- The global crypto market is going through a mixed situation, losing 0.26%.
- Bitcoin has added further to its gains; the new additions amount to 0.29%.
- Binance coin is also bullish, adding 3.37% in 24 hours.
- Terra LUNA gains 2.15%, while Uniswap loses 3.41% in the last 24 hours.
The market is going through a mix of bullishness and bearishness. Some of the leading coins are in a bullish mood, adding to their gains, while some haven’t been on track. An ample example is that of bitcoin and Binance coin, which have continued to gain and put the significant amount to their bulk. Though they have remained bullish for the past two days, it needs to be seen if they can keep their momentum.
The entry of athletes and sports organizations has been the major reason the crypto market has grown. The recent news is that of 3 times NBA champion Andre Iguodala who will receive a salary in crypto. The mentioned step will help with the promotion of the crypto market. Another news is that Australia’s largest crypto exchange will sponsor Ajla in her games.
The new investments in NFTs and metaverse are attracting further investors. Some people are investing millions in this venture, which is expected to bring them enormous profits. The investments in NFTs, metaverse projects, and other blockchain innovations are why the crypto industry is afloat despite the hard times it is witnessing.
Here is a brief overview of the leading cryptocurrencies and their performance in the market.
BTC growing stronger
Bitcoin has begun to recover from the losses it has suffered in recent days. The latest data shows that it is going in a positive direction. The previous 24 hours were good for it as it gained 0.29% in 24 hours. In comparison, the seven-day data shows that it underwent a loss of 10.48%.
According to TradingView, the price for Bitcoin is growing, and it has crossed $41.5K, but the investor trust hasn’t been completely regained. They analyzed the derivative data for the previous few days and concluded that investor confidence might take time to revive.
Experts below that the dip and then sudden rise of bitcoin to $41.5K might signal its further rise in 2022. If this happens, bitcoin might be able to make up for the losses that it has made.
The current market cap for bitcoin is estimated to be $790,970,014,174. At the same time, the trading volume for bitcoin during the last 24 hours is about $34,404,105,784. The mentioned amount of trading volume can be converted to $823,200 bitcoins.
BNB strengthening its position against upcoming hard times
Binance Coin is strengthening its position after going through a hard-hitting recession. The recession has been a blow to the Binance coin’s value because of the dips that it went through. The rise for the last 24 hours is about 3.37% compared to the loss of 12.84% in the past seven days.
The current price for the Binance coin is about $448.80, while the ranking is 4th. The current market cap for the said coin is estimated to be $74,859,895,372. In comparison, the trading volume during the last 24 hours is about $4,783,439,950.
LUNA is continuing smoothly in a positive direction
Terra LUNA has remained bearish in the past week and suffered enormous losses. If we look at the data from the past seven days, it has lost about 19.55%. In comparison, the gains in the previous 24 hours are estimated to be 2.15%.
The current price for Terra LUNA is in the $71.36 range, while it ranks 9th in the list. As per the latest updates, the market cap for the said coin is about $25,498,502,096. If we look at its trading volume during the last 24 hours, it is estimated to be $2,885,555,777.
UNI is still lingering in the lows
Uniswap hasn’t yet recovered from the losses if we compare it to other coins. The data shows that it went through a loss of 3.41% in the past 24 hours, while the loss for seven days was 15.57%.
The current trading volume for this coin is in the $419,748,022 count, while the market cap is estimated to be $9,825,496,423.
The market is improving gradually, but the losses are continuous because of the weakened investors’ trust. Investors are cautiously pouring their capital into the market and might continue to do coming days. If the market shows stability, then the bearishness might change to bullishness. The change in the mood might take time and stability in and outside the market. There are a host of factors that affect the market’s mood, and there is a need for stability in the majority of them, if not all.
There are hopes that the market will revive, but the problem is short-lasting revival which affects the investments.