TL;DR breakdown
- Bitcoin bounces back after the miserable crash, a brief respite to traders
- Ethereum begins to gain momentum, risen by 12% in the last 24 hours period
- Revolution progresses up the charts by 223%
- Cardano is on par with market trend reaches above $1
It’s been a rough start to the new year for the cryptocurrency market. On Monday, the market was down more than 6%, and it’s not going to get back to where it was in 2022.
The Russian central bank suggested last week that cryptocurrencies and crypto exchanges should be banned, and the UK Government said it would pass new laws to stop misleading cryptoasset ads.
Crypto prices have gone down, which means that the crash that hit prices in early January, when Kosovo banned mining and Kazakhstan’s crypto mining empire took a hit during political unrest, could be set to keep going as the rest of the market sells off.
Bitcoin bounces back after the miserable crash, a brief respite to traders
On Monday, January 24, the price of a Bitcoin was $33,530. This was a new low below $35,000.
As of yesterday, the market was under great stress since bitcoins price has reached its newest low, and the market has been bearish for quite some time now. However, Bitcoin today shows massive growth of 10%.
The market is up, and you never know until when. After the recent splurge, the trading volume of Bitcoins is estimated to be $40,166,027,669, and the trading volume is expected to be $699,280,656,911 at this time.
The market value of Bitcoin after today’s hike is $36,443; that is almost 10% growth in the last 24 hours.
Ethereum begins to gain momentum, risen by 12% in the last 24 hours period
Well, as it most predicted for Ethereum to see a hike simultaneously with Bitcoin, it is the matter today as well. Ethereum enjoys a rise of 12% with the market value at $2,406.
If we take a look at last week’s price, Ethereum had lost 35.56 percent of its value; that’s a lot of money when you consider how big the world market is. However, in the last 24 hours, Ethereum has gained 10 percent of its value. It now has a value of $2,406 on the market.
Ethereum current trading volume is estimated to be $21,341,328,189 and market cap is $292,198,031,186.
Revolution progresses up the charts by 223%
Amidst the markets up and down, the new currencies have been able to manage to score high. Revolution is one such currency that is progressing upwards amid some real market crashes overall.
Source Coinmarketcap
Revolution’s trading volume is at $650,439 USD on the last day. The live price is $6.97. As of this writing, the Revolution has gone up 223% in the last 24 hours.
Cardano is on par with market trend reaches above $1
In recent years, Cardano has been at its lowest point. It has done well on and off. A lot has gone down in the last 24 hours. If we look at the last 7 days, it’s down 29% which is almost 7% lower than yesterday.
Cardano‘s value has risen to $1.03 after its most recent drop, with a trading volume of $2,422,065,665 and a market cap of $34,364,146,196.
Final Thoughts
Cryptocurrency assets are a high-risk investment, but they can be extraordinarily rewarding. Cryptocurrency investment is a great way to get a direct glimpse of the demand for digital money. A safer, but perhaps less rewarding, the option is to invest in the stocks of firms that have exposure to cryptocurrencies.
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