The global crypto market has continued to remain bullish as the investors keep pushing it. The continued influx of capital has resulted in the increase of the market bulk. The value of Bitcoin and others has slight increase, and the further influx might take them even higher. As the influx continues, the market will enhance its value further. The only impediment is the possible bearishness that might affect the ongoing relief rally.
A Tornado Cash contributor has revealed that they have shut down DAO to keep its contributors safe. The contributors who insisted on keeping their identity secret while talking to a media outlet said they couldn’t fight the US government and took all these steps to keep their investors secure from possible repercussions. They have deleted the multi-sig wallet and might take further action.
The contributors criticized governments’ policies regarding decentralized platforms. While their response to sanctioned addresses from Aave, Uniswap, etc., was also the same. The DAO funds have been returned to governance contracts so they are not affected by ongoing sanctions. As the wallet sigs have been deleted, it can be considered the end of Tornado Cash.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and some others.
BTC sees uptick
The economic indicators for Bitcoin and others show consistent improvement for the third week. Bitcoin has come closer to $25K but hasn’t crossed this level yet. The reason is the bearishness following bullish rallies. So, Bitcoin might have to wait for a strong current to push it past this resistance level.
The latest data for Bitcoin shows that it has added 0.37% over the last 24 hours. The weekly data shows that it has added 7.11%. The consistent pace of gains might push Bitcoin price further.
The price value for BTC is in the $24,558.51 range. If we compare the market cap value for Bitcoin, it is estimated to be $468,206,934,414. The 24-hour trading volume of this coin is about $22,871,203,537.
ETH closer to $2K
Coinbase, in research, has studied in detail the threats that Polygon (MATIC) and other scaling solutions pose to Ethereum price. Ethereum has faced strong competition in the form of scaling solutions that have attracted a considerable number of its users.
Ethereum has also improved considerably as the relief rally continues. The latest data shows an addition of 1.32% over the last 24 hours. In comparison, the weekly data shows an addition of 18.84%.
The price value for Ethereum is in the $1,990.64 range. If we compare the market cap value for this coin, it is estimated to be $242,287,398,379. The 24-hour trading volume of this coin is about $15,716,753,558.
MATIC scaling new heights
The value of Polygon has also seen a considerable increase due to bullishness. The latest data shows an increase of 10.05% over the last 24 hours. The weekly data shows that it has added 14.37%. The increase in value has enhanced its price value to the $1.03 range.
The market cap value for MATIC is estimated to be $8,208,254,415. The 24-hour trading volume of this coin is about $927,109,627. The same amount in its native currency is about 907,575,138 MATIC.
SHIB fluctuates
Shiba Inu’s value has fluctuated due to changes in influx of capital. The latest data for this coin shows that it has added 0.02% over the last 24 hours. The weekly data shows an addition of 6.98%. The fluctuations in the market have brought Shib’s price value to the $0.00001272 range.
If we compare the market cap value for SHIB, it is estimated to be $6,726,937,524. The 24-hour trading volume for this coin is about $341,324,759. The circulating supply of the same coin is about 549,063,278,876,302 SHIB.
Final Thoughts
The global crypto market has continued to grow as the investors remain bullish on it. The increase has helped it add further to its value. As the gains continue, Bitcoin and other coins have seen a small increase in value. The global market cap value has also seen a slight increase. The mentioned amount is estimated to be $1.18 trillion.
