- Recessive mood rampant in the market, global market cap recedes 3.12% in the last 24 hours.
- Bitcoin has lost 3.76% in the last 24 hours, down to the $45.9K range.
- Ethereum, also in a state of free fall, loses 3.91% to the bearish market.
- On the positive side of trajectory, Avalanche has gained 5.60% in the last 24 hours, while Uniswap also made gains..
The miseries of the crypto market are not yet over. This time it has been more affecting for the market, as the effects are evident in the loss of 3.12% to the market in the last 24 hours. However, it was expected that the closing days of December would be better because of the improvement in the market during the recent days. But there is no change in the bearish mood.
Occasionally there is a small change in the mood of top coins, which add a little to make up for the losses. But despite these gains, there is no significant change seen in the market that is truly reflective of the revival of investor trust. Though new companies are joining the race for NFTs, there is still a receding mood in the market.
The recent news is Adidas, which has joined the NFTs race. US credit firms can now work with crypto firms to bring crypto to the mainstream market. These measures are significant steps to revitalize the crypto market going through hard times. It has undergone a major change as it was recently expected that Bitcoin would cross $100k, but now it is struggling to stay in the $50K range.
Despite the hard times, there are hopes for the market’s comeback, and it might happen soon.
BTC’s unknown ailment doesn’t let it get up
Bitcoin has been through major traumatic changes in recent times. The Covid-19 variant, Chinese crackdown, inflation, and the resultant change in the market mood. The lead coin has made several attempts to revitalize and be back on the growth track, but the unexpected changes didn’t let it do so. As mentioned in the previous roundup, experts speculate that it will struggle even in the first few months of 2022, which has affected its performance.
The new drop in the US stocks due to the worsening situation in pandemic has also affected the crypto industry. The liquidation might continue if the situation didn’t change. The investor is searching for a surety that their capital is safe, which has led to liquidation.
The recent change in investor mood has led to a drop in Bitcoin’s price, which is in the $45,927.77 range, which means that it went through a loss of 3.76%. Its loss during the last seven days amounted to 5.22%. The impact of changes in the market is evident from the market cap for Bitcoin, which changed to $868,207,161,092.
Bitcoin’s trading volume has also been affected, which as per the latest updates, is $33,829,824,666. Its performance for the recent days has been recessive, trying to save its current value.
ETH bearish, steadying itself to stay in the safe range
Ethereum, like bitcoin, has been witnessing hard times since the start of December. In the previous months, it made significant gains and crossed high barriers. The recent blows made it recede to positions not expected in the previous months.
Since November, the crypto market has lost up to $1 trillion, and Ethereum and bitcoin have had a fair amount in this. The losses are evidence of what these coins are going through due to a change in investor mood due to global level problems.
The recent loss in Ethereum amounted to 3.91% in the last 24 hours, which was 5.13% during the last seven days. The current market cap for this giant is $452,669,200,931. For the last 24 hours, its trading volume was 6,411,949 ETH, which in US dollars is $24,435,100,872.
Its trading volume has also been affected, estimated to be $24,425,100,872.
AVAX astonishes the market with a bullish mood
The change in mood of the market has made giants suffer, but Avalanche, currently ranking 9th in the list, has made significant gains. It made a spectacular come back during the last 24 hours and gained 5.60%. Its gains amounted to 30.41% in the last seven days, while its price is in the $107.14 range.
The current market cap for Avalanche is estimated to be $26,040,641,647. The trading volume for this coin during the last 24 hours is $2,442,476,688. If we convert this amount to its native coin, AVAX, we get 22,809,768 AVAX.
The gains on the side of this coin are encouraging and show that other coins will also witness a bullish mood.
UNI celebrating its gains
Uniswap is amongst the fortunate coins that have made a comeback in the closing days of December. It made gains amounting to 5.62% in the last 24 hours, while its losses in the past seven days were 2.52%. Its price at the time of writing is $15.26, which has improved since the previous gain.
The current market cap for Uniswap is estimated to be $9,583,109,653. The improvement in trading volume can be seen from the recent figure, which is $265,906,193. The mentioned amount in UNI is 17,424,253.
The improvement in part of some coins is a hope for the recovery market. It is hoped that Uniswap will continue its current momentum.
The mixed changes in the crypto market show that the investors still hope to improve the market. The current changes are natural as there are fears of loss due to changes in the global arena regarding health and other issues. Though the current situation might last for a short while, it has brought significant changes in the market.
The hopes for a recovering market are not yet over, and the change seen on the part of some coins shows that good days might not be away.