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Bitcoin, Ethereum, Polkadot, and Dogecoin Daily Price Analyses – 7 August Roundup

Bitcoin
TL;DR Breakdown
  • The global crypto market has seen a continuous improvement as it has added 1.68%.
  • Bitcoin has also remained bullish over the last 24 hours, adding 1.37%.
  • Ethereum is also improving in value as it has added 1.64% over the last day.
  • Polkadot and Dogecoin are both bullish as they have added 3.30% and 2,21%, respectively.

The global crypto market has continued to attract further gains as investors remain bullish on it. The increase has brought Bitcoin, Ethereum, and others back to bullishness. While the overall trend of the market also shows a trend of bullishness. As the market moves forward, it will likely cross the current resistance level. Also, as the positive tendency is dominant, it will help the market in the upcoming days. It is yet to be seen whether the market will be able to retain gains or turns bearish.

Tiffany and Co. have sold all the NFTiffs it had announced recently. It had announced the sale of 250 NFTs that were to be sold for $50,000 each. The debut has proved a good omen for the company as it sold all the available NFTs in just 20 minutes on Friday. These are in the form of digital passes along with customized pendants.

These pendants contain gemstones and diamonds, while CryptoPunk members can use the NFTs. According to the updates from the official website, the users will be able to redeem their tokens by 12 August. While the custom pendants will be sent to the purchasers next year. Also, if the user sells their NFT before the shipment of the pendant, they won’t be able to receive the pendant.

Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.

BTC retains momentum

Analysts from various renowned names have continued to leverage Bitcoin for its benefits. According to a senior Bloomberg analyst, Bitcoin is trading at a discount. According to the mentioned analyst, Bitcoin stands a chance to become the global digital collateral.

BTCUSD 2022 08 08 07 59 20
Source: TradingView

The latest data for Bitcoin shows that it has added 1.37% over the last 24 hours. The weekly data also shows an improvement as it has reduced losses to 0.51%. The increase will help the various metrics for Bitcoin to show improvement.

The price value for Bitcoin is in the $23,308.38 range. If we compare the market cap value for Bitcoin, it is estimated to be $445,423,866,692. The 24-hour trading volume of this coin is about $16,014,491,596.

ETH growing stronger

Some of the Ethereum NFTs have seen a massive rise in the sale. One of them is CryptoDickButts, Ethereum-based NFTs that have seen a surge of 690%. Their sales volume increased tremendously due to the influx from prominent influencers. They have praised the CDB community for the inflow of funds.

ETHUSDT 2022 08 08 07 59 52
Source: TradingView

The latest data for Ethereum shows that it has added 1.64% over the last 24 hours. The weekly data shows an addition of 1.07%. Its regain of momentum shows that it has a chance to improve its price value.

The current price value for Ethereum is in the $1,712.92 range. If we compare the market cap value for this coin, it is estimated to be $208,648,054,087. The 24-hour trading volume of the same coin is about $9,960,427,702.

DOT adds further gains

The value of Polkadot has also seen improvement as the market remains bullish. The increase has helped it add 3.30% over the last 24 hours. The seven-day data shows a depreciation of 0.43%. As the gains have improved, the price value for DOT has hiked to the $8.82 range.

DOTUSDT 2022 08 08 08 00 27
Source: TradingView

If we compare the market cap value for Polkadot, it is estimated to be $9,733,974,124. The 24-hour trading volume of this coin is about $348,508,877. The same amount in its native currency is about 39,556,473 DOT.

DOGE strengthening

Dogecoin has also strengthened its value amid the bullish market. As the market moves ahead, DOGE has added 2.21% over the last 24 hours. The seven-day data shows a loss of 0.09%. As the influx has strengthened, the price value for this coin has improved to the $0.06987 range.

DOGEUSDT 2022 08 08 08 01 22
Source: TradingView

The market cap value for DOGE is estimated to be $9,261,534,943. The 24-hour trading volume of the same coin is about $198,075,904. The circulating supply of this coin is about 1,104,826,045 DOT.

Final Thoughts

The global crypto market has seen an improvement resulting from the recent influx of capital. The mentioned change has brought strength to the market. The value of Bitcoin, Ethereum, Binance Coin, etc., has improved. The increase has also enhanced the global market cap value. It is currently estimated to be $1.10 trillion. 

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Muhammad Ali

Muhammad Ali

Muhammad Ali is an expert on crypto investments. Loving to write about fintech, he joins the team to provide detailed analyses of the hottest crypto news.

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