The global crypto market has changed as the influx of capital increased. These changes brought Bitcoin, Binance Coin, and others back to business as they faced hard times. The sudden increase in value has helped them regain momentum. While the overall market has also seen improvement as its value has enhanced. It is yet to be seen how long will this bullish wave last.
India has been making desperate efforts to reduce the efflux of capital. Some include increased tax on crypto, increased regulations, and changed policies to reduce capital outflow. The latest came from increased duty on gold to ensure its deficit is decreased. It has been seeking for a long while to reduce the imbalance as its economy has faced problems due to global turbulence.
It had recently announced an additional 1% tax on crypto, which had led to an outcry from crypto exchanges. It had already announced a staggering 30% tax on crypto gains which affected its crypto investors.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and others.
BTC leaps $20K
The updates for various Bitcoin mining companies show that they have seen a rise in the value of profits. BitNile mined 46.4 Bitcoin in June, while its production in May was 39.0. These changes have brought an additional profit of 19% this month, which is a good sign in the bearish times.
The latest data for Bitcoin shows that it has added 4.65% over the last day. If we compare the performance of Bitcoin for the last seven days, it has added 0.85%. The speedy influx has helped Bitcoin revive both metrics.
The price value for Bitcoin is in the $20,240.02 range. If we compare the market cap value for Bitcoin, it is estimated to be $365,366,231,120. The 24-hour trading volume of Bitcoin is about $28,154,481,615.
BNB continues to rise
Binance has partnered with Latam Gateway, which will offer its customers financial services in Brazil. It had suspended the withdrawal and deposit service in Brazil due to issues with the payment partner. Now, its services have been resumed, and the customers can utilize them.
Binance Coin has also seen an increase in gains value as it has added 6.38% over the last 24 hours. The gains for the last seven days are about 8.86%. It has also seen an improvement in price value due to these gains.
The price value for BNB is in the $237.92 range. If we look at the market cap value for this coin, it is estimated to be $38,847,003,091. The 24-hour trading volume of this coin is about $1,341,003,975.
LTC sees a zig-zag movement
Litecoin has also been in gains even though they have fluctuated. The latest data shows it added 4.08% over the last day. These changes have resulted in the reduction of weekly losses, which are about 4.10%. The price value of LTC is also on its way to recovery, as it is currently about $50.24.
The market cap value for this coin is estimated to be $3,543,315,961. The 24-hour trading volume of this coin is about $503,725,970. The same amount in its native currency is about 10,045,142 LTC.
ATOM super-bullish
Cosmos has seen a super-speedy influx of capital as it has added 7.01% over the last day. The seven-day performance for this coin has also improved as it shows an influx of 25.25%. These changes have helped it enhance the price value, which is currently about $9.01.
The market cap value for this coin is estimated to be $2,555,929,145. The 24-hour trading volume of the same coin is about $741,526,668. The circulating supply of this coin is about 286,370,297 ATOM.
Final Thoughts
The recent changes in the global crypto market have brought it a bullish rally. This change has resulted in the bullishness of the overall market as coins saw growth. As the mentioned change has brought the market influx of capital, Bitcoin has crossed $20K. The global market cap value also improved as it reached $908.97 billion.
