TL;DR Breakdown
- Bitcoin is trading below the $38,500 level.
- A bullish trend may be seen over the whole crypto market.
- Ethereum has gained 3.54 percent of its value
- TERRA’s market value increased by more than 7%
Last year traders witnessed many new all-time highs for Bitcoin, as well as a rise in the number of prominent corporations investing in the cryptocurrency. Late last year, Ethereum, the second-largest cryptocurrency, also reached a new all-time high. The Biden administration and U.S. Government authorities are growing interested in regulating bitcoin.
Cryptocurrency has become a major issue in popular culture, due to everyone from long-time investors like Elon Musk to that kid from your high school who’s on Facebook.
When it comes to the crypto market, things are going from bad to worse. According to CoinMarketCap, the cryptocurrency market’s worth fell to $1.72 trillion today.
Bitcoin is trading below the $38,500 level
As the world’s first and most widely used cryptocurrency, Bitcoin often sets market trends. The future of bitcoin is in jeopardy because of its high value. As long as Bitcoin’s present state remains stable, major cryptocurrencies’ performance is strongly reliant on the current state of the cryptocurrency market.
BTC’s price has risen 1% in the previous 24 hours as a result of yet another setback. At the time of this writing, one Bitcoin is worth $38,440. The spike in value has resulted in a $734 billion increase in the market capitalization of Bitcoin.
Ethereum has gained 3.54 percent of its value
The year 2022 might represent a turning point for Ethereum, which has long been a distant second to Bitcoin in the cryptocurrency game. It dominates financial transactions and payments in many industries and provides the infrastructure for many of the DeFi protocols, thus it serves a purpose beyond just storing money. It’s important. It has a 20 percent share of the market.
The value of Ethereum has dropped by almost 8% in the previous seven days. The market value of one Ethereum has dropped to $2,730, a loss of 3.74 percent from yesterday. Ethereum has a market capitalization of $323 billion. In only 24 hours, the coin’s 24-hour trading volume surpassed $14 billion.
TERRA’s market value increased by more than 7%
Astonishingly, TERRA’s market value has risen by 7% today. Investors and traders all around the world are hoping for a rapid return of the bulls in light of the current market action, regardless of how little their gains may be.
As of right now, the market value of TERRA is $52.88, an increase of 7% over the last 24 hours. TERRA is one of the top 10 cryptocurrencies in the world, with a market cap of over $20 billion.
Cardano shows some improvement but stay below $1
Cardano dropped 9.93 percent of its value. Price declines resulted in Cardano‘s market capitalization dipping below the $31.7 billion level. The value of Cardano has risen by 2.99% in the last 24 hours, and it is now trading at $0.95 per coin.
Investors and traders all around the globe seem to be either panic-selling or lacking confidence in Cardano due to the market’s downward direction. The daily and weekly cryptocurrency charts have been highlighted in red due to the currency’s poor performance.
Final Thoughts
Many of the world’s most popular digital assets quickly entered bear market territory at the start of the year. That the sell-off occurred at the same time as a general collapse in the stock market only served to exacerbate the situation.
The crypto market has showed us that no one can predict where it will go in the future. In the past, markets have been able to change their views quickly and swing in a completely other direction.
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