TL;DR Breakdown
The global crypto market continues to be bullish as the gains for the last 24 hours amount to 1.77%.Bitcoin is in a bullish mood as it has gained 1.64% over the last 24 hours.Ethereum has also continued bullish as its gains are about 1.64%.Theta Fuel has been following the dominant market trend, adding 1.48%, while IoTeX shed 2.83%.
The global crypto market has performed well following the predictions made at the start of the week. The bullishness has lasted as expected with minor fluctuations as there was a short-lasting bearishness which affected the market performance. The change in the trend has resulted in further value to the market. The US regulators have also warned the users about the abuse of crypto as there are reports of it being used to scam people. The warning came after regulators issued an advisory in the UK in this regard.
Bank of England is also working on the regulation of crypto. The change has come because of the need felt for the legislation that could mainstream crypto. Especially the use of Bitcoin and Ethereum in different businesses has made it necessary for the regulators to recognize it. If the Bank of England begins to regulate crypto, it will be an initiative for other central banks. The decisions regarding crypto regulation are showing adverse effects in some countries. One of these is India, where the new tax policies have begun to affect the market. Experts believe that these policies will lower the value of crypto investments in India.
Here is a brief overview of the current market situation using the performance of Bitcoin, Ethereum, and some others.
BTC might crack $43K
Bitcoin has remained bullish for the past two weeks. It has utilized the favorable situation to bring itself to a strong point. As a result of the new gains, its resistance levels have taken high. If the gains continue, the resistance level might increase up to $45K.
Source: TradingView
The data for the last 24 hours shows that Bitcoin has added 1.64% over the last 24 hours. If we compare its weekly performance, it has been able to clinch gains of 4.70%. There are chances that the progress will continue without any significant losses. The current price for Bitcoin is in the $42,950.44 range.
The current market cap for Bitcoin is estimated to be $816,498,731,410. In comparison, the 24-hour trading volume is about $29,700,145,455. The same amount in the native currency of Bitcoin is about 690,854 BTC.
ETH adds significant gains
Ethereum is enjoying the perks of new updates as these have attracted a wider fanbase. The results have been new investments from the investors and use for transactions of the eponymous blockchain.
Source: TradingView
The data for the last 24 hours shows that Ethereum has been able to gain 1.64%. The percentage of these gains is the same for Bitcoin though the value differs. Its weekly performance has been much better than Bitcoin as its gains are about 7.42%.
The price for Ethereum has also enhanced as it is currently in the $3,026.27 range. If we take a peek at the market cap value for this coin, it is estimated to be $363,480,355,186. In comparison, the 24-hour trading volume of this coin remained 18,277,238,784.
TFUEL lowers its gains
Theta Fuel has remained in a bullish mood adding new gains. But what makes it different from the coins, as mentioned earlier, is the lowered gains. In contrast to the other coins, it hasn’t been able to maintain the momentum of gains. The result has been an addition of 1.48%, which is lower than the other days.
Source: TradingView
The weekly performance of Theta Fuel shows that it has gained 5.22%. The price value has also been affected as it is currently in the $0.1732 range. This coin’s current market cap value is estimated to be $918,188,856 as per the latest updates.
The 24-hour trading volume for TFEUL is $45,377,682. The circulating supply remained 5,301,214,400 TFUEL.
IOTX turns bearish
IoTeX has been totally in contrast with other coins in the market. It has shed 2.83% over the last 24 hours. It has performed much better as it gained 20.03% over the last seven days. The weekly graph for it shows a rise steeply. It smoothly continued gains, but the last twenty-four hours brought it a bit low.
Source: TradingView
The market cap value for IoTeX is estimated to be $877,650,925. In comparison, the 24-hour trading volume remained at $80,063,885. The same amount in its native currency is about 870,359,541 IOTX. The circulating supply of this coin remained at 9,540,779,324.
Final Thoughts
The global crypto market saw an encouraging situation as the flow of gains continued without any major change. Though some coins turned bearish or lowered their gains, there has been a continuous growth in their value. The result of these gains is an increased global market cap, which is currently about $1.94T. There are chances that the value of the global market cap will increase further as the gains remain exceptional compared to the other months. The market is going in the right direction, and experts predict it to continue bullish.
