The global crypto market has utilized the opportunity to regain value amid the bullish situation. The market had lingered in losses previously, but the current bullish wave has helped it revitalize Bitcoin and the following altcoins. The market seems to be continuing in the current bullish manner, but there is a possibility of the impending bearishness. Many analysts predict that Bitcoin will be able to move ahead; if the situation of bullishness persists, the market will see a track to recovery.
More online payment solutions are working on trying decentralized blockchain solutions. The latest on the list is Swift, which has expressed its intentions to experiment with decentralized tech. It would be working on the project of allowing the interconnection of CBDCs. The success of this project would be dependent on various factors, including cooperation from state-level organizations.
On the other hand, Sony has also taken a step forward to work on the metaverse push. It has made this announcement in the latest annual corporate strategy meeting. The Japanese corporation is one of the few that have worked on keeping itself abreast of the latest technologies.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and some other altcoins.
BTC above $30K
Bitcoin has marked its eighth consecutive week with a red candle in a dominant mood. The change in the mood of Bitcoin has affected its price value and the whole market as well. The change in the eight weeks has lowered its price value significantly, leaving little chance for speedy improvement.
The latest data for Bitcoin shows that it has added 2.79% over the last 24 hours. In comparison, the weekly losses have reached 0.78%. The weekly losses have continued to lower amid the strengthening market.
The price value for Bitcoin shows that it has consolidated to $30,075.53. If we compare the market cap value for Bitcoin, it is estimated to be $573,608,392,215. The 24-hour trading volume of Bitcoin is about $20,302,737,056.
BNB gains considerably
Binance has launched its first NFT collection while unveiling Venus updates. They have collaborated on it with the newly opened museum in Dubai. It has been named Museum of Future, which will be used to deliver unique digital assets. The growing crypto market in UAE will help it promote further.
The latest data for Binance Coin shows that it has added 3.19% over the last 24 hours. If we compare the weekly performance, the gains for Binance Coin remained at 5.70%. The rise in the value of weekly and daily gains suggests changing patterns in the market.
The price value for Binance Coin has also improved as it has reached $319.25. If we compare its 24-hour trading volume, it is about $52,196,111,780. The market cap value for it is about $1,685,668,844.
SHIB is trying to revive
Shiba Inu has also been attempting to revive its value as it has stayed bullish over the recent hours. The data for the last day shows that it has gained 3.95%. In comparison, the last seven days show a loss of 3.94%. The price value for SHIB lowered significantly as the losses soared.
The price value for SHIB is in the $0.00001199 range. If we compare the market cap value for SHIB, it is estimated to be $6,594,451,967. Its 24-hour trading volume of it is about $318,127,997. The same amount in its native currency is about 26,487,781,255,597 SHIB.
NEAR consolidating value
Near Protocol is also moving at a faster pace compared to other coins. The data for the last 24 hours shows that it has gained 7.35%. The weekly performance shows bearishness on the dominant side as it has shed 8.07%. The price value has tried to revive utilizing the current gains.
The price value for NEAR is in the $6.26 range as it moves towards enhancements. The latest data for its market cap value shows that it is about $4,368,539,663. The 24-hour trading volume for this coin is about $371,257,858. The circulating supply for this coin is about 695,765,952 NEAR.
The global crypto market has continued bullishly as the value of gains for it has enhanced. The data for the last 24 hours shows that it increased in value. While if we look at the global market cap value for it, it is about $1.29T. The change for Bitcoin and other currencies might lead to further enhancement though the market cap range hasn’t changed much. If the predictions for the market prove true, there will be a rise seen in its value.