The global crypto market has seen a positive trend over recent hours. The performance of Bitcoin, Ethereum, and others shows that there has been a considerable improvement. As the market has seen gains, there has been a rise in investor trust. The result has been a continuation of the influx of capital, which was needed crucially. If the current influx of capital continues, there is a chance that the market will improve in value.
The UK has enforced new changes which exempt foreign crypto investors from taxes. The UK has been making consistent efforts to become a global cryptocurrency hub. The tax exemption can be availed by non-residents and foreign investors. Furthermore, the exemption will be applicable when users purchase digital assets through local investment managers or brokers. The new changes are part of the new PM Rishi Sunak’s efforts to attract new investments. These changes are applicable with the start of 2023 and will be applicable from 1 January.
The UK already has a tax guide in place for resident cryptocurrency traders. The HM Revenue and Customs issued a consultation in July to learn about the views of investors and professionals. Bank of England had issued statements regarding dangers related to cryptocurrency and the problems related to it.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC trading at $16.6K
Bitcoin miner revenue saw a considerable fall in 2022, as it dropped 37.5%. The revenue that miners made in 2021 was about $15.3 billion, while that dropped to $9.55 billion in 2022. The decline has shown a bleak picture of the market, which continues to struggle with problems.
The recent changes for Bitcoin show slight improvement. The latest data shows that it has added 0.54% over the last 24 hours. The weekly performance of Bitcoin shows that it has shed 1.17%.
The price value of BTC is currently in the $16,676.18 range. The market cap value for Bitcoin is estimated to be $321,026,603,187. The 24-hour trading volume of Bitcoin is about $12,169,585,726.
ETH bullish
Bitcoin and Ethereum started green in 2023 as there has been a considerable improvement for them. In comparison, 2022 didn’t bring anything other than losses as the market remained low. The new week has brought a significant rise to their value.
Ethereum has also seen a bullish trend over recent hours. The latest data shows that it has added 1.43% over the last day. The seven-day data shows that it has shed 0.81%.
The price value of ETH is currently in the $1,213.45 range. The market cap value of this coin is estimated to be $148,494,646,815. The 24-hour trading volume of the same coin is about $3,735,153,973.
AVAX fluctuating
Avalanche has also seen fluctuations as the market remained uncertain about it. The latest data shows that it has added 3.10% in a day. The weekly performance shows that it has shed 5.07%. The price value of AVAX is currently in the $11.10 range.
The market cap value of Avalanche is estimated to be $3,457,664,102. The 24-hour trading volume of this coin is about $127,580,352. The same amount in its native currency is about 11,487,629 AVAX.
ATOM on revival
Cosmos has been in a revival mode as it has attracted considerable gains. The latest data shows that it has added 4.07% in 24 hours. The seven-day data shows that it has added 7.45%. The price value of ATOM is currently in the $9.83 range.
The market cap value of Cosmos is estimated to be $2,814,853,897. The 24-hour trading volume of this coin is about $132,096,327. The circulating supply of the same coin is about 286,370,297 ATOM.
Final Thoughts
The global crypto market has seen a positive trend over the last day. The value of Bitcoin, Ethereum, and others has improved due to the favorable market. As the market has continued to attract gains, there has been a positive trend seen in new investments. The positive influx has strengthened the global market cap value. The latest data shows that it is estimated to be $805.31 billion.
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 decision.
