Roundup 5The global crypto market has improved its performance due to a bullish market. The improvement in the performance has brought Bitcoin, Ethereum, etc., to a stable position. As the performance has enhanced, it has brought a steadiness to investor gains. The increase in the influx of capital will also increase the market value. The market has remained bullish for a couple of days, but still, there is a need for a strong wave. The gains for various coins remain low due to smaller additions.
The Japanese government has plans to reform crypto corporate tax laws. The recent updates tell of the consideration of the matter after the advocacy groups requested reforms. Later, the said government announced that it would evaluate crypto tax rules for corporations applicable for 2022. The Financial Services Agency and the Ministry of Economy, Trade, and Industry will evaluate the corporate crypto tax.
The two will also assess how crypto can help in the growth of the economy. The 2023 tax reform request mainly aims to solve the key issues that create hurdles in the way of crypto adoption in Japan. JVECA had recently requested to lower the crypto tax for individual investors. If considered, the tax reform will create better opportunities for crypto investors in Japan.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC continues forward march
Bitcoin funding rates have remained low due to the recent bearishness in the market. The lateral movement of Bitcoin has created a sense of uncertainty amongst investors. The price value of Bitcoin has rebounded, but it needs to improve further.
The value of Bitcoin has shown a lag in growth recently. The latest data shows that it has added 0.08% over the last 24 hours. The seven-day data shows that Bitcoin has shed 5.23%.
The price value for Bitcoin hasn’t been able to grow past the $21,578.82 range. The market cap value for Bitcoin is estimated to be $412,663,124,634. The 24-hour trading volume of Bitcoin is about $30,845,788,757.
ETH grows steadily
There is the hype surrounding the Ethereum merge as users wait eagerly for it. Some of the top expectations include lower costs and higher speeds which is yet to be seen. Some analysts have even suggested that most users aren’t going to experience much change.
Ethereum has also grown slowly due to pressure from bears. The latest data shows an addition of 0.61% over the last 24 hours. In comparison, the seven-day data shows a loss of 7.10%.
The price value for ETH is currently in the $1,686.46 range. The market cap value for Ethereum is estimated to be $205,790,100,258. The 24-hour trading volume of this coin is about $15,011,272,967.
HNT bearish
Helium has shown a bearish trend, moving in contrast to the rest of the market. The latest data shows that it has shed 5.99% over the last 24 hours. The weekly data shows a loss of 3.64%. The price value for HNT is currently in the $6.65 range.
The market cap value for Helium is currently estimated to be $829,672,585. The 24-hour trading volume of the same coin is about $13,891,584. The same amount in its native currency is about 2,088,272 HNT.
XEC in gains
eCash has also been in gains like the rest of the market. The latest data shows an addition of 1.94% over the last day. The data for the last week shows that it has shed 1.65%. The price value saw a slight improvement as it is currently about the $0.00004001 range.
The market cap value for XEC is estimated to be $766,267,367. The 24-hour trading volume of this coin is about $6,339,191. The circulating supply of this coin is about 19,152,073,423,303 XEC.
Final Thoughts
The global crypto market has seen a continuation in the positive trend. The latest data shows that Bitcoin and others have seen a continuation in growth. While the positive trend has continued, there is still a need for a stronger bullish wave. The global crypto market cap value has also seen a slight improvement. The latest data shows that it is currently estimated to be $1.04 trillion.
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