The global crypto market is seeing a positive turn after a prolonged bearish decline. Changes result from increased capital flows into the market. Bitcoin’s value shows improvement while Ethereum’s performance continues to lag behind.
As the mixed situation continues for some coins, it may take a while before the market is dominantly bullish. The market value will increase if it can maintain a continuous uptrend.
The University of Sharjah has partnered with BSV Blockchain to create a blockchain-based metauniverse. An agreement has been reached between Sharjah University and the BSV Blockchain Association to preserve the culture and heritage of the UAE. Storage takes place in the form of NFT.
The two organizations started a joint research and development program to transfer the cultural identity of the UAE to the Metaverse.
Collaboration between blockchain companies based in Switzerland and the Gulf States will also open up opportunities for other countries. The University of Sharjah will claim ownership of digital assets and offer them in the market.
Connections will also provide use cases for digital assets such as NFT and Metaverse. A university official said it would be monumental to the history of Arab and Islamic heritage in the Middle East. Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum and others.
BTC turned bullish
Bitcoin’s open interest rates and funding rates have given investors hope. The upbeat mood brings improvement after a prolonged period of volatility. Investors have had a rough time due to the many downsides and rallies, but there are hopes for gains in the coming days.
Recent developments for Bitcoin show encouraging statistics. The latest data shows it’s up 1.27% in the last 24 hours. In comparison, weekly data shows Bitcoin is down 5.98%.
The price value for bitcoin is currently in the range of $ 20.008.55. The market cap value of Bitcoin is estimated at $383,466,967,036. The 24-hour BTC trading volume is around $30,535,451,225.
ETH is still bearish
Ethereum’s big merger event didn’t lessen its woes. Ethereum price continues to decline despite user expectations. Analysts suggest Ethereum could risk a 55% drop against Bitcoin. If this happens, the Ethereum market will suffer significantly.
Ethereum performance continues to show a bearish trend. Recent changes for this coin show a loss of 2.04% in the last 24 hours. This compares with about 16.22% over the past seven days.
The price value for ETH is currently around $1443.67. The market cap value for this coin is estimated at $44,764,834,349. The 24-hour trading volume of this coin is around $786,050,406.
NEO is still in recession
Neo’s performance is also showing a downward trend, similar to Ethereum. Recent changes show it is down 1.03% in the last 24 hours. In comparison, weekly data showed a loss of 12.13%. The price value for NEO is currently around $9.08.
The market cap value for Neo is estimated at $640,513,674. The 24-hour trading volume of this coin is around $48,151,244. The same amount in local currency is approximately 5,302,826 NEO.
FTM in results
Fantom’s performance shows a positive trend as it adds significant profits. The latest data shows it’s up 2.17% in the last 24 hours. The weekly data shows that there has been a 12.13% loss for this coin. The price value for FTM is currently around $0.2481.
The market cap value for Fantom is estimated at $631,411,487. The 24-hour trading volume of this coin is around $96,385,240. The circulating supply of this coin is approximately 2,545,006,273 FTM.
The global crypto market has witnessed a positive change in value over the past 24 hours. Bitcoin’s performance has improved significantly while Ethereum is still teetering on the lows.
The ongoing changes show that the market can overcome the barriers. The value of global market capitalization also shows improvement. The latest figures show that it is worth $968.04 billion.