Ethereum
$ 1,223.52 1.09%
Solana
$ 40.44 0.83%
Dogecoin
$ 0.073228 8.04%
ApeCoin
$ 4.93 11.37%
Bitcoin
$ 21,247.00 0.09%
BNB
$ 237.51 0.43%

Bitcoin, Binance Coin, Kusama, and Enjin Coin Daily Price Analysis – 20 March Roundup

Roundup x

TL;DR Breakdown

  • The global crypto market goes through further depreciation, shedding 1.60% in 24 hours.
  • Bitcoin is also in a bearish mood, shedding 1.68% in the last 24 hours.
  • Binance Coin, following Bitcoin’s pattern, depreciated 1.24%.
  • Kusama is bullish, gained 1.57%, while Enjin Coin shed 3.81% in 24 hours.

The global crypto market is in a bearish mood as the weekend didn’t bring new gains. The result was a prevailing sense of sell-offs that affected most of the coins, including Bitcoin and other major altcoins. There is no certainty about the performance of these coins at the start of the new week, but analysts hope that it will bring bullishness as indicators predict so.

Ethereum’s co-founder Joe Lubin believes that the situation in Eastern Europe is setting the ground for the mainstreaming of crypto. The recent instances of Bitcoin and altcoin donations are an example of what might happen next. As the use of crypto is growing, there is a rush of users and corporate firms ready to invest in it and use it in normal life. Thus, once many people are using them instead of fiat money, the dream of its mainstreaming will be already realized.

Australian govt. has plans to work on the overhaul of the payments system. The overhaul won’t just include that of the traditional ones; rather, it will also include the introduction of crypto, which is good news for crypto enthusiasts. Here is a brief overview of the current market situation using the performance of Bitcoin, Binance Coin, and some others.

BTC in a recessive mood

A top analyst has predicted that Bitcoin will accelerate value next week as the ‘adoption game’ will speed up. The sense of down-trending prevailed for Bitcoin as there was little productivity over the last few weeks. The indicators predict that Bitcoin is ready for a bullish comeback, increasing the value of investments.

Bitcoin, Binance Coin, Kusama, and Enjin Coin Daily Price Analysis – 20 March Roundup 1
Source: TradingView

The data for Bitcoin shows that it shed 1.68% over the last 24 hours. In comparison, its performance for the last seven days shows that it gained 8.39%. Though Bitcoin hasn’t been able to maintain the momentum over the weekend, it might regain value soon. The current price for it is in the $41,273.27 range.

The market cap value for Bitcoin is estimated to be $783,549,321,415. The 24-hour trading volume of Bitcoin remained 19,730,403,352. The mentioned amount in its native currency is about 478,164 BTC.

BNB lowers further

Binance Coin has also been in a bearish mood like Bitcoin. The result has been a loss of 1.24%. This bearishness has resulted in the inability to regain the previous position in the market. Its weekly performance shows a gain of 7.46%. Currently, Tether occupies 3rd rank in the market, which was previously that of Binance Coin.

Bitcoin, Binance Coin, Kusama, and Enjin Coin Daily Price Analysis – 20 March Roundup 2
Source: TradingView

The current market cap value of Binance Coin is estimated to be $64,519,600,855. The 24-hour trading volume for this coin is about $1,312,058,285. The circulating supply lowered over the last 24 hours as the demand grew low. Its value is about 185,116,761 BNB.

KSM continues to soar

Kusama has been able to gain value despite the bearishness seen on the side of Bitcoin and Binance Coin. The result has been a gain of 1.57% over the last 24 hours. In comparison, the weekly performance shows a gain of 26.17%. The current price for Kusama is in the $148.40 range.

Bitcoin, Binance Coin, Kusama, and Enjin Coin Daily Price Analysis – 20 March Roundup 3
Source: TradingView

The weekly chart for this coin shows that it continued to gain value quickly. The pace lowered a couple of days back. The current market cap value for Kusama is estimated to be $1,256,322,633. While the 24-hour trading volume for it is about $105,754,357.

ENJ speeding the pace of depreciation

Enjin Coin has been following the dominant market trend as it shed 3.81% over the last 24 hours. The mentioned period proved hard for it as it shed a significant value of what it had gained resulting from the market rally. The current price for this coin is in the $1.43 range.

Bitcoin, Binance Coin, Kusama, and Enjin Coin Daily Price Analysis – 20 March Roundup 4
Source: TradingView

Enjin Coin was able to make gains of 10.26% over the last seven days. The market cap value for ENJ is estimated to be $1,247,698,673. In comparison, the 24-hour trading volume is about $119,716,147. The mentioned amount in its native currency is about 712,993 KSM.

The circulating supply for this coin was 872,224,706 ENJ.

Final Thoughts

The global crypto market couldn’t maintain the momentum at the weekend. The result was a significant decrease in the value of the global market cap, which came down to $1.86T. It was able to stay stable at $1.89T but couldn’t maintain it anymore. As experts have predicted that the new week will bring a bullish trend to the market again, some hopes will strengthen the market cap value. Vitalik Buterin believes that crypto has more power than we currently imagine; he referred to it as ‘dystopian potential,’ as it can change the world. 

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Muhammad Ali

Muhammad Ali

Muhammad Ali is an expert on crypto investments. Loving to write about fintech, he joins the team to provide detailed analyses of the hottest crypto news.

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