XRP Trust after having announced the liquidation of XRP positions from its Grayscale Digital Large Cap Fund (OTC:

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