The global crypto market has continued to add gains as the investors remain in a good mood. The positive thing for the market is the halt to sell-offs which had eroded its base. The changes for Bitcoin and other coins in the market show that the gains are growing. It might prove a turn for the weakening market, which has seen continuous depreciation. It can also be a short-lasting change that might not have continuing impacts.
The global crypto market has seen problems in the third world, especially in dictatorships. The latest news came from Iran, according to which the government has notified miners to be cut off from the system. According to their notification, they won’t be able to use electricity for crypto mining, and they will be cut off by June 22. The influx of about $70 billion in the last 24 hours brought hope as it saw a revival. But this change might slightly impact crypto mining which has continued to face problems.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and other altcoins.
BTC nearing $21K
Bitcoin has continued to see improvement as the market turns friendly. The changes have not just been on the side of price value and other metrics, but their hash rate has also improved. According to the latest available updates, Bitcoin has minted more than 13,000 ‘wholecoiners.’ The change has helped it add to its value.
The latest data shows that Bitcoin has gained 4.68% over the last 24 hours. In comparison, the losses for Bitcoin for the last seven days are about 14.67%. The decreasing tendency of losses shows an improving Bitcoin value.
The price value for Bitcoin is in the $20,625.69 range and is improving further. The market cap value for Bitcoin has also enhanced, estimated to be $393,380,543,435. The 24-hour trading volume of Bitcoin is about $34,827,828,298.
BNB sees slight improvement
Binance has continued to consolidate its efforts to improve services in Brazil. The change has come as the result of customers’ problems due to its previous payment partner. The latest in this regard is a suspension of direct deposits and withdrawals from Binance. It might continue until it makes necessary arrangements for these services.
Binance Coin has continued to improve its value as it has gained 2.31% over the last day. Though its pace for gains is not that high, it has reduced the weekly losses to 5.13%. The metrics for Binance Coin show continuous improvement.
The price value for BNB was enhanced to $213.46. The market cap value also saw an addition as it grew to $34,853,213,361. The 24-hour trading volume of this coin is about $1,295,293,718.
AAVE growing rapidly
Aave has also seen rapid growth as the market turned bullish. The changes have resulted in an addition of 17.66% to its value over the last day. The weekly performance has also seen improvement as it grew to +0.07%. The ongoing situation has also brought its price value to a satisfactory level, which is currently about $59.90.
The market cap value for AAVE is estimated to be $839,067,725. The 24-hour trading volume of this coin is about $216,532,649. The same amount in its native currency is about 3,586,080 AAVE.
XEC adds gradual gains
eCash has made attempts to revive its value. The latest updates for this coin shows addition of 3.59% over the last 24 hours. In comparison, the weekly performance still needs improvement as it shows a loss of 2.18%. The price value for this coin is currently in the $0.00003753 range.
In comparison, the market cap value for eCash is estimated to be $718,302,519. The 24-hour trading volume of this coin is about $12,970,130. The circulating supply for eCash remained 19,092,398,423,303 XEC.
Final Thoughts
The global crypto market is moving towards a rapid influx of capital. It has helped Bitcoin and other coins improve their value. Adding more than $70 billion to the market has given it new energy. The latest data regarding its market cap value shows that it has enhanced to $906.52 billion and might grow further. Lasting gains will help the market come out of the ongoing crisis.
