- The global crypto market continues to gain value as the bullishness continues, adding 3.84% in 24 hours.
- Bitcoin has also remained bullish, though the margin of gains has been reduced, adding 3.9
- Ethereum is also bullish as its gains continue, adding 3.98% over the last 24 hours.
- The gains for Litecoin and Cosmos also continue as they added 4.16% and 3.70%, respectively.
The performance of the global crypto market remained satisfactory as the gains continued undisturbed at the start of the first working day. The changes were optimistic for the market that went through constant depreciation. The negative changes alarmed the investors because the constant decrease in value had affected their portfolios. As the market has changed direction, the gains have attracted a new influx of capital. Though the value of gains hasn’t been as high as it was at the start of Monday,
The news about money laundering and crime using crypto is disturbing for investors and state regulators. An Indian minister has called for global crypto rules that would prevent the use of crypto for money laundering and other illegal activities. Even though state authorities in the different parts of the world are working on enhancing the mechanisms to prevent its use for crime, Bitcoin and other currencies continue. Even though the chances of a global mechanism for curtailing crypto’s use for crime are yet rare, it might not be that effective.
Here is a brief overview of the current market situation using the performance of Bitcoin, Ethereum, and some other names.
BTC preparing for $41K
Bitcoin has made gains that could stabilize the balance between its losses and gains. The first day of the week helped Bitcoin reach above the threshold level. While the start of the second day is even better, which may help it achieve significant gains. US representative has introduced a crypto bill to help deregulate power zones in Louisiana. This will help with the improvement of Bitcoin mining.
According to the latest data, the daily gains for Bitcoin are about 3.93%. If we compare the weekly performance, the addition is about 0.88%. As the Bitcoin market continues to attract new funds, it will increase the price value.
The current market price for Bitcoin is about $40,968.82. If we compare the market cap value, it is estimated to be $778,886,914,868. In contrast, the 24-hour trading volume of Bitcoin is about $31,838,243,169.
ETH unable to reach $3.1K
Ethereum has also remained bullish, following in the footsteps of Bitcoin. It hasn’t been able to clinch the $3.1K target, even though its gains are far higher than Bitcoin. Ethereum Foundation has also disclosed the amount that it holds in its treasury which, according to the official sources, is $1.6 billion.
The latest data for Ethereum shows that it has gained 3.98% over the last 24 hours. If we compare its weekly performance, it shows bears in a dominant mood. The value of weekly losses is about 0.39%. The said amount is low and might change if the value of daily gains increases.
If we look at its price value, it is in the $3,060.91 range. In comparison, the market cap value of Ethereum is estimated to be $368,675,747,069. The 24-hour trading volume of Ethereum remained at $16,561,193,846.
LTC changes momentum
Litecoin is also in a bullish mood even though the gains have reduced. The recent data shows that Litecoin has added 4.16%. If we look at its graph, the slight decrease in the value might indicate the lowering influx of funds. The current price value for Litecoin is about $111.48.
The market cap value for Litecoin improved following the new changes in the market. It is currently estimated to be $7,825,956,745. In comparison, the 24-hour trading volume remained at $731,822,942. The circulating supply for it is about 70,102,781 LTC.
ATOM continues bullish
Cosmos is also enjoying the favorable market as the changes have helped attract new investments. The data for the last 24 hours shows that it has gained 3.70%. The weekly performance has also improved following the new gains. It has reduced the depreciation value to 1.03%.
If we take a peek at the market cap value for Cosmos, it is estimated to be $6,607,024,092. In comparison, its 24-hour trading volume of it remained at $494,873,061. The same amount in its native currency is about 34,979,507 LINK. The price value for it has improved and is currently in the $14.15 range.
The enhancement in the global crypto market has helped the retaining of funds. Previously there was a dominant trend of the customer pulling out their investments, but the new wave of bullishness halted it. The stability in the market has also helped increase the market cap value, which is currently about $1.90T. The increase in bullishness will further strengthen it, but the condition for it is improvement in the market. Even if there are fluctuations in the market, it will affect coins.