The global crypto market has finally regained momentum after seeing lasting losses. The recent hours brought considerable improvement to the market. The value of Bitcoin, Binance Coin, and others saw a considerable rise. The changes suggest that the market might see a further rise. As the Ethereum merge took place recently, the market saw moments of respite. Now, various coins are attempting to regain value. Market analysts are bullish on Bitcoin, and it might see a speedy rise.
Fintech banking platform TrueLayer has said that it has plans to reduce its workforce by 10%. The firm published a blog earlier this week citing various reasons for this hard decision. The company’s CEO, Francesco Simoneschi, said that they made this decision after consulting with stakeholders. The blog said that the firm is competing in a challenging and unfavorable environment, forcing it to take this decision.
The firm CEO said they are not immune to unfavorable situations and had to take this bitter pill. The company serves companies by providing tools for fintech and open banking. TrueLayer sealed a $130 million fundraising project spearheaded by the Tiger Global leadership. The firm also earned the title of the unicorn as it crossed $1 billion worth.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and others.
BTC fluctuating
The recent changes in the market have shown an encouraging pattern for Bitcoin. Bloomberg Intelligence senior commodity strategist Mike McGlone has said that Bitcoin is likely to reach $100K soon if it retains its momentum. The value of Bitcoin is likely to enhance speedily once the macroeconomic winter passes.
The recent changes for Bitcoin show a continuation of the positive trend. The latest data shows it has added 1.11% over the last 24 hours. In comparison, the weekly data shows that it has shed 6.06%.
The price value for Bitcoin is currently in the $19,935.71 range. The market cap value for BTC is estimated to be $381,832,080,805. The 24-hour trading volume of Bitcoin is about $27,786,791,556.
BNB in gains
A Ukrainian supermarket chain, Varus, has announced that it will accept crypto payments via Binance. Businesses have begun to revive due to the enhancement in the Ukrainian offensive, giving them an upper hand. Binance assumed the role of a leading crypto exchange as a result of the downturn in the market.
The performance of Binance Coin has also shown improvement. The recent data shows that it has added 1.18% over the last 24 hours. The weekly data shows that it has receded by 5.22%.
The price value for BNB is currently in the $272.33 range. The market cap value for this coin is estimated to be $44,718,791,656. The 24-hour trading volume of this coin is about $635,028,712.
FTM reclaims ground
Fantom has reclaimed ground as the result of the bullish market. The recent changes show that it has added 2.13% over the last 24 hours. The weekly data shows that the losses for this coin are about 8.78%. The price value for FTM is currently in the $0.249 range.
The market cap value for FTM is estimated to be $633,703,589. The 24-hour trading volume of this coin is about $78,378,527. The same amount in its native currency is about 314,774,677 FTM.
SNX rebounds
Synthetix has also been in a good mood as the influx of capital continues. The latest data shows it has gained 1.94% over the last 24 hours. The seven-day data shows that it has receded by 10.96%. The price value for SNX is currently in the $2.65 range.
The market cap value for Synthetix is estimated to be $631,961,196. The 24-hour trading volume of this coin is about $34,727,211. The circulating supply of this coin is about 238,500,594 SNX.
Final Thoughts
The global crypto market has significantly improved over the last 24 hours. Recent data shows that Bitcoin, Binance Coin, and others attracted significant gains. The favorable market has brought enhancement to the global market cap value. The recent data shows that it is estimated to be $966.38 billion.
