TL;DR Breakdown
- The global crypto market continues to add further value, gaining 0.82% over the last 24 hours.
- Bitcoin has continued to be bearish, shedding 0.55% in 24 hours.
- Binance Coin has changed direction, added 2.63% in the last 24 hours.
- Cardano and Terra LUNA are in gain, adding 1.78% and 0.43%, respectively.
The global crypto market has undergone a profitable change as the situation has begun to turn in its favor. The changes are as per the predictions that the market won’t lose value because the indicators show an influx of investments. The last 24 hours proved especially bullish as Ethereum and Binance Coin entered the gaining club. The only exception amongst the top coins is Bitcoin which has yet to enter a bullish phase. Though it has increased the pace of loss, there are chances that it would soon join the group.
A study by Nickel Digital Asset Management Found that crypto is becoming mainstream. This UK-based group researched professional investors’ views regarding crypto investments are. The researchers were astonishing because most of the research participants found crypto one of the most reliable investments. Another study suggests that the crypto investments ratio amongst Norwegian women has doubled. The percentage of women investing in crypto was 3% as per the previous study, but the latest data suggests that it has grown to 6%. The rise in the value of investments from women suggests that crypto is gaining value.
The recent increase in the value of crypto is the result of the Ukraine-Russia conflict, leading to confidence in the use of crypto. The latest update is about the minting of NFTs of Ukrainian flags used for fundraising to support Ukraine. Here is a brief overview of the current market situation using the performance of Bitcoin, Binance Coin, and some other currencies.
BTC is still in losses
Though other coins have turned bullish, Bitcoin is still in losses. Experts suggest that this lag phase is the preparation for upcoming highs of $50K, which will bring back Bitcoin to the lost highs. The predictions have proved true for Bitcoin in the previous weeks, and this one might also turn into a reality.
The data for the last 24 hours shows that Bitcoin has depreciated 0.55% over the last 24 hours. Comparing the data for the last seven days shows that the gains amounted to 9.86%. The current price for Bitcoin is in the $47,059.88 range.
The current market cap value for Bitcoin is estimated to be $894,783,492,104. In contrast, the 24-hour trading volume of Bitcoin is about 27,962,303,197. The mentioned amount in the native currency of Bitcoin is about 593,716 BTC.
BNB turns bullish
Binance Coin had been following Bitcoin, but it has also changed direction. The result of the change in direction is bullishness. The data for the last 24 hours shows that Binance Coin has gained 2.63% over the last 24 hours. The seven-day data shows that it has gained 8.64%.
The price value for it went low due to losses that continued for two days. Now, as new gains come, it has reached $442.92. The current market cap value for Binance Coin is $73,336,047,509. The 24-hour trading volume for it is about $2,390,128,693.
The circulating supply for Binance Coin remained 165,116,761 BNB.
ADA experiences fluctuations
Cardano also has experienced fluctuations in value, but it has gained momentum. If we look at its performance for the last 24 hours, the gains are 1.78%. In comparison, the gains for the last seven days amount to 9.51%.
The weekly performance graph for Cardano shows that sell-offs lasted for a short while, but it has begun to attract further investments. The result of these gains is the addition of value to its price, which is currently in the $1.20 range.
The current market cap value of Cardano is estimated to be $40,445,859,235. The 24-hour trading volume of this coin is about $1,379,427,968. If we convert this amount to its native currency, it is about 1,150,691,954 ADA.
LUNA continues to gain
Terra LUNA has also experienced a lag in gains, though it has recently remained in full bloom. The recent gains for this coin are about 0.43%. The weekly gains for this coin reached 12.37%. The current price for Terra LUNA is about $108.19 and might increase further if the gains continue.
The market cap for this coin is estimated to be $37,989,599,322. If we compare the 24-hour trading volume, the activity for this coin remains high. Its value is about $2,448,275,479. The converted value of trading volume in the native currency of Terra LUNA is 22,875,285 LUNA.
The circulating supply for it remained 354,953,083 LUNA.
Final Thoughts
The global crypto market has been able to recover from losses as its gains revived. These gains resulted in the addition of value, which took the market cap value to $2.15T. Bitcoin might soon join the bullish bandwagon; the market is expected to rise higher. If it happens soon, the value of the market will see an exponential rise. The recent gains in the market are proof of this fact, so there is an eager wait for it from the investors.
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