- Variation in the global market cap witnessed, depreciates 0.36%.
- Bitcoin on its way to gains, adds 0.22% to its value.
- Binance Coin and Ethereum, unlike Bitcoin, show a negative tendency.
The recent change in the market has brought a variation in the fluctuations pattern in the recent days. Unlike changes in the prices of bitcoin followed by the other two lead currencies, this time they have remained bearish, and Bitcoin is on the way to high rises. It might also impact their growth and resurgence because of the change in the pattern.
Although Bitcoin has shown uptrends, there is still a reduction in the global market cap due to Ethereum and Binance Coin. Except for Solana and Bitcoin, all other currencies in the top 10 are showing recessive tendencies. The downtrends might not last for long as there are almost daily fluctuations in the market – communities always back up their favorite coins!
Bitcoin adds 0.22% to its value in the last 24 hours
Bitcoin has been the most resilient coin in the crypto market. Its resilience has been the major reason that it remains the top currency. It had shown a mixed tendency for the past seven days, which showed both ups and downs in its value. BTC grew in value and then shed it, which was quite shocking for some investors.
BTC showed a depreciation in the value for the last seven days, which was sporadic and was estimated to be 1.04%. The price recorded for Bitcoin at the time of writing was in the $57,219 range. This rise has also impacted the market cap of Bitcoin, which amounted to $1,080,786,194,088.b
The volume recorded for Bitcoin amounts to $36,673,037,788 which is equivalent to 640,916 BTC. The below chart shows BTC’s price fluctuations, but the recent changes have shown positive growth.
The circulating supply for Bitcoin, at the time of writing, was 18,888,362 BTC. Some aftermath of BTC price fluctuations can be seen here.
Ethereum sheds 1.79% in the last 24 hours
Ethereum used to precede addition to prices in recent days, but this time it has led others in the race of depreciation. All other coins except Bitcoin and Solana are witnessing a negative change in their prices, and Ethereum is one of them. The price recorded for Ethereum at the time of writing was in the $4,614 range.
Even though it has shed its value in the last 24 hours, its performance for the last seven days has been satisfactory. It has added 6.57% in the last seven days, showing an overall positive tendency. The market cap recorded for Ethereum was $547,165,433,065.
The volume for Ethereum at the time of writing was $26,925,781,529. This volume, if estimated in Ethereum, results in 5,834,692 ETH. The overall graph for the weekly performance of Ethereum is green and shows that it has added to its value without making any significant losses.
Its circulating supply is 118,568,213 ETH.
Binance Coin stays steady in the $627 range
Binance Coin has seen a slight depreciation estimated to be 0.30%, which is too small compared to the growth it has made in the last seven days. It bagged 4.21% in the last seven days, adding significantly to its value. This addition means that this minor loss won’t impact its total growth if it keeps a steady momentum.
The market cap for Binance Coin, at the time of writing, was $104,680,451,469. If we look at the volume for this currency in the last 24 hours, we get $2,821,972,346, which is estimated to be equal to 4,496,620 BNB. Like Ethereum, Binance Coin has performed well in the last seven days and has shown positive growth, adding to its value.
The circulating supply for Binance Coin at the time of writing was 166,801,148 BNB.
Polygon adds 25.69% in the last seven days
Polygon (MATIC) is one of the few currencies that have shown growth in the last 24 hours and seven days. It remained bullish and bagged 17.14% in the last 24 hours, which determined its price to be $2.18 at the time of writing.
It currently ranks fifteenth in the list and has a market cap valuing to be $15,341,971,317. The volume recorded for Polygon in the last 24 hours was $3,296,184,988. Polygon’s circulating supply is about 7,021,682,963 MATIC.
Solana adds 11.05% in the last 24 hours
Solana (SOL) is one of the two coins that have shown positive value during the last 24 hours. It ranks fifth in the list, and its current price is estimated to be in the $234 range. Its seven-day performance is also on par with the 24-hour performance, which is 11.69% bullish, showing that it has continued to move forward steadily.
The market cap for Solana at the time of writing was $71,555,440,086. The improvements in the value are also reflected in the volume for the last 24 hours, which is $3,841,164,731. This volume can be converted to an estimated value of 16,399,875 SOL.
Top gainer and loser
For the last 24 hours, the top gainer was Euro Shiba Inu, which added 7214.65% in the last 24 hours, which brought its volume up to $1,412,620.
The top loser in the last 24 hours was Spice DAO which saw a depreciation of 100% in the last 24 hours, bringing its price to $0. Its volume for the last 24 hours is $1,426,821.
The rise and fall in values is part of the crypto market and could continue as long as prevailing market factors are at play. Many coins don’t remain in the long run, as we saw in the top loser of the last 24 hours. In contrast, Bitcoin has shown commendable resilience and resurges soon after depreciation. That’s why experts recommend keeping your crypto investments to less than 5% of your total portfolio.
Over a month ago, the cryptocurrency market marked a new milestone with Bitcoin ETFs, which led to the new historical BTC $65000 price surge. BTC had a rise in its price due to the ETFs could be a simplistic explanation, but what are the market forces at play? We also noted what Mark Cuban said, the ETFs ended successfully, but it is much better to invest in BTC directly.
Even though depreciation is seen in the market, it hasn’t brought a big change in the global market cap, leaving space for recuperation. It will soon rise if Ethereum and Binance Coin accompany the growth of Bitcoin. Many experts expect Bitcoin’s price to exceed $100,000 as soon as next year. What’s your opinion about this? Please tell us in your comments below.