TL;DR Breakdown
- The global crypto market regains momentum adding 1.82% in 24 hours.
- Bitcoin also changes from bearish to bullish, adding 1.27%.
- Binance Coin also benefits from the favorable market, adding 1.17%.
- NEM and Oasis Network are both in a gaining mood, adding 0.12% and 3.75%, respectively.
The global crypto market has changed its course as the new gains made it optimistic for investors. The change in the value goes well with the predictions made the past week. The indicators regarding the market were also in a positive mood as the experts had the least expectations regarding bearishness in the market. As the market is in a gaining mood, there are chances that it will be able to revive the previous market cap value as it had back in January 2022.
Crypto growth has led to the recognition of cryptocurrency exchanges and other related companies globally. The latest addition to the list is Crypto.com, which is recognized as the official sponsor for FIFA World Cup 2022. The said gesture is of immense importance because of the number of investors attracted to it recently. Crypto is growing in different dimensions, and one of them is games and NFTs. The latest addition is Solana Blockchain‘s development team. PUBG developer Krafton has joined hands with Solana to improve and develop games.
Here is a brief overview of the current market situation using the performance of Bitcoin, Binance Coin, and some other names.
BTC nearing $43K
Bitcoin has had a relatively disturbed performance the last day compared to other days. The ray of hope came for it when there was news that Honduras might accept it as a legal tender. An official denial has come from the Honduras central bank. It has been said that Bitcoin is not regulated, and Honduras’ acceptance of it as a legal tender is just rumors. The representative stated that currently, there are no chances of Bitcoin acceptance as legal tender, but it might happen in the future.
Bitcoin performance for the last 24 hours shows that it has remained bullish. It was able to gain 1.27%, while its weekly gains are about 3.78%. Bitcoin price has also improved due to a new addition to its bulk. It is currently estimated to be in the $42,842.70 range.
The market cap value for Bitcoin is estimated to be $813,503,722,191. In comparison, the trading volume for it is about $26,395,724,566.
BNB eyeing new heights
Binance Coin has also remained in a bullish mood as the market revived. The short-lasting bearishness impacted its performance as it lowered value significantly. The last day remained bearish, and the leading one in losses was Bitcoin, followed by Ethereum and Binance Coin.
The changing situation has brought hope to investors as the new gains will help secure their capital. The data for the last 24 hours shows that it has gained 1.17%. The losses over the previous day remained the same about the same. In comparison, if we look at the seven-day data, it has gained 6.22%, which is much better than Bitcoin.
The current price for this coin is in the $408.39 range. The market cap value for Binance Coin is estimated to be $67,432,694,081. The 24-hour trading volume for this coin is about $1,718,062,987.
XEM moving steadily
NEM has also changed direction after experiencing fluctuation in the market value. This change results in the addition of 0.12% over the last 24 hours. Though the value of gains is low, the increase might prove significant if the bullishness continues.
If we compare the weekly data, NEM has been able to add 9.56%. The price value for NEM has also improved due to a new wave of bullishness. It is currently in the $0.1081 range. The market cap value for this coin is estimated to be $973,006,729.
The 24-hour trading volume for this coin is about $24,060,299. The same amount in its native currency is 222,550,049 XEM. The circulating supply for it remained 8,999,999,999 XEM.
ROSE in a mood to revive the value
Oasis Network remained relatively stable in the previous days compared to other coins. Though it went through fluctuations, its losses remained at a bare minimum. The graph for its performance shows that it has begun to revive the value it had depreciated.
The data for the last 24 hours shows that Oasis Network has raised gains of 3.75%. In contrast, the weekly performance shows gains of 16.15%. The price range for it has also remained stable as it is $0.2649 as per the latest updates.
This coin’s current market cap value is estimated to be $3.75%. At the same time, the 24-hour trading volume remained $160,414,902. The circulating supply for this coin is about 3,493,014,306 ROSE.
Final Thoughts
The market resilience is evident from the revived value after the market fluctuated slightly. As the bearishness didn’t last for long, it has strengthened investor trust. The new increases in the value have also enhanced the market cap value, which is currently about $1.95T. As it is closing to $2T, there are hopes for the market’s revival to the highs of November 2021. If this happens, there are least chances that it will see back as the situation seems favorable. Also, the market has shown resistance to crises in an impressive manner, indicating its rise to set a new trend.
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