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Bitcoin, Ethereum, Polygon, and Ethereum Classic Daily Price Analyses – 8 August Roundup

Bitcoin
TL;DR Breakdown
  • The global crypto market has remained bullish, adding 1.77% over the last 24 hours.
  • The performance of Bitcoin has shown fluctuations as it has added 2.29% in the last day.
  • Ethereum has remained bullish as its gains amounted to 3.85% for the last day.
  • Polygon and Ethereum Classic are also bullish as they have added 0.65% and 1.34%, respectively.

The global crypto market has continued to see bullishness from investors. The value of Bitcoin, Ethereum, and others has shown a positive trend. In comparison to the previous day, there have been fluctuations in gains. As the market has continued bullish, it shows indications of possible bearishness. The inability of the various coins to retain bullishness can result in possible bearishness. It is yet to be seen how long the market will be able to retain the ongoing bullish wave.  

Moonbirds, a popular NFT platform, has changed its copyright model, affecting some users. The abrupt copyright switch has resulted in the displeasure of investors. According to the available information from the Twitter handle of Moonbirds co-founder Kevin Rose, they and Oddities will adopt the Creative Commons CC0 copyright code. As the mentioned change has been made, the users’ art is now public domain.

There are no restrictions on distribution, augmentation, and commercialization. Also, there is no need for the users’ consent when performing any of the above actions. According to Rose, the terms of services will be updated accordingly. The users have hit back, claiming that they bought these NFTs, believing that they would be the exclusive owners of their owned products.    

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

BTC unable to stay at $24K

Bloomberg analysts have continued to predict bullishness for Bitcoin, claiming its possible rise to $100K. According to the senior commodity strategist for Bloomberg Intelligence, Mike McGlone, the value of Bitcoin at $100K is just a matter of time. He has referred to ‘enduring trajectory’ as the reason for it.  

BTCUSD 2022 08 09 07 40 04
Source: TradingView

The latest data for Bitcoin shows that it has added 2.29% over the last 24 hours. The seven-day data shows an addition of 3.60%. The bullish wave for Bitcoin has continued to consolidate it.

The price value for Bitcoin is in the $23,775.99 range. If we compare the market cap value for Bitcoin, it is estimated to be $454,200,900,742. The 24-hour trading volume for Bitcoin is about $28,726,638,727.  

ETH facing lag

Ethereum-mixer Tornado cash is one of the recent victims of US sanctions. The result has been sanctions from various companies and the freezing of accounts. Circle has frozen blacklisted Tornado Cash smart addresses. Its DApp-level smart contracts have continued to face blocking from various companies.

ETHUSDT 2022 08 09 07 40 43
Source: TradingView

The value of the Ethereum has improved, but the recent data shows lag. According to the available information, it has added 3.85% over the last 24 hours. The weekly data shows an addition of 10.68%.

The price value for ETH is in the $1,770.82 range. If we compare the market cap value for this coin, it is estimated to be $215,758,818,891. The 24-hour trading volume of the same coin is about $16,935,056,647.

MATIC continues bullish

Polygon has also continued bullish due to the favorable market. The increase has helped it add 0.65% over the last 24 hours. The weekly data shows an addition of 6.06%. As the gains have increased, its price value saw a hike to the $0.9194 range.

MATICUSDT 2022 08 09 07 41 29
Source: TradingView

The market cap value for MATIC is estimated to be $7,389,503,072. The 24-hour trading volume of this coin is about $449,176,451. The same amount in its native currency is about 488,401,545 MATIC.

ETC adding more

Ethereum Classic has also seen a positive change in value. The latest data shows a gain of 1.34% for it over the last 24 hours. The weekly data shows an addition of 14.14%. The increase has raised its price value to the $37.68 range.

ETCUSDT 2022 08 09 07 42 30
Source: TradingView

If we compare the market cap value for ETC, it is estimated to be $5,133,579,221. The 24-hour trading volume of this coin is about $1,143,662,775. The circulating supply of this coin is about 136,251,521 ETC.

Final Thoughts

The global crypto market has seen a continuation in the improvement of value. The latest data shows a considerable growth in the overall performance. Though Bitcoin and some others fluctuated, there is an overall trend for positive movement. The global market cap value has also remained stable as the gains continue. It is currently estimated to be $1.12 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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