The global crypto market continues to grow, adding 13.50% in the last 24 hours.
Bitcoin has also changed the pace of gains, adding 17.01% in the last 24 hours.
Ethereum follows Bitcoin closely, adding 14.06% in 24 hours.
Also benefiting from the bullish market, Avalanche and Near Protocol add 20.74% and 24.95% in the last 24 hours.
Even though the political situation hasn’t normalized in Eastern Europe, there has been a continuous increase in the value of the global crypto market. It has continued to thrive for more than 24 hours and might continue so. The data for the last 24 hours shows that the market is regaining momentum as it has added 13.50%. The mentioned amount is a significant value that the market could add in these turbulent times. If it continues to retain the momentum, it might set new gains records.
Kraken’s CEO has warned of the possible ban of US traders if there is a similar move about Russian accounts. The crypto war has also been on the rise since tensions between Russia and Ukraine have escalated. As the tensions turned to invasion, there were calls from Europe and US to ban the Russian accounts and crypto-wallets. Though there are few chances of this happening, it will affect the market itself if it happens. An evident reason is the Russian investments in Bitcoin, which amounts to millions of dollars.
Ukraine is asking for Polkadot donations to support its war efforts. These donations will also increase the market cap for Polkadot while the trading volume will also improve. On the other hand, Russia is trying to circumvent sanctions that have affected it badly. It is trying to ensure that the sanctions’ impact is lowered using investments in Bitcoin, which will have repercussions for the market.
Here is a brief overview of the market using leading currencies like Bitcoin, Ethereum, and some other significant names.
BTC continues to soar
Bitcoin had suffered harsh times as it continued to stay bearish. The recent gains have brought it to the limelight again. The data for the last 24 hours shows that it has gained 17.01%. The recent upsurge has taken its price to the $44,520.63 range. There are chances that the Bitcoin price might go further high if the market remains bullish.
If we compare the weekly performance of Bitcoin, it shows a gain of about 18.45%. Bitcoin has changed the trend fast as the market changes direction. The market cap of Bitcoin has also improved with the new gains and is estimated to be $844,624,542,605.
The 24-hour trading volume of Bitcoin is estimated to be $44,140,754,880. The weekly graph shows that the gains for Bitcoin have taken a steep high course.
ETH touching new highs
Ethereum is closely following bitcoin in gains. Over the last 24 hours, its performance shows that it has gained 14.06%. In comparison, the weekly gains are about 15.25%. The recession seems to be over for Ethereum if we compare the current data to a couple of weeks back. It continued to bearish as the market didn’t show prospects of gains.
The price for Ethereum is $2,988.60, and it might soon cross $3K because it is just $12, far from this value. The current market cap for Ethereum is estimated to be $367,974,627,606. The 24-hour trading volume for this currency is about $22,144,100,199. Ethereum has shown fluctuations in value in the recent hours, as its gains lowered in value.
AVAX is not behind in gains
Avalanche continues to rank 10th in the global crypto list. It has gained 20.74% in the last 24 hours. The gains for the previous seven days are about 24.00%. Comparing the weekly and daily performance shows that the daily gains have exceeded the former. The price for Avalanche has also increased after new gains and is in the $89.70 range.
The market cap of Avalanche is estimated to be $21,817,087,888. In comparison, the trading volume for the last 24 hours shows an estimated value of $2,661,933,850. The circulating supply of this currency is estimated to be 246,202,677 AVAX.
NEAR surpasses the weekly gains’ value
Near Protocol has also continued bullish after witnessing hard times. The data for the last 24 hours shows a gain of 24.50%, which exceeds Avalanche in value. The weekly performance of this currency indicates that it has gained 21.61%, which is far better than the previous performance.
The ranking of this currency is 24th on the list, while its price is estimated to be $10.59. The market cap for Near Protocol is about $8,814,157,190. In comparison, the 24-hour trading volume is estimated to be $1,002,904,035.
The graph for its performance shows that the previous 24 hours took it to new heights.
The global crypto market is improving despite the huge odd in the global political situation. The new gains have taken the market cap value to $1.95T, nearing $2.00T. If there are no significant impediments in the nearby period, there are chances that it will regain its past value. The current bullishness has been a great hope for investors. The new gains have attracted a flow of further capital to the market. If the ongoing problem of the Russia-Ukraine conflict is resolved with talks, the market might improve further.