The global crypto market has witnessed a turn of events as the majority of the coins in the market turned bullish. The recent changes show the bullish trend for Bitcoin, Binance Coin, and others. As the market has attracted new investments, it is likely to help the various coins which suffered recently. The strengthened influx of capital has come after the bearish trend, which lasted for many days. The market has yet to see how long the current bullish trend will continue.
Pro-Russian groups have continued to evade US sanctions as they raised $400,000 in cryptocurrency to fund the Russian military. Blockchain intelligence company TRM Labs disclosed the news of pro-Russian groups using crypto to support the Russian military campaign. One of the costliest ills of war is the funding to acquire weapons and train military personnel.
Ukraine announced the acceptance of donations in crypto, and Russia has followed suit. According to a report by Chris Janczewski, pro-Russian groups have raised more than $400,000 since the invasion of Ukraine on 24 February 2022. According to the research, these groups have used the Telegram app to attract donors, and the funds were channeled to the Russian military.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and others.
BTC resumes gains
Bitcoin mining power has reached its all-time high despite the macroeconomic issues that it has faced. The cryptocurrency market capitalization remained low as it couldn’t cross $1 trillion; a positive trend has been seen for Bitcoin. On the other hand, renowned author Robert Kiyosaki has seen the current situation as a buying opportunity for Bitcoin.
The recent changes show that Bitcoin has attempted to come back. The latest data shows an addition of 0.83% over the last 24 hours. The seven-day data for Bitcoin shows an addition of 1.21%.
The price value for Bitcoin has enhanced to the $19,305.49 range. The market cap value for BTC is estimated to be $369,539,098,230. The 24-hour trading volume of this coin is about $24,880,557,221.
BNB trying to revive
Binance announced the development virtual assets market in Kazakhstan amid the president’s support. The leading crypto company signed a memorandum of understanding with the Financial Monitoring Agency of Kazakhstan. The two will use this relationship to develop and regulate Kazakhstan’s national crypto assets market.
The performance of Binance Coin has also shown a positive trend. The latest data shows an addition of 1.64% over the last 24 hours. The weekly data shows an addition of 4.73%.
The price value for BNB is currently in the $286.81 range. The market cap value for this coin is estimated to be $46,271,404,643. The 24-hour trading volume of the same coin is about $630,921,296.
XMR gains momentum
The performance of Monero has also shown an enhancement in momentum. The latest data shows an addition of 0.30% over the last day. The weekly data shows a loss of 2.69% for this coin. The price value for XMR is currently in the $140.03 range.
The market cap value for Monero is estimated to be $2,543,858,427. The 24-hour trading volume of this coin is about $69,075,982. The same amount in its native currency is about 493,726 XMR.
FLOW turns green
The value of Flow has also enhanced due to the bullish market. The latest data shows an addition of 0.60% over the last 24 hours. The seven-day data shows a gain of 2.17%. The bullish change has enhanced the price value for FLOW to the $1.65 range.
The market cap value for Flow is estimated to be $1,712,602,517. The 24-hour trading volume of this coin is about $27,070,177. The circulating supply of this coin is about 1,036,200,000 FLOW. If the current trend continues, the value of FLOW will enhance further.
Final Thoughts
The global crypto market has seen a positive trend due to the influx of capital. The recent changes for Bitcoin, Binance Coin, and others show an enhancement in value. The increase in the influx of capital has brought hope to investors. The global market cap value has also increased, resulting from stability. The latest data shows that it is estimated to be $932.10 billion.
