The changes in the global crypto market are positive as the investors have pushed it enough. These changes have helped Bitcoin and altcoins regain value as there is a dominant trend of gains. The increase in the value of gains has helped revive the receding coins, thus benefitting the investor. The sellers’ confidence decreases as the sell-offs lowered, giving way to an increase in influx.
Bankruptcy has been one of the major gifts of the ongoing bearish market. Various crypto companies have filed for bankruptcy. One of these is Voyager, which couldn’t stand the pressure and gave up. According to the available updates, Voyager has requested the court to honor customer fund withdrawals. It is a crypto lending and brokerage platform with funds in the metropolitan commercial bank.
According to the official data, Voyager has to honor withdrawal requests worth $350 million. It filed for bankruptcy last week because it couldn’t continue despite bailouts. According to its claims, it holds worth $1.3 billion crypto assets on its platform. While it also claims that Three Arrows capital owes its funds exceeding $650 million.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and other altcoins.
BTC gaining strength
Bitcoin saw a speedy revival soon after the market turned bearish. This change is seen as the indicator of the imminent relief rally. According to analyst Nicholas Merten, sellers continue to lose confidence which will give Bitcoin benefits despite uncertain market.
The latest data for Bitcoin shows that it has added 2.12% over the last day. If we compare the weekly performance of Bitcoin, it has reduced losses to 1.44%. These changes have resulted in the improvement of Bitcoin value.
The price value for Bitcoin is in the $21,139.53 range as it saw a boost. The market cap value for Bitcoin is estimated to be $403,849,871,201. The 24-hour trading volume for the same coin is about $24,836,065,862.
ETH sees boost
The news of the Ethereum merge has proved a good omen for it as it saw a speedy rise in value. The initial hours brought it over 12% as its management announced a tentative date for its merge, citing the ongoing developments. Tim Beiko has announced 19 September as the tentative date for the much-anticipated merge.
The value of Ethereum is also on its way to improve as the gains continue. The latest data shows it has added 9.77% over the last day. If we compare the weekly performance, it has added 10.13%.
The price value for ETH has also enhanced as it is currently about $1,336.81. If we look at its market cap value, it is estimated to be $162,599,000,168. The 24-hour trading volume of the same coin is about $19,029,488,016.
APE reverses losses
ApeCoin also sees enhancement in value as the market turns bullish. The latest data shows that it has added 2.69% over the last day. In comparison, the seven-day data shows that its losses are about 6.47%. These changes have improved its price value which is about $4.67.
The market cap value for the same coin is estimated to be $1,397,494,674. The 24-hour trading volume of the same coin is about $287,324,450. The same amount in its native currency is about 61,583,528 APE.
HBAR in a good mood
Hedera is also moving at a speedy pace as it has added considerable gains. The latest data shows that it has added 1.64% over the last day. The weekly performance shows that it has shed 3.06%. The price value for the same coin is about $0.06554.
The market cap value for HBAR is estimated to be $1,381,939,556. The 24-hour trading volume of the same coin is about $16,664,644. The circulating supply of this coin remained at 21,084,776,584 HBAR.
Final Thoughts
The global crypto market is improving as the bullish current strengthens. The mentioned change has helped Bitcoin and altcoins regain strength. According to analysts, the current wave of bullishness might push the market forward. If these changes continue, they will also enhance the global market cap value. The current global market cap value is estimated to be $961.76 billion.
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