The major cryptocurrencies, Bitcoin and Ethereum, registered modest gains on Thanksgiving Day as the industry appeared to recover from the fallout linked to the collapse of Sam Bankman-Fried’s FTX and its associated firms. The bearish pressure of this collapse was threatening to topple the fragile crypto sector that was already reeling from the “crypto winter” experienced earlier this year.

Bitcoin gained approximately 1.5% on Thanksgiving to trade at a little more than $16,600. However, the weekly stats indicate that BTC is still down from the highs it had registered in prior weeks. Ethereum also registered modest gains on Thanksgiving, rising by 4% in order to reach the…

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