The global crypto market has seen a positive trend as it added new gains. The recent data for Bitcoin, Binance Coin, and others shows that the market is attempting to regain its previous pace. The market attempted to regain value but couldn’t due to dominant bearishness. The increased sell-offs and political problems led to further deterioration. The market has yet to see if the ongoing bullish wave will bring any lasting change.
5G wireless network Helium has proposed to migrate to the Solana blockchain. Helium is a P2P wireless network and is officially known as HIP 70. Migration to Solana aims to improve its operations. Helium was founded in 2013 and is the first LoRaWan wireless Internet of Things. The said network has changed the ways to connect, and anyone can own or operate a wireless network through IoT devices.
As Helium transfers to Solana Network, it will achieve faster transaction speeds, longer uptime, and more interoperability with other networks. The community voting for this proposal has to begin on 12 September and close on 18 September. There are more than 1 million ‘hotspots’ on the Helium network.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and others.
BTC turns bullish
Ethereum’s Vitalik Buterin has expressed concerns for Bitcoin because of the changing scenario. As Ethereum is changing from Proof of Work to Proof of Stake, Bitcoin might face similar pressure. The Carbon footprint of Bitcoin is too high, which might create problems for it in the long run.
The recent changes for Bitcoin show a slight improvement in value. The latest data shows that Bitcoin has added 1.61% over the last 24 hours. In comparison, the weekly data shows that it has shed 5.83%.
The price value for Bitcoin has also made a little improvement, as it is currently about the $20,265.26 range. The market cap value for Bitcoin is estimated to be $386,061,825,292. The 24-hour trading volume of this coin is about $27,629,991,711.
BNB resumes gains
Binance’s CEO has refuted claims that Binance is a Chinese company. There was a propaganda campaign against Binance as it has continued to grow despite challenges. Changpeng Zhao also detailed how he overcame business-related challenges from the Chinese government.
The value of the Binance Coin has also shown growth over the recent few hours. The latest data shows that it has added 1.91% over the last 24 hours. In comparison, the data for last week shows a loss of 5.46%.
The price value for BNB is currently in the $281.36 range. The market cap value for this coin is estimated to be $45,082,374,837. The 24-hour trading volume of this coin is about $864,962,057.
VET adds further
VeChain has also been in a gaining mood. The latest data shows that it has added 1.23% over the last day. The weekly data shows a loss of 6.86%. The price value for VET is currently in the $0.02434 range.
The market cap value for VeChain is estimated to be $1,764,681,945. The 24-hour trading volume of this coin is about $60,103,785. The same amount in its native currency is about 2,469,878,977 VET.
FIL trying to regain momentum
The value of Filecoin has also been attempting to regain momentum. The latest data shows that it has added 2.21% over the last 24 hours. The seven-day data shows that it has receded by 5.99%. The price value for FIL is currently about $5.85.
The market cap value for Filecoin is estimated to be $1,579,246,677. The 24-hour trading volume of this coin is about $152,171,044. The circulating supply of the same coin is about 273,125,450 FIL.
Final Thoughts
The global crypto market has shown a significant change after a long while. The market has turned bullish, bringing gains to various coins. The latest data shows that Bitcoin, Binance Coin, and others have added a considerable amount. The global market cap value has also improved. The latest data shows that it is estimated to be $985.82 billion.
