- The global crypto market has continued to go even higher; the gains for the last 24 hours amount to 3.68%.
- Bitcoin utilizes the opportunity to grow, adding 4.20% in 24 hours.
- Binance Coin is also bullish, added 2.77% over the last 24 hours.
- Fantom and Filecoin follow the dominant trend, adding 11.44% and 1.67%, respectively.
The global crypto market has gained momentum over the last 24 hours as there has been no bearishness seen recently, breaking the alternating pattern. The result has been immense gains for currencies like Bitcoin, Ethereum, Binance Coin, etc. The activity for Ethereum shows that there has been an increased flow of capital towards it. According to CoinMarketCap, Ethereum worth 1,217,116 USDT were bought, which means a huge influx from investors. The increase in US inflation has also been why there is a flux seen towards crypto.
There have been significant developments regarding peace in Eastern Europe, which has helped the market stay stable compared to other days. The stability in the situation has led to increased purchases of Bitcoin as investors are seeking more gains. On the other side, Binance has been issued a license to operate in Dubai. Thus, after this issuance, it will be able to run an exchange for digital assets in Dubai.
Dubai became a hub for crypto investments recently after Russia was isolated in many regards by sanctions from the West. The mentioned change will strengthen further Dubai-based crypto economy. Here is a brief overview of the market situation using currencies like Bitcoin, Binance Coin, and others.
BTC about to crack $41K
Bitcoin has continued to gain value after the market took a breath of respite after long. The new change came in value due to many changes on the global level. One of the significant reasons for it is the rise of inflation levels in the US, forcing investors to go for crypto.
The data for the last 24 hours shows that Bitcoin has gained 4.20%. These gains have been higher than the previous days’ performance as they grew in value. In comparison, the data for the last seven days shows that Bitcoin suffered a loss of 3.47%. The new additions have reinforced Bitcoin’s value as it has reached the $40,703.21 range. The current market cap for Bitcoin is estimated to be $776,189,556,557. The 24-hour trading volume of Bitcoin is estimated to be $37,010,818,365.
BNB aspiring to make up for losses
Binance Coin has also succeeded in gaining value after the market gained momentum. The new additions for this coin are about 2.77% for the last 24 hours. While in comparison, the losses for the last seven days are about 4.32%. The price for Binance Coin has enhanced and is currently in the $378.40 range.
The market cap value for this coin is estimated to be $62,663,432,353. In contrast, the trading volume for the last 24 hours also increased value. It is about $1,657,260,281. The circulating supply of Binance Coin over the last 24 hours was 165,116,761 BNB.
FTM makes an impressive comeback
Fantom has also gained value as the market is returning to normal. The increase in Fantom came as the result of increased activity in the market after the hopes for normalization in the geopolitical situation. The new gains brought it 11.44% in the last 24 hours. At the same time, these gains are a significant increase in their value. In comparison, its performance over the last seven days was not that good. It shed 13.53 over the last seven days.
The enhancement in the market has helped Fantom increase market cap value which is estimated to be $3,037,536,502. The 24-hour trading volume of this coin is about $1,717,341,358. In comparison, the circulating supply was about 2,545,006,273 FTM.
FIL changing course to gains
Filecoin has also seen good days after long-lasting bearishness. The new changes have added 1.67% over the last 24 hours. In comparison, the performance for the past seven days shows that it shed 8.61%. The price for it is in the $17.11 range as per the latest updates.
The current market cap for this coin is estimated to be $3,037,536,502. In contrast, the 24-hour trading volume is estimated to be $269,171,636. The mentioned amount in its native currency is about 15,731,610.
The circulating supply for this coin remained 177,527,398 FIL.
The global crypto market has begun to recover value as the chances for the normalization of the geopolitical situation have begun to appear. The result has been an increase seen in the value of Bitcoin and other currencies. While the value of the global market cap has also strengthened. The increase brought it to $1.80T, though it is yet far from the value at the start of February. If the market is stable, there are chances that it will regain the lost value. The indicators show that the market might continue bullish.