Cryptocurrency markets rebound slightly after plunging amid Middle East tensions

The cryptocurrency market is witnessing a modest rebound after suffering a huge plunge on Saturday amid rising tensions in the Middle East, U.Today reports. The largest altcoin, Ethereum (ETH), has managed to recover back to the $3,000 level after falling to $2,878. Meme coin Dogecoin is currently trading at $0.1591 after plummeting to $0.1358. Shiba Inu has recovered to $0.000022 after plummeting to $0.00001904. Other major cryptocurrencies such as XRP, Cardano (ADA), and Avalanche (AVAX) have also gained but have still fallen significantly over the past 24 hours. Bitcoin prices fell by more than 8% after Iran reportedly attacked Israel with drones and missiles. However, industry leaders like Mike Novogratz are convinced this is just a temporary correction and expect the market cycle to continue. However, the direction of the crypto market may depend on whether there is further escalation in the Middle East. Currently, the market value of the entire crypto market has fallen below $2.5 trillion, having previously been close to $3 trillion.