TL;DR Breakdown
- The global crypto market continues to gain, adding 1.25% in 24 hours.
- Bitcoin turns green, adding 0.96% over the last 24 hours.
- Binance Coin is also in a bullish mood, adding 1.14% to its bulk.
- Basic Attention Token and OKB are moving in the same direction, adding 0.49% and 2.03%, respectively.
The global crypto market remained bullish during the first day of the week. The result was gains added to different currencies, including Bitcoin, as the market continued to attract new investments. The start of the week was expected to bring investments at a faster pace, but in contrast, it remained too sluggish.
As the date for El Salvador’s Bitcoin bonds passed, there has been a growing demand for it. The reason is the uncertainty that is currently dominant on the global level. El Salvador’s govt. has decided that it will issue bonds worth $1.5B to purchase Bitcoin. If the said amount enters the market, it will bring a speedy surge.
Australia is also working on crypto regulations as there is a growing acceptance for its use. The more users, the more it becomes necessary to bring rules and regulations for its use. The details for the regulations are not yet clear, but it will be clear soon how it will be dealing with this business.
Here is a brief overview of the current market situation using the performance of currencies like Bitcoin, Binance Coin, and some others.
BTC back to business
Experts believe that Bitcoin mining would be one of the key reasons for American energy independence. Pete Sessions, a representative from Texas, made this statement regarding how Bitcoin mining will transform the US energy industry. It is expected to bring much more revenue than the spending, and for this reason, its supporters want the US to focus on it.
Bitcoin performance for the last 24 hours shows that it gained 1.14%. The performance compared to the close of the week is much better as it was going in a bearish mood. The change has brought the level of weekly gains to 6.99%—the result of these gains and Bitcoin price, which is currently in the $41,676.88 range.
The current market cap value for Bitcoin is estimated to be $787,963,768,207. If we take a peek at the trading volume for Bitcoin, it remained $25,465,062,368 for the last 24 hours. The said amount in its native currency is about 613,716 BTC.
BNB continues to grow
Binance Coin has also continued to grow in value as the first day of the week brought new investments. In contrast to Bitcoin, it had performed much better over the weekend, and it was bullish. The new gains have taken its additions for the last 24 hours to 2.65%.
In comparison, the data for the last seven days shows that Binance Coin could gather 8.56%. The price value for Binance Coin has finally crossed the $400 value and is currently in the $400.66 range. The graph for this coin shows that its performance lowered at the close of the last week, but it has begun to regain momentum.
The market cap value for this coin is estimated to be $65,838,465,673. In comparison, the 24-hour trading volume for Binance Coin is 1,676,822,753.
BAT enhances pace
Basic Attention Token has also improved the value of gains as the market turned favorable. The result was an addition of 0.49% over the last 24 hours. If we compare the weekly performance, it shows gains of 15.34%. Thus, it indicates that the pace for gains had lowered with time.
The market cap value has also seen improvement as it is currently estimated to be $1,212,875,038. In comparison, the trading volume of this coin also saw much activity. The 24-hour trading volume for Basic Attention Token is about $89,419,615.
The increase in gains has also favored its price, which is currently in the $0.8146 range. The circulating supply for Basic Attention Token remained 1,496,812,315 BAT.
OKB is trying to revive
OKB has also been in gains over the last 24 hours. The value of new gains for this coin is 2.03% for the last 24 hours. If we look at the performance for the last seven days, it shows that the gains are 4.11%.
The graph for OKB shows that it shed the gains made over the past week as the week came to a close. Now, the new additions have brought it to a higher level. The increase has also enhanced the price value, about $19.36.
The market cap value for OKB is $1,155,803,712 as per the latest updates. In comparison, the 24-hour trading volume of this currency is about $224,852,053. The same amount in its native currency is 11,672,504 OKB.
Final Thoughts
The global crypto market was expected to grow in bulk as the new gains flocked at the start of the new week. It didn’t happen as expected, and the only change was the increase in gains for specific coins like Bitcoin, which turned bullish. The result was a static global market cap value which is still $1.88T. If the market remains bullish, experts predict it closer to $1.90T. The new regulations and mainstreaming of crypto will help it grow in value while enhancing investor trust.
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