- The global crypto market revives, adding 1.76% over the last 24 hours.
- Bitcoin has begun to gain value by adding 2.00% in 24 hours.
- Ethereum is also bullish, adding 3.64% in 24 hours.
- Theta Network and Helium are bullish, adding 1.76% and 3.56% over the last 24 hours.
The global crypto market has seen a rally over the last 24 hours as new gains have strengthened the market. The repercussions of Elon Musk’s statement about not selling Bitcoin have continued. The result is an increased rally of investments towards Bitcoin and other cryptocurrencies. The dominant trend of selling crypto has changed to purchase, fostering new gains. The rally isn’t only limited to Bitcoin, the increase of value in Dogecoin is an indicator of how things might go shortly.
El Salvador has continued to stick to Bitcoin despite the market difficulties. Global financial institutions like the IMF tried to change the legal tender from Bitcoin, but there was no positive development. El Salvador will be one of the primary gainers from this bullishness if the market remains bullish. El Salvador’s decision has impacted political leaders worldwide, and there are chances that other countries might soon adopt it. In comparison, local governments are also trying to use to boost equality.
Though there is increased acceptance for crypto, the carbon costs issue needs to be solved. If there is on solution sought for it, there are chances that it will lead to legislation across the globe. Here is a brief overview of the market situation using the performance of Bitcoin, Ethereum, and some other cryptocurrencies.
BTC closing to $40K
Bitcoin has gained courage after the new purchases added to its value. Instead of stopping at a specific value, it gathered new additions. Thus, it has resulted in gains amounting to 2.00% over the last 24 hours. While if we compare the weekly data, there has been a positive reinforcement of 1.36%. The new additions have taken its value to the $39,695.86 range.
The impacts of the positive statement from Elon Musk are not limited to daily gains. Rather, they have strengthened investors’ trust who felt discouraged with its losses. The result has been an increase in the value of the market cap, which is currently estimated to be $749,088,103,028. While if we compare the 24-hour trading volume, its value has also enhanced due to constant activity. Its value is about $23,682,336,663. The number of Bitcoin traded over the last twenty-four hours is 600,192 BTC.
ETH reviving value
Ethereum has also been one of the gainer coins after Bitcoin speeded up the bullish rally. The new gains for Ethereum have been 3.64% over the last 24 hours. In comparison, the gains for the last seven days are relatively low, amounting to 1.00%. The weekly performance for this coin shows that it has fluctuated in value, and the new gains have taken it to a new high in the recent few days.
The market cap value for Ethereum has enhanced over the last 24 hours. The current value of it is estimated to be $316,659,949,697. The value enhancement has led to a higher price value estimated to be $2,639.35. The 24-hour trading volume of Ethereum is estimated to be $12,539,232,752.
The circulating supply of Ethereum remained 119,976,459 ETH over the past 24 hours.
THETA gains momentum
Theta Network has also benefited from the new boost in the market value. The last 24 hours proved productive as it gained 1.76% over the last 24 hours. In contrast, the weekly performance of this coin shows a loss of 5.77%. The price for THETA is in the $2.76 range.
The current market cap for Theta Network is estimated to be $2,762,729,299. The trading volume of this coin for the last 24 hours amounted to $183,796,285. The circulating supply for this coin was 1,000,000,000 THETA.
HNT is on the way to furthering gains
Helium has also changed course as a result of the new bullish trend. The gains for it amount to 3.56% over the last 24 hours. If we compare the seven-day percent losses, these are about 0.71%. The current price for HNT has improved to $21.33 after the new gains strengthened its value.
The market cap value of Helium is estimated to be $2,416,668,287. In contrast, the 24-hour trading volume of it is about 25,402,445. The mentioned amount in its native currency is about 1,191,031 HNT. The circulating supply for this coin was 113,309,057 HNT.
The global crypto market has begun to recover in value as gains for Bitcoin, and other currencies are soaring high. The new additions have brought the market value to $1.76T, higher than in the previous days. While these gains are mainly the result of crypto-friendly decisions, there is a need for consistency. Austin might be the next in the row of those cities welcoming Bitcoin for public use. Various other examples are mainstreaming crypto bringing it for common use.