- The global crypto market continues to be bearish, sheds 1.27%.
- Bitcoin sees no hope, shedding 0.70% in 24 hours.
- Ethereum also remains bearish, shedding 2.06%.
- Terra LUNA gains 1.29%, while Polkadot loses 1.50% in the last 24 hours.
The crypto market continues in an uncertain situation. The gains made over the last few days haven’t eroded, but the bearishness might make it happen. The market isn’t sure about the direction as it has fluctuated but has not shed significantly. Thus, the change has been of no bigger value so far. In contrast, the market had shed a major value during the recessive bouts it went through during the past few months. The evident example was the continuous decrease in the global market cap.
The major change since December 2021 has been that of the relative stability in the market because of user adoption. The new changes have ensured that more investors have joined it. Though the idea of Web 3 is still in development, the increase in crypto value has been attributed to it. On the other hand, crypto has also taken the place of a weapon in digital warfare. Its example is the recent calls for blockage of Russian wallets by Ukrainian and European leaders. Thus, crypto is set to play an important role in the upcoming times.
The winter for crypto seems to have ended as Bitcoin has been relatively stable in recent days. Bitcoin and other currencies seem to replace the dollar as the recent conflict saw the flow of cryptocurrencies like Bitcoin, Ethereum, etc., to Ukraine. Thus, it shows how times are changing, adding value to crypto.
Here is a brief overview of the crypto market using currencies like Bitcoin, Ethereum, and some other currencies.
BTC recedes further
Bitcoin remains the top coin since it is the founding currency of the crypto market. For this reason, its share in losses and gains is more than any other coin. Similarly, the recent market change has been steered by Bitcoin. As Bitcoin has stayed stable, the market has also remained relatively stable, not shedding bigger value.
The data for the last 24 hours shows that Bitcoin has shed 0.70%. Comparing the data for the last seven days shows that it has gained 23.84%. The current price for Bitcoin is $43,624.69. Its price has lowered due to market changes. The graph for Bitcoin shows that it has fluctuated for the last 24 hours but hasn’t been through a major loss.
The current market cap for Bitcoin is estimated to be $826,257,119,224. In comparison, the 24-hour trading volume of Bitcoin is about $27,752,054,380.
ETH continues to shed value
Ethereum has sped up its losses, unlike Bitcoin. Over the last 24 hours, its performance shows that it has lost 2.06%. If we look at the performance for the previous seven days, it has gained 23.77%. Its price has also decreased due to value shedding and is about $2,918.15.
If we look at the market cap of Ethereum, it is estimated to be $349,127,210,019. The trading volume for the last 24 hours is estimated to be $13,729,143,980.
LUNA continues bullish
Terra LUNA has remained good since the market took a bullish turn. Since then, it has added a significant value, evident from its gains for the last seven days. These are about 78.40%, more than any other currency in the top-10 list. It continues to gain value as investors have poured their capital into this currency.
The current market cap for Terra LUNA $34,628,741,730. In comparison, its trading volume for the last 24 hours is estimated to be $3,702,940,374. It might continue to grow if the gains continue.
DOT turns bearish
Polkadot has changed direction after the continuous gains. For the last 24 hours, its performance shows that it has shed 1.50%. The performance for the last seven days shows that it has gained 26.68%. The current price for this coin is about $18.49 while ranking it 11th in the global list.
The market cap for Polkadot is estimated to be $18,201,912,362. If we look at the trading volume of this coin, it is about $1,050,397,700. The graph for its performance shows that it has remained stable for the previous few days but changed in the last 24 hours.
The market has again changed course, and its value has reduced to $1.92T. The changes have taken its value higher than the previous one. The market might strengthen further from the changes in global politics. The donations in crypto toward Ukrainians have kept the market afloat, and the result is in the form of a stable market cap. It might improve if the investors feel that their capital will remain safe.