TL;DR Breakdown
- The global crypto market continues to gain, surges 4.65% in 24 hours.
- Bitcoin intent on reaching $50K, gains 4.20% in 24 hours.
- Ethereum’s gains for the last 24 hours amount to 4.00%.
- Avalanche and Near Protocol continue bullish, adding 6.09% and 2.42%, respectively.
February 2022 has proved lucky for the crypto market because of its new additions to the value of bitcoin and altcoins. These gains are unprecedented because of their pace and value. Previously, the market had seen a surge in 2021, but that also resulted from continuous gains. This time it is different as a change from bearish to bullish pattern is encouraging for the investors.
The new additions are driven mainly by new investors who want to get their share of profits. It is the result of growing literacy regarding crypto and other digital assets. Though many governments think they can stop investments in crypto by imposing, it is not possible. Instead, the investments are increasing, as is seen in the case of Nigeria. The Nigerian government has imposed a ban on crypto for a year.
Since then, there have been attempts to stop crypto from operating there, but there has been no luck as it continues unimpeded. The new investments from giant companies show how much the crypto market is becoming mainstream. A recent example is Twitter, which has continued its investments in NFTS. There has been further engagement, and it might introduce NFTs soon.
Here is a brief overview of the market and its leading coins like bitcoin and some altcoins.
BTC achieves its targets smoothly
The wonder of the crypto market is evident from bitcoin, which fell drastically back in December 2021. No one would have guessed how much it might rise and regain its previous value, but bitcoin did it. The data for the last 24 hours shows how bitcoin has progressed recently.
The gains for bitcoin have been continuing since the previous week, and it has achieved the price of $44,025.52. The rise from $34K to $44K in this little time is a big upset—the 24-hour gains of bitcoin amount to 4.20%. At the same time, it has added 14.81% in the previous seven days.
The market cap of bitcoin is also improving as new capital pours in and is estimated to be $834,313,272,785. At the same time, the trading volume of bitcoin has also increased with the new hike and is about $28,458,990,567.
ETH adds swift gains to its bag
Ethereum is also benefiting from the swelling market like bitcoin, and it has gained 4.00% in 24 hours. The gains for the last seven days amount to 16.85%, a significant increase in value. The current price for Ethereum is in the $3,147.06 range.
The growth of Ethereum is expected to be swift because of the number of tokens that operate using its system. So, it generates enough revenue to give tough time to competitors in the market. The market cap of Ethereum is estimated to be $376,122,631,241.
The trading volume of Ethereum for the last 24 hours is about 15,050,726,792.
AVAX utilizes the benefits of following the right track
The fast-paced expansion of the market is helping all major tokens grow. An evident example is Avalanche, which has added 20.09% in the last seven days. Though it ranks 12th in the list, it will still need to regain its previous position in the top 10. The 24-hour performance shows a gain of 6.09%.
The current price for Avalanche is in the $83.42 range, while it may improve if the gains continue. The market cap for this coin is in the $20,453,680,066 range, while its trading volume is about $873,691,956.
NEAR comes out more powerful after gains
Near Protocol has also successfully clenched new gains as the market turns bullish. The rank of this coin is 23rd on the global list, while its price is about $13.64. The graph for near shows a steep rise in value over the past few days.
The 24-hour gains are about 2.42%, while the seven-day gains are about 22.07%. It means that it has added about a quarter of its value during the last seven days. The market cap for this token is about $8,637,268,840.
The trading volume for it in its native currency is 57,692,465 NEAR. The same value in USD is $786,945,237.
Final Thoughts
The growth for the market is phenomenal as it has reached the value of $2.02T. Though it still needs time to reach its all-time high, it has reached a significant value. The recent gains have encouraged investors because of the opportunities it has opened up. These gains tell of the upcoming days, which might be even good. The progress in the market has a positive impact on the investor, as seen in bitcoin and altcoins.
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