TL;DR Breakdown
- The global crypto market has lost 0.49% in the last 24 hours.
- Bitcoin has added 0.48% in the last 24 hours.
- Ethereum, in a bearish mood, has lost 1.49% in the last 24 hours.
- Dogecoin and Shiba Inu continue to lose; the losses for the last 24 hours are 2.28% and 2.92%, respectively.
The global crypto market is struggling for change in the mood of investors and striving for stability. The situation is a mix of additions and losses to the bulk. There is no continuous pattern seen in the market as the fluctuations continue. As a result of the changes, that global market cap is unable to expand, and thus, the investors might feel insecure as the receding market might make them lose their money.
As the marketing is going through a transformational phase, there are changes seen in increased investments in NFTs and metaverse. The latest move is from Microsoft, which has announced that they will be buying Activision for $69B. Microsoft might be able to hold back the losses it faces because of the competitors in Web 3.0 and metaverse.
As the influence of crypto is growing, some opposition is seen from governments and other authorities. News from Georgia says that citizens were sworn to stop mining crypto from protecting the energy spent on mining.
Here is a brief overview of some of the major currencies in the crypto world.
BTC fluctuates in search of stability
Bitcoin has been relatively stable in comparison to other coins in recent times. The graph for bitcoin shows that its journey was a mix of gains and losses, thus not being disturbed much. Though bitcoin would have been progressing in price, it didn’t happen, and it seems stuck in the $43K range.
The current bitcoin price is estimated to be $42,415.53, while the market cap is about $803,162,048,075. The trading volume for bitcoin during the last 24 hours is estimated to be $22,215,885,170.
For the last 24 hours, the performance shows a gain of 0.48%, while the weekly performance tells of a loss of 0.54%. The fluctuations might continue as the previous data shows that it didn’t go through a major gain or loss in recent days.
ETH is in a miserable situation
Ethereum has turned bearish after gaining significant amounts. The recent data says that it has depreciated 1.49% during the last 24 hours, while the data for the last seven days shows a loss of 2.01%.
The current market cap for Ethereum is estimated to be $377,655,297,941. The trend for gains in the case of Ethereum is different from bitcoin, and it has suffered losses. The current price for Ethereum is in the $3,166.56 range.
The trading volume for the said coin during the last 24 hours is estimated to be $12,807,373,681. The mentioned amount in its native currency is 4,043,032 ETH.
DOGE turning bearish after new gains
The market situation for Dogecoin is changing as it has changed the mood after its new gains. The data for the last 24 hours shows that it has depreciated 2.28%, while the weekly data shows that it has gained 8.35%.
The current price for Dogecoin is in the $0.1658 range, while it has seen significant growth after the announcements from Elon Musk. The gains might continue because if Tesla supports this coin, there is a possibility of gains ahead.
The current market cap for this coin is estimated to be $22,012,178,270. If we take a peek at its trading volume, it is estimated to be $897,847,365.
SHIB losing momentum after a successful period of gains
Shiba Inu has been a successful coin in making new additions to its bulk compared to other coins. The situation of gains for Dogecoin and Shiba Inu was no different, and both have gained much during the recent days.
The data for the last 24 hours shows that Shiba Inu has lost 2.92% during the last 24 hours. Compared to this, the weekly gains amount to 1.31%. The current price for Shiba Inu is in the $0.0000282 range, while its rank is 14.
The current trading volume for Shiba Inu is estimated to be $792,962,125. The mentioned amount can be converted to its native coin value of 28,050,440,038,297 SHIB.
Final Thoughts
The market situation is currently stable as no major change has taken place in the last 24 hours. The major coins like Bitcoin, Ethereum, and Binance coin have changed, but no major upset has taken place in their value. Their growth is expected to happen soon as new investments in NFTs and metaverse projects will help them soar higher.
If the market stays stable and the investors feel safe, they will add to the value of the coins in the form of investments. There are hopes for growth in the upcoming days as the coins seem to be in a relatively bullish mood. As bitcoin has a significant share in the market, so any improvement from its side might have greater impacts.
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