Finally, after the downtrend in early 2022, the market started to improve. The changes came in the form of changes in the prices of major coins like Bitcoin, Ethereum, etc., and as a result, the whole market started to improve. Although the increase in global market cap is slow to kick in, the market will gain a significant amount if it continues.
Estonia has delivered positive news to crypto investors and the news website said the country would not block anonymous crypto holdings. When this happens, it will become the cornerstone of the freedom of the crypto market as it is not regulated in any way. So the freedom granted by the state will help develop the market by attracting more investment.
The ren is on the rise, but progress has been reversed. Experts now assume that it will most likely drop below 50%. Wren was able to deal with this situation due to the continued downtrend resulting in losses. Cardano has also expanded the blockchain system significantly and now wants to be a middle ground between Bitcoin and Ethereum. According to the latest update, their UTXO model is essential for smart contracts between Bitcoin and Ethereum.
BTC is back, the journey starts all over again
At the age of 13, Bitcoin has seen many changes in the market. As a market leader, he brought revolutionary changes to the market. However, experts say 2022 may not be the year of an uptrend. You justify it with current market changes and previous losses. As the market situation seems dominant, it probably won’t add up as much in 2021.
The current market situation is improving and Bitcoin is up 0.53% in 24 hours, compared to a loss of 3.65% in seven days. The Bitcoin price is currently hovering around $46,336.55 while the market cap is estimated at $876,695,857,956.
As Bitcoin improves, the circulating supply will also show signs of growth. The 24-hour reverse bid was around $44,298,824,351.
ETH is flying high
Ethereum was the leading coin during the previous market downturn. His loss was obviously due to the lead role, but now he was starting to recover. While it’s not certain that the uptrend will last much longer, Ethereum has made significant strides.
Current data shows that Ethereum has grown 2.21% in the last 24 hours. This is also considered a good starting point for a recovery from the 0.46% weekly loss. Ethereum price is currently around $3,807.71.
The market cap of the mentioned coin has increased after the spin and is estimated to reach USD 453,225,982,504. At the same time, the trading volume for 24 hours is around $13,936,356,991.
ADA got off to a great start in the new year
Cardano is a revolutionary blockchain system and its benefits come in the form of its coin, which is currently number 6 on the list. While holding up well in the market, it robbed of constant recession compared to the rising days.
Now, with the market improving, Cardano is up 1.62% in 24 hours compared to a 6.86% loss in the last seven days. The market is expected to grow, and Cardano is likely to grow. Cardano’s market cap is currently estimated at $44,450,043,183. At the same time, the trading volume for the mentioned coin in the last 24 hours was $964,990,388.
DOT is still red, probably will improve
The polka dots have not turned bullish even after the market trend has started to change. Polkadot has performed relatively well during the recession, increasing 1.83% over the past seven days. If you compare the 24-hour performance, it’s not relatively good as it’s down 1.16%. Polka dots seem to be bucking the market trend.
The current market cap of the coin is around $28,951,829,346 while the current price is around $29.34. Compared to the two, the current trading volume for the same coin is around $1,397,570,623.
Last thought
The market needs to raise fresh capital to breathe fresh air. Although the current situation appears to be improving, continuity is needed. If positive change continues on the short list, it won’t help. With steady growth at the start of the year and without significant losses, it is likely that growth will be the same as in Q1 and Q2 2021.
Investor confidence needs to be improved and this can happen when the market is making good returns. Although the task is difficult, but not impossible, experts hope it will be realized soon.