TL;DR Breakdown The global crypto market continues in a bullish mood as it has gained 2.90% in the last 24 hours. The gains for bitcoin continue, as it adds 2.43% in the last 24 hours. Ethereum, following the footsteps of bitcoin, has added 3.38% in the last 24 hours. Cardano and Polygon MATIC have also … Read more
- The global crypto market continues in a bullish mood as it has gained 2.90% in the last 24 hours.
- The gains for bitcoin continue, as it adds 2.43% in the last 24 hours.
- Ethereum, following the footsteps of bitcoin, has added 3.38% in the last 24 hours.
- Cardano and Polygon MATIC have also gained during the last 24 hours, adding 2.56% and 6.82% in the last 24 hours.
The start of January 2022 was turbulent for cryptocurrencies as the legacy of negative changes in the market continued. In contrast, the situation for NFTs was much better as their market grew over time. Bitcoin, which is worth calling the backbone of blockchain technology, underwent apocalyptic changes. The results were evident in the situation when it even reached a crashing situation.
The cryptocurrency market changes have come on par with NFTs, and there are chances that the market will regain its value. The new rise in the market has provided investors an incentive to join it through investments. An example is Rio de Janeiro, where the city administration has decided to invest 1% of the revenue in bitcoin. Those citizens who will invest in bitcoin will also receive benefits in tax cuts and other reliefs.
Here is a brief overview of the leading coins and the market performance.
BTC continues smoothly to add gains
Bitcoin might have entered a difficult phase if the recent price changes had been prolonged. But fortunately, the recessive mood lasted for a day, and then it improved. The current status of bitcoin is stable, and it is showing steady growth.
The current bitcoin price is in the $43,045 range, while it has gained 2.43% in the last 24 hours. Bitcoin data for the last seven days shows a growth of 2.88%, which means that its performance is satisfactory.
The current market cap for bitcoin is estimated to be $814,852,433,9983. While if we take a peek at the trading volume for the last 24 hours, it is about $21,145,443,512. The trading volume for bitcoin in the native currency is about 491,232 BTC.
ETH pulling forward the bulk for an increase in value
Ethereum is speedy in regaining its worth if we compare it to bitcoin. The data for the last 24 hours shows that Ethereum has gained 3.38% in the last 24 hours. The price for Ethereum is $3,321.13, while the improvement for the last seven days is estimated to be 3.25%.
As this coin progresses, the value and circulating supply have also improved. The current market cap for Ethereum is estimated to be $395,772,773,361. The competition against Ethereum has been tough, but it has maintained its position and worth.
The trading volume for Ethereum during the last 24 hours is about $11,547,998,292. The same trading volume can be converted to the native token of the mentioned blockchain and is about 3,477,134 ETH.
Cardano is trying to stabilize itself through gains
Cardano has performed well even during the recessive period. The number of losses for this coin during the previous recession was less than other coins, and now it is excelling in gains.
The data for the last 24 hours shows that it has gained 2.56%. The performance during the past seven days has also been good, and it has gained 2.56%, the same as the daily performance. The current market cap for this coin is estimated to be $42,561,120,831.
The trading volume for the said coin during the last 24 hours is about $1,219,701,973.
MATIC skyrocketing in a fantabulous move
Polygon MATIC is currently ranking 13th in the list, but its performance compared to top-10 coins is much better. The data for the last 24 hours shows that it gained 6.82%. If we compare the gains for the past seven days, they are about 11.14%. The mentioned change means a considerable change on the side of Polygon.
The current market cap for Polygon is estimated to be $17,163,579,723. In comparison, the trading volume for the last 24 hours is estimated to be $1,116,224,663. The mentioned amount of the trading volume in the native currency is about 475,590,238 MATIC.
The global market cap has improved over the past few days and has reached $2.06T as per the latest updates. If the growth continues unchecked, there are chances that it will grow further high. Though the first two quarters of 2021 were good for the growth of the crypto market, the closing two months proved turbulent. The market might not follow the same pattern in the coming days and months, but the start of 2022 was no different from 2021.
Investors are looking forward to the increase in growth of the market, and if it continues unchanged, there will be further investments.