TL;DR Breakdown
- The global crypto market is in full swing, adding 3.88% over the last 24 hours.
- Bitcoin regains bullish mood, adding 3.01% over the last 24 hours.
- Binance Coin is also green, added 3.42% over the last 24 hours.
- Aave and Flow are also in a favorable situation, adding 7.05% and 3.62%, respectively.
The global crypto market has retained the overall trend of bullishness instead of going bearish. The result has been new gains to the value of Bitcoin and other market currencies. In contrast to the previous day, the bearish trend for Bitcoin and some altcoins have changed. If the mentioned coins had retained their bearish mood, there were chances that it would have affected the rest of the market as well. Fortunately, it didn’t happen, and an even stronger rally towards the market was seen.
The reason for the bearishness of some currencies was the fear of volatility that affected the market, leading to sell-offs. Some US senators have brought a crypto sanctions bill, but many legislators think it is unconstitutional. The mentioned bill is regarding the control and regulations of cryptocurrencies like Bitcoin, but there are rare chances that it will see any hope in the legislative process. The situation is currently favorable in the American market for Bitcoin, and thus the investors are expecting an entire bull run.
Ethereum has also increased the value of the stacks, adding to its value in the market. These changes are taking place before the mainnet merge. Here is a brief overview of the market situation using Bitcoin, Binance Coin, and other cryptocurrencies.
BTC turns aggressive
Bitcoin has regained the past bullishness after suffering minor losses for a day. The result was the changes in the value which might have brought it below $40K if the situation hadn’t changed. The recent twenty-four hours brought a significant amount for Bitcoin.
If we look at the data for the last 24 hours, it shows that Bitcoin has gained 3.01%. IN comparison, the gains over the previous seven days are about 6.81%. The new rise in value has also reinforced its price, which has gone high to the $41,769.14 range. If the gains continue, it might soon crack $42K.
The market cap value for Bitcoin is estimated to be $793,084,785,363. While the 24-hour trading volume of Bitcoin is about $33,110,947,207. The same amount in its native currency is 792,713 BTC.
BNB speeding the pace
Binance Coin was fortunate to remain in a bullish mood as the recent depreciation didn’t affect it. As the new gains have hit the market, Binance Coin has also got its share. The new additions brought gains of 3.42% over the last 24 hours. If we compare the seven-day performance for this coin, it was able to clinch 6.50%.
The current price for Binance Coin is in the $398.30 range. If we take a peek at the market cap value of this coin, it is about 398.30. The 24-hour trading volume of it remained $1,655,409,827. The circulating supply for the same currency remained 165,116,761 BNB.
AAVE in a full bloom
Aave has also been in gains for the last 24 hours. The graph for this coin shows that its gains skyrocketed during the previous seven days. The data for the previous 24 hours shows that it gained 7.05%. While if we compare the gains for the last seven days, these are about 36.54%.
The new price value as the result of this surge is $162.25. If the gains continue, its value will enhance further. The market cap value for this coin is estimated to be $2,219,554,250. The 24-hour trading volume of Aave has also shown vibrancy as it remained $484,746,749.
The circulating supply remained 13,646,180 AAVE for this coin.
FLOW sees substantive growth
Flow token has also landed in riches after the new gains added to its value. The chart for this coin shows various fluctuations as it didn’t remain stable. The weekly performance shows a mere gain of 0.13%. While the 24-hour data shows that it has been able to take hold of 3.62%.
The addition of new value has enhanced its price, taking it to $5.69. If we take a view of the current market cap, it is estimated to be $2,019,984,719. The 24-hour trading volume of the same coin remained 74,186,628. If we convert the trading volume for Flow to its native currency, it is about 13,045,070 FLOW.
Final Thoughts
After a short interval of bearishness, the market has revived, though it didn’t affect the market much. The new gains have added a significant value, which took its market cap value to $1.88T. The market hadn’t been able to reach this value for more than a month as the bearish trend continued due to the Russia-Ukraine conflict. As the situation has seen relative stability, the market has attracted further investments. If the flow continues, there is a possibility that the previous stability might be achieved soon.
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