TL;DR Breakdown
- The global crypto market has begun to recover, adding 0.02% in the last 24 hours.
- Bitcoin also turns bullish, adding 2.78% in the last 24 hours.
- Binance coin is still bearish, sheds 2.27% in the last 24 hours.
- Avalanche and Cosmos are both in a bullish mood, adding 2.89% and 8.54% in 24 hours.
The global crypto market receded recently due to the fears of a new wave of inflation and ongoing political changes. The new threat that might prove impactful is Russia and Ukraine’s tension which might turn into a war. If this happens, the impacts will be evident on the world’s politics and the crypto market. As mining hubs in both countries and many investors belong to these two countries, they will impact the investments.
It is yet to be seen what turn the situation will take, but the impacts of war on the global crypto economy won’t be good. The market has already been lingering at lows due to the impacts of the recent crash, which made it lose multi-million dollars. If war starts, the results will be horrible not only from the humanist perspective but the economic perspective as well.
Kosovo has banned crypto mining because of the energy outages and the economic impacts. The miners cost a significant amount of energy, due to which the government took this extreme step. As a result, this step has caused panic amongst the mining community, looking for buyers to purchase mining equipment.
Here is a brief overview of the market situation and leading coins like Bitcoin, Binance Coin, and others.
BTC turns green after long
Bitcoin has been through the worst crisis in its lifetime as it crossed the red line. Though the impact was too much for bitcoin, it has begun to recover with a stable momentum. There is no surety about the upcoming days as global politics might see another change, but there are still hopes about bitcoin’s good days.
The data for the last 24 hours shows positive results. As per the latest data, bitcoin has gained 2.79% in the last 24 hours. If we compare the weekly losses, they amount to 14.06%, as the previous crash deprived it of an important value.
The current bitcoin price is in the $36,310.57 range, while it might improve soon if the growth continues. The current market cap for bitcoin is estimated to be $686,879,566,274. The trading volume of bitcoin for the last 24 hours is estimated to be $41,669,957,645.
BNB is still trying to get out of limbo
Unlike Bitcoin, Binance coin is still trying to get back on track. The ongoing bearish situation has affected Binance Coin greatly, and it needs relief to regain its value. Though the situation might last for a short period, the impacts of the previous market crash are evident in the prices of the mentioned coin.
According to the latest data, the Binance coin has lost 2.27% last while the losses for the past seven days are about 23.22%. The current price for this coin is $364.96. If we take a peek at its current market cap, it is estimated to be $60,225,307,461.
The trading volume of Binance coin for the last 24 hours is about $3,165,664,255.
AVAX decides a fast-paced growth
Avalanche coin has shed 26.85% over the last seven days, while the gains for the last 24 hours amount to 2.89%. The current price for this coin is about $63.57, while the current market cap is estimated to be $15,565,495,596.
If we take a peek at its trading volume for the last 24 hours, it is estimated to be $1,158,891,680. The mentioned amount can be converted to 18,229,036 AVAX.
ATOM is skyrocketing its new additions
Cosmos has suffered losses amounting to 7.58% in the previous seven days. Its current ranking is 17th on the list, while its price is in the $36.10 range. The gains for the last 24 hours are about 8.54% which has added to its bulk.
The current market cap for Cosmos is estimated to be $10,338,914,362. The trading volume of the said coin for the last 24 hours is estimated to be $3,845,821,227.
Final Thoughts
The market has been through hard times, and now it is in the recovery phase. The turning of bitcoin into a bullish mood suggests that the rest of the coins in the market will follow. If this happens, it will help recover the capital that it lost previously. There is no guarantee of continuing bullishness in the coming days because of the political situation, but experts hope that the results will be positive.
The market might go through a crisis if the political situation worsens.
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