The global crypto market has regained its value as most of the coins on the market have appreciated in value. The latest addition to the list is Bitcoin, which is facing tough times because its losses are too big. Ethereum and Binance Coin have turned into bulls, which has hurt the growth of the market. The recent addition of bullish signals has increased market strength.
Although the appreciation of the crypto market is seen as a result of rising inflation, the depreciation of the euro is also seen as an attribute. Both have led investors to seek productive investments to protect their capital from rapid depreciation. The main reason for the weakening of the euro was the diminishing hope for peace in Ukraine, as Russia did not give in to Western demands.
As the situation remains unchanged, there have been numerous reports of genocide. The result hurt market confidence, which lowered the value of the euro. The increase in new Covid cases continues to have an impact on Chinese stock prices, but fortunately, Bitcoin and other currencies are starting to rise.
Here is a quick overview of the current market situation, based on the performance of Bitcoin, Binance Coin, Litecoin and to name a few.
BTC turns green
Bitcoin has been one of the most damaged coins, losing more than 5% in one day. Adding to Bitcoin’s woes is the liquidation of its value which has reached an alarming level. Some market pundits predicted an imminent Bitcoin market crash, but persisted. Now that the situation is normal, Bitcoin is also regaining its value and turning bullish.
Data over the last 24 hours shows Bitcoin up 0.08%. If we compare Bitcoin’s performance over the past seven days, this is clear evidence of the damage caused by the recent recession. It’s down 11.60% over the past seven days. The Bitcoin price is currently on the threshold of $40,112.79. Recovery may take some time as the impact of the recession may be delayed.
The market cap value for Bitcoin is estimated at $763,045,583,476. In comparison, 24-hour Bitcoin trading volume remains at $29,920,310,503.
BNB continues to add value
Binance Coin is lucky to be a bull at the start of an up-and-coming market. This allowed him to recoup his losses on the Bitcoin front. He stayed up then and is now working to increase the bear-influenced value.
The latest data shows Binance Coin is up 3.45% in the last 24 hours. If we compare the weekly data, this has reduced the weekly loss to 5.71%. A persistent increase in value means an increase in the price, which is currently hovering in the $418.35 area.
If we look at the market cap value of Binance Coin, it is around $69,076,385,371 while the 24-hour trading volume for this coin is estimated at $2,133,768,735. The same amount in local currency Binance Coin is 5,100,455 BNB.
Quant continues to create value, but losses will take time to recover. The last 24 hours have not helped him reach the bulls state of bitcoin and other coins. Its performance over the last 24 hours showed a decline of 2.01%. If we compare the weekly losses, they are in a very high range at 17.05%.
The last value seems to significantly affect Quant’s performance.
Quant’s price is currently around $115.51. If we compare the market cap values, it is estimated at $1,394,542,520. While the trading volume of this token for 24 hours is around $31,782,998.
ENJ tends to value value
The engine is no different from the Quant in terms of losses because it still reduces the loss margin. The engine is down 1.35% in the last 24 hours. If the situation remains favorable, it is likely to increase over the next 24 hours. The weekly loss for this coin remains at 6.63%.
If we compare the price of the Engine, it’s around $1.56. The market cap indicates that its value has been heavily influenced by the recent swings – currently worth $1,362,434,530. In comparison, the 24-hour trading volume of this coin is around $165,217,184.
The global crypto market is finally recovering as the uptrend heals the losses. The increase in the value of global market capitalization indicates the profit it has made over the past day. The current global market value is around $1.87 and is moving towards further improvement. When the market appreciates, it will strengthen individual currencies. Although the volatility and bullish cycle continues, there is a possibility that the ongoing bullish wave will take the market to new highs.