The crypto market recovered on Wednesday amid more global acceptance as El Salvador became the world’s first country to officially adopt bitcoin as legal tender. The market capitalisation increased 3.6 percent to $1.61 trillion as of 13:55 GMT. The price of bitcoin, the largest cryptocurrency, gained 7.02 percent to reach $34,948. With this increase in price, the market capitalisation of the BTC has reached $654 billion. Likewise, ethereum (ETH) price increased by 2.30 percent to reach $2,525. With this increase in price, the market capitalisation of ETH has reached $293.4 billion. Similarly, XRP gained 1.93 percent to reach $0.865. The market capitalisation of XRP stands at $86.4 billion after this increase. On the other hand, Cardano (ADA) price reached $1.56 with a 3.65 percent increase in its price. Its market capitalisation has reached $50 billion with this increase. Similarly, dogecoin (Doge) gained 1.20 percent to reach $0.327. With this decrease in price, the market capitalisation of Doge reached $42 billion. The Congress of El Salvador has formally approved the government’s ‘Bitcoin Law’ by a qualified majority, making the Central American nation the world’s first country to officially adopt a cryptocurrency as legal tender.