With the crypto market in a state of relative limbo, we’ve invited a couple of experts to unpick recent events and to take readers’ questions about what to expect over the coming days, weeks, months and years.

Simon Trimborn, an assistant professor at the Department of Management Sciences at the City University of Hong Kong, and Fred Schebesta, a crypto advocate and founder of comparison platform Finder.com, will join us tomorrow at 11am BST.

You can ask your questions in the comment section of this article.

The price of bitcoin has returned above $46,000, rising by around 5 per cent over the last 24 hours.

Bitcoin’s gains have helped push the global crypto market up by 3.3 per cent since this time yesterday.

The tentative recovery has been mirrored by several other leading cryptocurrencies, including Ethereum (ether), Ripple (XRP) and Polkadot (DOT).

A snapshot from CoinMarketCap’s price index shows that it is not market-wide, with Cardano (ada) and Solana (SOL) among those failing to reverse the downward trend of recent days.

MicroStrategy has added to its already considerable bitcoin holdings by purchasing nearly half a billion dollars worth of the cryptocurrency.

CEO Michael Saylor announced the purchase on Twitter, revealing that the bitcoins were bought between 1 July and 12 September at an average cost of just over $48,000. Bitcoin has since dropped in price slightly but the average cost of all previous purchases mean the $3.16 billion that the software firm has spent on crypto is now worth more than $5 billion.

“As of 9/12/21 we #hodl ~114,042 bitcoins acquired for ~$3.16 billion at an average price of ~$27,713 per bitcoin,” he wrote.

You can read the full story here.

Confusion in the crypto market after news emerged that Walmart had partnered with litecoin in order to offer cryptocurrency payments to its customers.

The price of litecoin shot up by more than a third before it was revealed that the news release was a hoax, potentially part of a massive pump and dump scheme.

Several leading publications and news wires reported the Walmart news before realising it was fake, including Reuters.

You can read the developing story here.

The price of several Shiba Inu-themed cryptocurrencies have surged on Monday after Elon Musk shared an image of his new puppy.

“Floki has arrived,” the Tesla boss tweeted alongside the picture of the sleeping Shiba Inu dog.

Within minutes, the price of Floki Inu coin, Floki Shiba and Super Floki all shot up to new record highs. The obscurity of the altcoins mean that even despite the latest price rise, they still remain outside the list of the top 2,000 cryptocurrencies on CoinMarketCap.

You can read the full story here.

More countries seem to be on track for bitcoin adoption as legal tender.

City A.M. reported quoting Russian financial expert, Professor Vyacheslav Evgenyev, that Ukraine could be planning to make bitcoin legal tender by the start of 2023.

The Eastern European country already passed a draft law to legalise cryptocurrencies after El Salvador’s bitcoin adoption came into effect to open up the crypto market to businesses and investors by next year.

Panamanian Congressman Gabriel Silva also announced a bill last week titled “Crypto Law: Making Panama Compatible with the digital economy, blockchain, crypto assets, and the internet.”

Former NSA analyst Edward Snowden has said there is growing pressure on competing nations to acquire bitcoin – “even if only as a reserve asset.”

El Salvador’s bitcoin adoption may cost some multinational money transfer companies. The South American country’s president Nayib Bukele estimates that with the country’s bitcoin adoption, money service providers like Western Union and MoneyGram could lose $400 million a year in commissions for remittances, CNBC reported.

This could save money for the country’s diaspora wanting to send money to their families and friends back home. However, recent polls have shown that most Salvadorans are opposed to the adoption of the cryptocurrency, while regulators have expressed concern about the move turning the country into a fiscal paradise for money laundering.

Solana (SOL) peaked above $214 today on CoinMarketCap’s price index. It marks a new all-time high and a remarkable 12,000 per cent price rise since the start of the year. (For comparison, bitcoin’s 2021 gains stand at around 68 per cent.)

It now ranks above dogecoin and Ripple (XRP) with a market cap north of $60 billion, but more impressively it has managed to completely buck the market trends this week that saw leading cryptocurrencies crash and then consolidate.

Here’s a rundown of how it managed to achieve such highs, and the even more elevated ambitions of Solana’s developers.

While bitcoin continues to hover around the $46,000 price mark, a number of other leading cryptocurrencies are surging this morning.

Ethereum (ether), Cardano (ada) and dogecoin have all risen by between 5 and 10 per cent over the last few hours, but the real riser has been Solana.

The new star of the decentralised space rose by 30 per cent to a new all-time high above $210, taking it above Ripple (XRP) to rank as the sixth most valuable cryptocurrency by market cap.

Bitcoin price seems to have slightly stabilised compared to its nosedive on Tuesday, but it still valued at $46,000. Ethereum (ether) is showing feeble signs of recovery. But Solana’s price surge since Tuesday’s fall has been the biggest, growing by over 20 per cent in the last 24 hours.

The charts are still mostly red but the global crypto market seems to have slightly recovered, growing by about 1 per cent over the last day.