TL; DR Breakdown
- Bitcoin’s value nearing $45,000
- Ethereum is bullish by 6%
- 21 Million Shiba Inu BurnedToday
- Solana is bullish; market price up to $102
Bitcoin and Ethereum prices increased as the global crypto market remained in the green as investors’ desire for risky assets was rekindled by the lessening of tensions in Ukraine.
As Russia said on Tuesday that some soldiers have begun returning to their normal locations after completing training, US share futures soared and European equities rose.
This week, the United States issued its most urgent warning yet about a potential Russian strike on Ukraine. According to the SEC, BlockFi will pay $100 million in fines to resolve complaints against its business model, which is a bitcoin lending platform.
Bitcoin’s value nearing $45,000
The data from the last twenty-four hours tells a good story about bitcoin‘s market situation. Bitcoin gained 3.49 percent in the last 24 hours. The last seven days have seen a lot of ups and down in value. Bitcoin is near to hit $45k.
There has been a steady gain over the last few weeks. Bitcoin’s market cap is expected to be $839 billion. The trade volume was $25 billion. If the market gets better, there is a good chance that bitcoin will get better.
Ethereum is bullish by 6%
Ethereum, the second leading cryptocurrency has lost value during the previous several weeks. It has risen by more than 2% during the previous week or so. Today, Ethereum is bullish with a market value of $3,120.
Source Coinmarketcap
If we look at Ethereum‘s market cap, it is about $372 billion. Trading volume for the last 24 hours is about $41 billion.
21 Million Shiba Inu Burned Today
The second-largest canine cryptocurrency’s supply is being depleted by the daily burning of millions of SHIB tokens by the Shiba Inu community. According to the @shibburn Twitter account, a total of 410 million SHIB tokens has been burned by the mid of January. As of this writing, a total of 740 million tokens has been burned.
Shiba Inu has gained 3% of its value in the last hours. The current market price of the Shiba Inu is $0.00003116. The 24-hour trading volume is $1,640,489,252 USD. Live market capital at the time of this writing stands at $17,097,348,529 USD.
Solana is bullish; market price up to $102
In the previous seven days, the price of Solana has dropped by more than 8.4%, according to Coinmarketcap. On the open market, the price has been increased by more than 6%, to $102.00, from its previous level.
If we check the data from the previous week, Solana was trading at $168 on January 19, 2022. For the time being, the indicator is bearish for Solana. Solana’s trading volume is $$2,139,715,175, resulting in a market capitalization of $32,765,668,697.
Final Thoughts
The market today is down by more than 8% with a market cap of $1.7 Trillion. The market has experienced multiple recessions, and the most recent setback reduced the market’s value to $1.5 trillion. Investors are withdrawing money in order to safeguard themselves against the ongoing upheavals. The result is a market that is contracting in size.
The only way to overcome this problem is for bitcoin and other well-known currencies to maintain stable valuations. Nothing is out of the question, and everything is conceivable.
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