Crypto markets appear to have turned a corner after the collapse of Sam Bankman-Fried's crypto empire.
In the last 24 hours, Bitcoin has risen roughly 1.5% and is trading at just over $16,600. On the weekly, however, the market's largest cryptocurrency is still in the red, per CoinGecko. Ethereum also posted modest gains on Thanksgiving day, rising 4% in the past day and hitting $1,200 at press time.
Both tokens are, however, down a whopping 75% from their all-time highs set last winter.
The broader crypto market rose from just over $857 billion to $871 billion. Despite the roughly $12 billion reclaimed, the industry is still far from its peak capitalization of more than $3 trillion, which it reached roughly one year ago.
Besides the leading cryptocurrencies, the market's biggest 24-hour winners include Solana (SOL), Curve (CRV), Huobi (HT), and Chainlink (LINK).
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