There has been a significant change in the market after its speedy decline following FTX’s collapse. The recent changes for Bitcoin, Binance Coin, and others show that there has been a considerable gain. The ongoing situation shows that the market might gain momentum anytime soon. The greatest hurdle to the market’s growth has been unruly events like the collapse of companies and hacks. The market would take time in stabilizing value as there is yet hope of its recovery.
Digital assets group AIC has secured up to $12.5 million in funding for Cannaverse Technologies’ Cannaland project. A statement from Atlantic International Capital (AIC) Digital Group confirmed that they have secured the required amount from a private group. The launch of Cannaland will be the creation of the largest cannabis community across the globe. The Cannaland platform will ensure business worldwide of Cannabis without any hurdles.
Mark Bonner, the CEO of Cannaverse Technologies also commented on this development. He said in the statement that they appreciate the assistance from AIC. He further added that this project will allow a focus on building out the greatest infrastructure for the cannabis business. The mentioned process will also help those businesses that are already dealing in cannabis, thus creating equal opportunities for all.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin, and others.
BTC turns bullish
Elon Musk has said that BTC will make it despite the current difficulties. He added that Bitcoin may be bruised but big names are keeping the faith. Data shows that investors have seized the chance to buy the dip in Bitcoin.
The recent changes for Bitcoin show a considerable improvement. The latest data shows that it has added 1.06% over the last 24 hours. The weekly performance of this coin shows that it has shed 19.05%.
The price value of BTC is currently in the $16,791.19 range. The market cap value of Bitcoin is estimated to be $322,510,308,838. The 24-hour trading volume of this coin is about $40,647,209,465.
BNB gains momentum
Binance’s CEO has revealed the reason behind the collapse of the cryptocurrency exchange FTX. According to available information, there was a $8.8 billion hole in its balance sheet. As a result of this hole, more than 1 million users are unable to withdraw their money. The Bahamas-based exchange filed for bankruptcy in the US.
The performance of Binance Coin has also improved as a result of recent changes. The latest data shows that it has added 2.10% over the last day. The weekly performance shows a loss of 13.59%.
The price value of BNB is currently in the $286.24 range. The market cap value of this coin is estimated to be $45,790,340,303. The 24-hour trading volume of the same coin is about $1,360,774,625.
LINK sees a change in the curve
The performance of Chainlink has also seen a change in its value curve. The latest data shows that it has added 1.59% over the last day. The weekly data shows that it has shed 23.87%. The price value of LINK is currently in the $6.29 range.
The market cap value of Chainlink is estimated to be $3,094,574,000. The 24-hour trading volume of this coin is about $436,112,260. The same amount in its native currency is about 69,355,446 LINK.
ATOM still recessive
The value of Cosmos has yet to see a bullish trend though it is on its way to improvement. The latest data shows that it has lowered losses to 0.11% for the last 24 hours. The weekly performance of this coin shows a loss of 26.54%. The price value of ATOM is currently in the $10.46 range.
The market cap value of Cosmos is estimated to be $2,996,081,994. The 24-hour trading volume of this coin is about $229,240,926. The circulating supply of this coin is about 286,370,297 ATOM.
Final Thoughts
The global crypto market has witnessed significant growth in value over the last day. The performance of Bitcoin, Binance Coin, and others shows a trend of bullishness. The ongoing changes show optimism despite hard times for the market. The global market cap value has also improved as a result of recent changes as it is about $842.91 billion.
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