- The global crypto market continues bullishly, adding 3.48% over the last 24 hours.
- Bitcoin found the market stable over the last 24 hours, gained 2.65%.
- Ethereum gained 4.42% in 24 hours, making significant progress.
- Dash and Loopring are also in a gaining mood, added 6.27% and 9.47%, respectively.
The bullish trend has lasted for an extended period as the market has continued without any worries. The difference this time was the mix of sell-offs and gains, as there has been no significant increase seen in the value of the majority of the coins. The market had been waiting for stability, and it has come after a lasting bearishness. The recent gains brought a sense of uncertainty as there was no surety if the skyrocketing market could retain this momentum. The brief interlude resulted from short-lasting bearishness, which affected some coins, and the notable amongst them was Bitcoin.
Coinbase is extending its support for Solana, and the recent development in this regard is the release of an update that will ensure that the Solana ecosystem gets support. The said update is expected to support Solana and SPL coins making this marketplace even broader. The new developments in the crypto market would have widespread effects on the American market. There are chances that Americans would begin considering them for their retirement plans. It will replace futures, stocks, gold, and other significant investments if this happens. If the adoption is mainstreamed, there are chances that crypto, especially Bitcoin, will grow faster than expected.
Here is a brief overview of the current market situation using the performance of currencies like Bitcoin, Ethereum, and some others.
BTC stays stable
Bitcoin has remained stable over the last 24 hours, and the recent metrics tell that it is eyeing $61K. Though it was able to achieve $59K back in November 2021, there are chances that it would be able to regain even bigger value if the market didn’t change its mood to bearish.
The data for the last 24 hours shows that Bitcoin has gained 2.65%. While in comparison, its past seven days were even better, bringing its gains of 6.77%. The new gains have kept its price stable as it is currently in the $41,724.98. The upside for Bitcoin is about 48% which signals stronger chances of growth.
The current market cap value for Bitcoin is about $792,459,374,744. In comparison, the 24-hour trading volume of Bitcoin is estimated to be $24,584,662,884. The same amount in Bitcoin native currency is 589,064 BTC.
ETH retaining momentum
Ethereum has remained relatively better compared to Bitcoin as it was able to gather 4.42% gains over the last 24 hours. In comparison, the gains for the last seven days were about 14.26%. The new gains have led to a hike in its value as it is currently in the $2,950.14 range.
Crypto investors are eagerly waiting for it to crack the $3K value. As it exhibited lags in the value over the last 24 hours, there are chances that the boost might take time. So, the investors might have to wait a long while to achieve this target.
The market cap value for Ethereum is estimated to be $354,166,148,561. While the 24-hour trading volume of this coin is about $14,900,047,742. The circulating supply of it remained 120,024,920 ETH.
DASH continues to gain
Dash token has also benefitted from the ongoing bullish trend in the market. The result has been in the form of gains amounting to 6.27% over the last 24 hours. These gains took its value to $100.72 as its price soared. The weekly performance for this coin is also satisfactory as it has gained 3.64%.
The value of the market cap for this coin is estimated to be $1,070,795,938. While the trading volume of this coin remained $216,544,498. The same amount can be converted to its native currency, valuing 2,150,030 DASH.
The circulating supply of this token was 10,631,732 DASH over the last 24 hours.
LRC following an upward trend
Loopring also utilized the opportunity to add further to its value. The result was gains of 9.47%, even higher than Bitcoin and Ethereum. The weekly performance of this token also shows satisfactory results as it has gained 10.61%. These gains have strengthened its price value in the $0.7786 as per the latest updates.
The current market cap for this coin is estimated to be $1,035,236,354. The 24-hour trading volume of this coin remained at $203,852,317. The circulating supply for Loopring was 1,329,675,414 LRC over the last 24 hours.
The situation for the global crypto market remained favorable as the market was able to add further gains to its bulk. The result was an increase in the value of the global market cap, which is currently in the $1.89T range. If the gains continue, their value might go even stronger. The change had been signaled by strengthening Bitcoin value which brought widespread changes in the market. Though there has been a lag seen in value over the last 24 hours, there are hopes that the market would be able to face any unfavorable situation without any loss.