The global crypto market took a breath of respite as the last few hours made it bullish. The recent changes show that it has grown a bit. The positive change in the market is a good sign for the market, which saw repeated bearish waves. The value of Bitcoin hasn’t shown any improvement yet, while others have seen a positive change. There is a mixed situation in the market where different tokens have exhibited different trends. The ongoing situation of uncertainty might last for a while.
Tech giant Samsung might soon enter the crypto industry with a trading platform. According to available updates, some major investment firms are planning to enter the crypto industry. A recent report from a local news outlet claims that regulations might change after the election of the new president. Yun Seok-Yeol might be the new president who has promised economic stability.
Seok-Yeol has made some big promises, including economic stability for all classes, changing relationships with China, and implementing crypto-friendly policies. Various domestic securities firms have applied for a license from the regulator. These licenses are expected in Q3 or Q4 of 2022. One of these names is Samsung Securities which serves as the financial arm of Samsung Inc.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC takes a reverse plunge
Bitcoin has seen another red weekly close despite attempts to recover value. The investors have remained bearish on Bitcoin as the sell-offs continue. These changes have forced it to stay in a bearish mood while it couldn’t cross the recent resistance levels.
The value of Bitcoin still remains low despite various attempts for recovery. The latest data shows that Bitcoin has receded 0.56% over the last day. The weekly performance of Bitcoin shows a loss of 11.61%.
The negative changes have kept the Bitcoin price at the $21,328.42 range. The market cap value for BTC is estimated to be $407,992,921,991. The 24-hour trading volume of this coin is about $32,028,116,765.
ETH stays bullish
Ethereum Classic has remained one of the leading beneficiaries of the Ethereum merge. According to recent updates, the ETC hashrate has reached a new all-time high. The investors have continued to pour money into ETC for increased benefit. ETC saw an increase of 150% in the previous month, adding to the profits of its investors.
Ethereum has remained bullish as it continued to reap profits. The latest data shows that it has added 1.25% over the last 24 hours. The weekly data shows a loss of 14.25% for ETH.
The price value for Ethereum is in the $1,625.73 range. The market cap value for this coin is estimated to be $198,457,121,114. The 24-hour trading volume of this coin is about $18,570,156,536.
UNI continues bearish
Uniswap has been bearish due to the downwards pull. The latest data shows that it has shed 1.89% over the last 24 hours. The weekly data shows that it has regressed by 16.96%. The price value for UNI is in the $7.03 range.
The market cap value for Uniswap is estimated to be $5,240,623,098. The 24-hour trading volume of the same coin is about $180,468,013. The same amount in its native currency is about 25,674,997 UNI.
ATOM on a speedy rise
Cosmos has also been in a bullish mood as it added a considerable amount. The latest data shows that it has added 11.24% over the last 24 hours. The weekly data shows that it has added 2.85%. The price value for ATOM is currently in the $11.77 range.
The market cap value for Cosmos is estimated to be $3,371,621,817. The 24-hour trading volume of this coin is about $309,629,963. The circulating supply of this coin is about 286,370,297 ATOM.
Final Thoughts
The global crypto market has seen a slight change in value. The recent data shows that it has added a small amount. The value of Bitcoin still shows bearishness while others have added a little. The positive change might bring the investors gains anytime soon. The global market cap value is also making attempts for recovery. The latest data shows that it is currently estimated to be $1.02 trillion.
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