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Bitcoin, Ethereum, Tron, and Litecoin Daily Price Analyses – 5 August Roundup

Bitcoin
TL;DR Breakdown
  • The global crypto market has seen a positive change, adding 3.50% in the last 24 hours.
  • The value of Bitcoin has improved as it has gained 2.43% in a single day.
  • Ethereum has also gained momentum, adding 7.76% in the past 24 hours.
  • Tron and Litecoin are also gaining strength as they have 1.61% and 3.26%, respectively.

The global crypto market has seen a continuation of positive changes as the influx continues. The latest data shows that various coins, including Bitcoin, have turned bullish, bringing further market strength. The increase has given Ethereum and other previously bullish coins a push to move ahead in gains. These gains are likely to continue as the market remains positive. It is yet to be seen how long it will be able to continue its gains.

Revolut, a fintech company, has introduced its crypto trading services in Singapore despite the possibility of restrictions. Even though the market has shown a trend of the downturn, various companies have continued to expand their investments. Singapore hasn’t been sure about what restrictions it should put on crypto. Revolut plans to expand its headcount in the company, adding 20% in the near future.

Currently, this firm has received approval from Singapore Monetary authorities. The mentioned service will help convert 27 fiat currencies to crypto. While there will be no exchange fee on the conversion of fiat currencies to crypto. There will be different packages for customers, and they will be able to choose one according to their needs. The company also intends to provide its customers educational services regarding risk and uses.

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

BTC gains traction

Various Bitcoin mining companies have shared the details of the gains that they made through mining. Core Scientific increased its Bitcoin production by 10% in July 2022. The increase took place amid the power cuts in Texas.

BTCUSD 2022 08 06 06 37 35
Source: TradingView

The latest data for Bitcoin shows that it has added 2.43% over the last 24 hours. The weekly data shows a loss of 2.84% for Bitcoin. The latter value needs to improve to enhance the Bitcoin price value.

The price value for Bitcoin is in the $23,232.47 range. The market cap value for Bitcoin has also seen improvement, as it is currently estimated to be $444,309,316,229. The 24-hour trading volume of Bitcoin is about $29,129,197,767.

ETH crosses $1.73K

Bitcoin and Ethereum are eyeing 30% growth in August 2022 as the market remains bullish. The on-chain activity isn’t lackluster, but the two are hopeful about gains. As Ethereum is progressing, it has continued to consolidate, crossing $1.7K. It might continue forward as the merge draws nearer, despite various odds.

ETHUSDT 2022 08 06 06 37 59
Source: TradingView

Ethereum has grown tremendously as its gains increased. The latest data shows an additional 7.76% over the last 24 hours. The seven-day data shows an addition of 0.62%, which might increase further.

The price value for ETH is in the $1,736.10 range. The market cap value for this coin is estimated to be $211,535,785,385. The 24-hour trading volume of this coin is about $19,333,689,058.  

TRX fluctuating

Tron has seen a fluctuation in value as its gains wavered. The latest data shows that it has added 1.61% in 24 hours. The weekly data shows a loss of 0.01% as it is gaining momentum. The price value for TRX is in the $0.06964 range.

TRXUSDT 2022 08 06 06 38 21
Source: TradingView

If we compare the market cap value for TRX, it is estimated to be $6,437,561,360. The 24-hour trading volume of this coin is about $347,762,825. The same amount in its native currency is about 4,992,508,028 TRX.  

LTC growing considerably

Litecoin has been moving vigorously to add further. The latest data shows an addition of 3.26%  over the last day. The weekly data shows that it has gained 0.49%. The increase has enhanced its price value to the $61.90 range.

LTCUSDT 2022 08 06 06 40 03
Source: TradingView

If we compare the market cap value for LTC, it is estimated to be $4,390,697,818. The 24-hour trading volume of this coin is about $459,940,715. The circulating supply of this coin is about 70,878,919 LTC.

Final Thoughts

The global crypto market has seen a comeback as its gains increased. The latest changes have brought Bitcoin and other names to the bullish club. The increase has helped the market regain strength. The enhancement in value has also consolidated 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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