The global crypto market has seen an enhancement in value over the last day. The value of Bitcoin, Binance Coin, and others has continued to rise. The recent changes in the market are suggestive of improvement as it had faced a sharp decline. The collapse of major names and the instability of the global economic scenario didn’t prove good for crypto. Though the market hasn’t seen a major change yet, there is a chance of considerable improvement in the coming months.
Renowned billionaire Mark Cuban has remained bullish on crypto despite the collapse of FTX. He stated that investors shouldn’t give up on the market due to the collapse of a single exchange. He is of the view that former FTX CEO Sam Bankman-Fried may go to jail but crypto has a lot of underlying value. Mark Cuban has unfollowed many crypto accounts which have led to rumors that he is distancing himself from crypto.
Mark Cuban has refuted such stuff and has said that he still believes in crypto. Cuban has said that investors should separate the signal from the noise. He further added that people have been making a lot of mistakes, but it doesn’t change the underlying value. Cuban said that there are a lot of opportunities in the market despite the current difficulties.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin, and others.
BTC continues to grow
Genesis fud has subdued as Greyscale Bitcoin Trust has made a significant recovery. The trust premium recovered from -46% to -40% as Ark Investments bought GBTC shares rebuilding the confidence in the crypto company. The recovery signal will significantly help the company.
Source: TradingView
The recent changes for Bitcoin show that it has shown considerable growth. The latest data shows that it has added 0.59% over the last 24 hours. The weekly performance of Bitcoin shows that it has shed 0.29%.
The price value of BTC is currently in the $16,598.19 range. The market cap value of Bitcoin is estimated to be $318,972,413,009. The 24-hour trading volume of Bitcoin is about $17,854,473,641.
BNB stays bullish
Binance CEO CZ has revealed wallet transparency to answer proof of reserves jab. CZ took this step as some crypto leaders claimed that Binance’s this decision is pointless. Kraken CEO had said that their new system is pointless without liabilities.
Source: TradingView
The performance of Binance Coin has also improved as the bullish trend continues. The latest data shows that it has added 4.86% over the last 24 hours. The weekly data for this coin shows that it has added 16.18%.
The price value of BNB is currently in the $314.60 range. The market cap value of this coin is estimated to be $50,327,388,117. The 24-hour trading volume of the same coin is about $1,109,133,121.
LINK retains gains
The performance of Chainlink has also shown a positive trend. The latest data shows that it has added 1.40% over the last 24 hours. The weekly data shows that it has added 13.79%. The price value of LINK is currently in the $6.94 range and is likely to improve further.
Source: TradingView
The market cap value of LINK is estimated to be $3,523,444,157. The 24-hour trading volume of this coin is about $202,383,575. The same amount in its native currency is about 29,184,615 LINK.
XMR regaining strength
Monero has been second to none in addition of further value. The latest data shows that it has added 2.21% over the last 24 hours. The weekly performance of this coin shows that it has added 3.56%. The price value of XMR is currently in the $138.28 range.
Source: TradingView
The market cap value of Monero is estimated to be $2,517,431,460. The 24-hour trading volume of this coin is about $78,831,449. The circulating supply of the same coin is about 18,205,722 XMR.
Final Thoughts
The global crypto market has seen a positive change in performance as it continued to attract gains. The recent data for Bitcoin, Binance Coin, and others show continued gains. As the influx of capital has continued, there has been a growth in the market value. The global market cap value is estimated to be $842.57 billion.
