The cryptocurrency market appears to have broke loose of its shackles on Tuesday as projects across the board are experiencing some much-anticipated price appreciation as the global financial system continues to show signs of distress.

Many in the cryptosphere awoke on Tuesday to find that Bitcoin SV, the controversial Bitcoin and Bitcoin Cash hard fork, up nearly 100% on the 24-hour chart and back even with its parent chain Bitcoin Cash. At the time of writing, BSV is up 106.2% on the 24-hour chart and trading at a price of $388.82.

While BSV has definitely been the most impressive gainer in the top 10, so much so that it surpassed Bitcoin Cash for the number 4 spot and now looks to challenge XRP, it is far from the only big gainer on the day.

The privacy-focused Dash project has had a nice day as well, experiencing a healthy 68.29% increase on the 24-hour chart and trading at a price of $119.95 at the time of writing. Considering that just two weeks ago on January 2nd Dash was trading near the $40 level, it's safe to say that with a current 24-hour trading volume now surpassing $1.5 billion and only positive news coming out of the Dash team, this project is clearly on the uptrend.

Another big mover on the day has been Ethereum Classic, which has seen a price appreciation of 34.9% on the 24-hour chart and it trading near $7.60. With several recent hard fork upgrades that has made ETC backward compatible with ETH, this is likely just the beginning of the attention that ETC will be receiving. And with ETH well on its way to transitioning over to Proof-of-Stake, it's highly likely that ETC will see a boost in community and mining hashrate as miners look for a new place to direct their hash power.

When taking a step back and looking at the market as a whole, it would be hard to argue that the recent bearish trend is all but broken as the total market cap has added nearly $20 billion in the past 24-hours.

And it may be worth taking note that Bitcoin has actually been an underperformer when compared to many other top cryptos. The top dog of the cryptocurrency market is currently trading at a price of $8,735, an increase of 5.11% on the 24-hour chart, giving it the third-lowest gain on the day out of the top 20. It would be wise for BTC to not rely on its past laurels in assuming that will keep it at the top, as the competition in blockchain technology is seriously heating up.

Whatever the driving force behind this breakout day in the market it’s clear that the recent downtrends are over. With central banks around the world printing fiat currencies like there is no tomorrow, it’s likely we are entering the world that Bitcoin and cryptocurrencies were made for. The global currency revolution is underway, and January 14th may one day be looked back upon as the day that cryptocurrencies began to ascend.