TL;DR Breakdown
- The global crypto market continues to grow, adding 1.08% in the last 24 hours.
- Bitcoin is also bullish as it has added 1.72% over the last 24 hours.
- Ethereum is following Bitcoin closely, adding 0.71% in 24 hours.
- Polkadot and Dogecoin have also changed direction, showing bullishness of 0.78% and 1.05% in 24 hours.
The global crypto market is again in gains, adding further value to the bulk. The change follows the same pattern that has continued for more than a week. The market has remained relatively stable after the new pattern emerged. Though there are setbacks in value regarding different currencies, there has been no significant depreciation in the value of currencies. Along with that, the total market has remained oscillating in the specific value range.
The investments towards the crypto market continue as the new addition is from former Disney CEO Bob Iger, who has invested capital in a meta company. Bob has focused his investment on metaverse company Genies, which is considered an important step. There are chances that his followers will also follow this step as he would have invested, keeping in view the prospects of this company.
On the other side, the EU parliament has rejected the suggestion to ban POW currencies. These included major coins like Bitcoin, Ethereum, etc. EU couldn’t afford to ban these currencies as they hold an important place amongst investments. Bitcoin is in close competition with futures and gold. For this reason, there is little chance that it would be banned. Along with that, it has elaborate plans for the future decentralized economy, so many countries can’t afford to ban it.
Here is a brief overview of the market situation using currencies like Bitcoin, Ethereum, and other significant names.
BTC attempts fresh increase
Bitcoin has taken the road to growth after the good news from the EU came. The result was increasing bearishness which added to its value. The result was an increase of 1.72% in the last 24 hours. While the institutional acceptance of crypto, especially Bitcoin, adds to its value. Instead of price fluctuations caused by the brief rally, a regular increase in its stability is witnessed.
The data for the last seven days shows that Bitcoin gained 0.42%, changing the bearish pattern. The rally towards Bitcoin might take it back to the highs it witnessed before the Ukraine-Russia conflict escalated. The current price for Bitcoin is in the $38,785.54 range.
If we take a peek at its market cap, it is estimated to be $735,284,652,035. At the same time, the 24-hour trading volume is estimated to be $24,567,945,442. The mentioned amount in the Bitcoin blockchain‘s native currency is 634,298 BTC.
ETH follows Bitcoin trail
Ethereum was in a bearish mood before the latest market rally changed its direction. Bitcoin mainly influences the new gains. The data for the last 24 hours shows that Ethereum has gained 0.71%. At the same time, the weekly performance has also turned green as the gains are about 0.27%. The new addition has slightly changed Ethereum’s price, which is currently in the $2,548.71 range.
As per the latest updates, its market cap value is estimated to be $305,754,734,369. The 24-hour trading volume of Ethereum enhanced with the latest rally, and its value is about $11,557,069,132. The said amount can be converted to 4,534,462 ETH.
DOT continues adding
Polkadot has also continued to gain value after the market has remained favorable. Also, Polkadot is considered one of the favorite currencies for 2022 as it is expected to show exceptional gains. The data for the last 24 hours shows that it has gained 0.78%, while the weekly gains are about 4.76%.
The price has enhanced to $17.41 as new gains added to its value. The latest value of the Polkadot market cap is estimated to be $17,196,863,075. In comparison, the 24-hour trading volume of this coin is estimated to be $690,755,959.
The circulating supply of Polkadot remained 987,579,315 DOT over the last 24 hours.
DOGE enhancing its value
Dogecoin has turned from losses to gains over the last 24 hours. The latest data shows that Dogecoin gained 1.05%. In comparison, the last seven days of it show a bearish performance. The change in market trend has taken its price to the $0.1125 range.
The current market cap for Dogecoin is estimated to be $14,915,969,023. In contrast, the 24-hour trading volume of this coin is estimated to be $830,066,317. The circulating supply for Dogecoin over the last 24 hours remained 132,670,764,300 DOGE.
Final Thoughts
The global crypto market has gained value after the new changes have brought it an additional value. The new change has led to the rise of the global market cap to $1.72T. The EU vote mainly influenced the increase, which added to Bitcoin and Ethereum confidence. The result was a resumed rate of investments in these two coins in the last 24 hours. The upcoming 24 hours might be more bullish as there are chances that the customer trust will play its role.
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