Top cryptocurrency news on July 22: Major stories on Bitcoin, Tesla and Elon Musk's holdings

Major cryptocurrencies have recovered and are trading in the green, with Bitcoin climbing back to above $30,000. The global cryptocurrency market capitalisation is currently $1.30 trillion, an increase of 8.58 percent in the past 24 hours. Bitcoin is trading at around $32,000, more than 7 percent higher in the past 24 hours. Read more here.

The cryptocurrency market lost around $98 billion after Bitcoin plunged to below $30,000 for the first time in four weeks. The global cryptocurrency market capitalisation declined to $1.2 trillion, a fall of over percent in the past 24 hours, data from CoinMarketCap shows. Bitcoin, the world's largest cryptocurrency by market capitalisation, was trading at slightly above $29,600, over 6 percent lower than the previous day. Read more here.

FTX Trading Ltd said its valuation had risen to $18 billion after a $900 million funding round that included SoftBank Group Corp and was one of the biggest fundraises for a crypto company. Read more here.

Electric-car maker Tesla Inc would most likely restart accepting bitcoin as payments once it conducts due diligence on the amount of renewable energy used to mine the currency, Chief Executive Officer Elon Musk said at a conference on Wednesday, Reuters reported.

Tesla CEO Elon Musk on Thursday said he owns Bitcoin, Dogecoin and Ethereum. Musk added that Tesla and SpaceX also own Bitcoin. Musk was speaking at the Bitcoin event “The B Word", along with Twitter CEO Jack Dorsey, and Ark Invest CEO Cathie Wood.