The global crypto market has continued to grow due to the positive trend. The recent changes suggested that the market would soon turn bullish, which has changed direction. The result of these changes is an enhancement in the value of Bitcoin, Ethereum, and others over recent hours. As positive changes ensue, market analysts and investors have hopes for new gains. The continuing uncertainty has been the reason the market has been deprived of the growth it has continued in recent years.
GPU prices may lower as a result of the happening of the Ethereum merge due to lowered demand. The long-awaited transition of Ethereum to Proof of Stake consensus kicked off on 15 September. Thus, the transition has allowed it to process 20-100K transactions per second compared to the previous rate of 30 tps. Also, Ethereum has become energy efficient, resulting from lowered consumption.
The main question that users now ask is about the Graphic Processing Units market. As validators have replaced the mining process, there is no need for GPUs. Thus, when GPUs are not needed, their price will drop considerably. An example is Nvidia’s RTX 3080, as its price dropped from $1,118 to $700 in China. So, there is a likely chance that it will happen in the rest of the world.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC eyeing $20K again
Bitcoin has higher opportunities for growth compared to the past. Over 12,000 companies in Brazil have declared crypto holdings. The current data tells that it is the largest amount ever recorded. So, Bitcoin can play a role in furthering it while also making a place for its growth.
The recent data for Bitcoin shows growth in value. The latest data shows that it has added 0.45% over the last day. The seven-day data for Bitcoin shows addition of 1.54%.
The price value for BTC is currently in the $19,493.27 range. The market cap value for Bitcoin is estimated to be $374,102,678,239. The 24-hour trading volume of Bitcoin is about $17,300,761,028.
ETH gathers courage
Analysts suggest that Ethereum price uncertainty may end with a triangle breakout. There have been two converging trendlines for Ethereum witnessed over the past three months. So, there are chances that it regains momentum after losses.
The recent changes for Ethereum show growth in its value as it gained momentum. The latest data shows that it has added 1.39% over the last 24 hours. The weekly data shows addition of 2.66%.
The price value for ETH is currently about $1,330.39. The 24-hour trading volume of this coin is estimated to be $63,517,995,932. The 24-hour trading volume of this coin is about $5,788,369,729.
CHZ trying to revive
The value of Chiliz also shows enhancement as it gained value. The recent data shows addition of 0.65% over the last day. In comparison, the seven-day data shows a loss of 1.16%. The positive changes have helped its price value hike to $0.2158.
The market cap value for CHZ is estimated to be $1,296,222,259. The 24-hour trading volume of this coin is about $115,659,310. The same amount in its native currency is about 535,402,482 CHZ.
MANA in gains
The performance of Decentraland MANA also shows a positive trend. The latest data shows it has added 0.62% over the last 24 hours. In comparison, the weekly data shows addition of 1.77% for it. The price value of MANA has enhanced to $0.6954 as a result of bullishness.
The market cap value for Decentraland is estimated to be $1,291,996,887. The 24-hour trading volume of this coin is about $54,880,738. The circulating supply of this coin is about 1,855,084,192 MANA.
Final Thoughts
The global crypto market has seen a change in performance as it turned bullish. The recent hours brought considerable gains to various coins. The value of Bitcoin, Ethereum, and others has shown a considerable enhancement due to this change. The global market cap value also saw improvement. The latest data shows that it is estimated to be $947.27 billion.
