The global crypto market has seen a positive trend after facing losses for a couple of days. The change has come as a good omen for Bitcoin, Ethereum, and others eager to cross the previous resistance levels. As the market has changed its direction, there is hope for more gains. The change in the influx of capital affected the momentum. As the market has gained momentum, investors will benefit from these changes. Also, the market value is likely to increase as the positive trend continues.
Do Kwon faces a fresh $57 million lawsuit from investors. After being prone to be arrested in South Korea and USA, Kwon now also faces charges in Singapore. Investors have filed the new lawsuit. The founder of Terraform Labs and creator of algorithmic stablecoin Terra UST has continued to face problems after the collapse of Terra. The new lawsuit was filed by more than 350 aggrieved investors who lost nearly $57 million in the UST de-pegging event.
The class-action lawsuit alleges Do Kwon that he and his subordinates intentionally misrepresented the price stability of Terra UST. The investors believed that it was a stablecoin and pegged to US Dollar. Furthermore, they have alleged him of building Anchor Protocol, which lured the users into further investments. Thus, they fell for unrealistic promises, causing them huge financial losses.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC attempting to revive
Lugano and El Salvador have signed an agreement to promote Bitcoin adoption. The Latin American country and the Swiss city signed a memorandum of agreement on economic cooperation. The cooperation will be based on the enhancement of the use of Bitcoin.
The recent changes for Bitcoin show a continuation of the positive trend. The latest data shows that it has added 1.85% over the last 24 hours. The weekly data shows that it has added 7.69%.
The price value for BTC is currently in the $20,638.73 range. The market cap value for Bitcoin is estimated to be $396,103,221,699. The 24-hour trading volume of this coin is about $42,027,167,806.
ETH reaching new highs
Ethereum developers are trying to leverage price surge as the smart contracts reach a new high. Ethereum has rallied with other coins in the market, reaching new highs. The developers also have plans to benefit from this situation.
The performance of Ethereum has also shown a positive trend recently. The latest data shows that it has added 3.06% over the last 24 hours. The weekly data shows that it has added 20.09%.
The price value for ETH is currently in the $1,560.16 range. The market cap value for this coin is estimated to be $190,286,717,767. The 24-hour trading volume of the same coin is about $18,760,167,186.
ADA in gains
Cardano‘s value also rose due to the recent influx of capital. The latest data shows that it has added 4.83% over the last day. The seven-day data shows that it has added 16.39%. The positive trend has resulted in the hike of ADA price value to the $0.403 range.
The market cap value for Cardano is estimated to be $13,863,977,949. The 24-hour trading volume of this coin is about $590,245,606. The same amount in its native currency is about 34,318,059,350 ADA.
SHIB continues to rise
The performance of Shiba Inu has also shown a rise in value. The recent data shows that it has added 13.17% over the last day. The weekly data shows that it has added 18.54%. The price value for SHIB is currently in the $0.00001184 range.
The market cap value for Shiba Inu is estimated to be $6,474,310,801. The 24-hour trading volume of this coin is about $839,507,987. The circulating supply of this coin is about 549,063,278,876,302 SHIB.
The global crypto market has seen a trend of gains as bullishness continues. The latest data shows that the value of Bitcoin, Ethereum, and others grew considerably. The ongoing changes have strengthened the global market cap value as well. The latest data shows that it is estimated to be $1.00 trillion.