The global crypto market has shown a mixed trend of bearishness and bullishness. Bitcoin and other top coins are bearish, while the following coins show a bullish trend. The current trend shows that the market is reducing its losses and will soon turn bullish. The changes in the market have continued keeping it in constant flux. The changes in value have continued in the specific change, bringing little value change to the market.
The area of influence for crypto has continued to expand. The latest in this regard is from Tether, which has announced that it will launch USDT on the Tezos network. Tether Operations Limited is the organization behind the world’s largest operating stablecoin. Its current expansion plans show that it could gather a considerable number of customers from the new venture. The current market cap value for Tether is more than $70 billion. If the current project gathers customers, the mentioned amount will grow further.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC lowers to $29K
Bitcoin has seen considerable improvement in various metrics. The latest in this regard is the hash rate which has reached its all-time high after seeing bearishness. People have continued to borrow money to purchase Bitcoin, while Jim Cramer opposes it. He said that it wouldn’t be able to return the requisite amount.
The latest data for Bitcoin shows that it has shed 0.63%. The losses for Bitcoin lowered gradually as the market saw an enhancement in value. Its weekly losses have remained at 1.88%. The decrease in losses has led to stability in its price value.
The current price value for Bitcoin is in the $29,994.90 range. If we compare the market cap value, it is estimated to be $571,801,249,434. The 24-hour trading volume of this coin is about $23,451,850,554.
ETH continues meltdown
Ethereum has continued the process of merging as it will transform soon. According to the available updates, the merge’s first testnet run is underway. Ethereum developers have successfully merged the Ropsten testnet with the beacon chain. It is one of the ultimate steps which will lead to the final merge of Ethereum.
The latest data for Ethereum shows that it has receded 0.40% over the last 24 hours. The performance of the same coin for the last seven days shows a loss of 2.78%. The price value would need stability for improvement.
The current price value for this coin is in the $1,783.68 range. If we look at the market cap value for ETH, it is estimated to be $216,029,800,114. The 24-hour trading volume of the same coin is about $12,690,806,522.
SHIB stays bullish
Shiba Inu has performed differently compared to Bitcoin and other coins. The latest data for this coin shows that it has added 0.13%. In comparison, the weekly performance shows losses of 5.55%. It has continued to enhance its gains. The current price value for this coin is in the $0.00001058 range.
If we compare the market cap value for Shib, it is estimated to be $5,797,948,897. The 24-hour trading volume of this coin is about $391,301,375. The same amount in its native currency is about 37,056,072,710,532 SHIB.
FTT moving towards gains
FTX Token is also bullish as it has continued to add gains. The latest data for this coin shows that it has added 0.62% over the last 24 hours. The weekly performance shows an addition of 4.45%. The trend for addition has helped it show bullishness in various metrics.
The price value for this coin is in the $28.43 range. If we look at the market cap value, it is estimated to be $3,867,793,290. The 24-hour trading volume of the same coin is about $81,067,500. The circulating supply for FTX Token is 135,917,458 FTX.
Final Thoughts
The global crypto market has continued to fluctuate as the market shows a mixed trend. The change in performance of Bitcoin and other coins shows that the market will soon be bullish. The changes in the global market cap value show possible improvement. It is currently estimated to be $1.23T and might grow further.
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