- The global crypto market regains momentum, adding 076% over the last 24 hours.
- Bitcoin was able to reduce the sell-offs, lowering losses to 0.37%.
- Ethereum performs better, adding 1.73% over the last 24 hours.
- Dash and Chiliz are bullish, adding 10.80% and 0.18%, respectively.
The global crypto market regained value at the start of the week as investors flocked towards it. Compared to the close of the past week, it was able to regain momentum as the business returned to normal. The performance would have been much better if the sell-off rate wasn’t that much at the close of the week. The gains were expected to be even better because El Salvador had announced the launch of volcano bonds for Bitcoin. These bonds were expected on 20 March, but no developments were seen. They might get delayed further because of the thinning economic situation of the said country.
The stability of the crypto market is coming from NFTs, which have continued to break records. The enthusiasm for NFTs has led to increased revenue to different blockchain systems, thus adding to their revenue. The recent estimates tell of the worth of NFTs reaching $23 billion as the increase in their value is seen. As per the records from 2020, their worth was about $100 million.
The development of the Indian crypto tax policy might impact the global crypto market. The reason for it is the bulk of investments that Indians have made. The latest news tells of individual treatment of cryptocurrencies based on their value. Recent news told of an estimated tax of 30% on the crypto gains. Here is a brief overview of the current market situation using currencies like Bitcoin, Ethereum, etc.
BTC lowers losses
The decrease in the losses for Bitcoin indicates a good start for the week. In contrast to other weeks, there has been a significant development once the market resumed activities after the weekend. Experts predicted a bullish rally for Bitcoin as the week sets in. If the bullish rally can take Bitcoin high, there are chances that it resumes the previous highs.
The data for the last 24 hours shows that Bitcoin has shed 0.37%. In comparison, its performance over the last seven days shows gains. The addition in the value for the last week is 6.70%. The mentioned value might increase if new investments come to Bitcoin. The current price for Bitcoin is in the $41,418.95 range.
The current market cap value for Bitcoin is estimated to be $786,232,160,152. In comparison, the 24-hour trading volume of Bitcoin is about $23,534,662,305. The same amount in its native currency is 568,429 BTC.
ETH gains momentum
Ethereum has been comparatively better than Bitcoin performance. In contrast, it lowered the value, and the sudden rebound brought it back to gains. Experts predict that its competitors like Solana and others might give it a tough time as their gains might increase.
The data for the last 24 hours shows that it gained 1.73%. Its seven-day performance is also reliable as it has not lowered the value much. The seven-day gains for Ethereum are about 14.07%. The increase in gains has also boosted its price, currently in the $2,933.34 range.
The market cap value for this coin is estimated to be $351,549,413,958. In contrast, the 24-hour trading volume of it is about 14,467,226,528. The circulating supply for this token is about $120,050,768 ETH as per the latest updates.
DASH setting new highs
Dash token has remained bullish over the weekend as well. The value of its gains reached new heights as it clinched 10.80% over the last 24 hours. In comparison, its performance over the past week was even better. It gained 25.54% in the last seven days, which boosted its price value. The current price for this coin is in the $119.86 range. If the bullishness is unimpeded, the price value is expected to increase.
The current market cap value for Dash is estimated to be $1,280,342,497. Comparatively, the 24-hour trading volume also improved as it remained 704,532,151. The same amount in the native currency is 5,851,855 DASH.
CHZ reclaiming value
Chiliz went through a downward trajectory as it couldn’t maintain value over the weekend. The result was a significant decrease in value. The graph for this coin shows that it shed the value for more than two days after it reached the highs for the previous week.
The weekly performance shows that it gained 5.95%. The recent performance is much better as it gained 0.18% over the last 24 hours. The price value has also improved as it reached $0.2038 recently.
The current market cap for this coin is estimated to be $1,215,587,528. While the 24-hour trading volume is about 135,028,494. The circulating supply of Chiliz is 5,995,191,458 CHZ.
The global crypto market revived its value as the gains strengthened it against the previous sell-offs. The result was a new addition to the global market cap value, about $1.88T as per the latest updates. Bitcoin has received much support from the new gains, and another stronghold might become Malaysia. The Malaysian finance ministry has called the government for legislation regarding Bitcoin as it is expected to dominate the world’s investments. If this happens, it would add a significant value to the price of Bitcoin.