The global crypto market has seen a positive trend over recent hours. The performance of Bitcoin, Binance Coin, and others shows a significant improvement. The market had faced turbulence for the last two days as there were rumors regarding Binance Exchange. The mentioned situation led to speedy withdrawals, which ultimately came to a halt after relative stability. As the market has continued to improve, there has been a significant change in its value.
Elon Musk has hinted at creating a payment app to compete with PayPal. The Twitter owner said in a statement that Twitter has turned to an episode of the British television program Black Mirror. He further indicated that he is working on a Twitter payment processor, which is going to be better compared to PayPal. When a Twitter user asked him whether he would rediscover the payment system, Musk responded that it is going to be great.
Elon Musk has described the ideas of how Twitter should approach the payments industry. The new Twitter owner said that the users would soon be able to send each other money via this platform. However, there will be a restriction on funds being transferred only to confirmed bank accounts. Elon Musk noted that Twitter Blue would help in paving the way for the payment system.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin, and others.
BTC closer to $18K
The world’s largest ecological mining pool is set for launch in 2023. As Bitcoin has been the center of controversy because of Carbon emissions, there is hope for change. PEGAPOOL, the first BTC eco-friendly mining pool, will be launched at the start of 2023.
The performance of Bitcoin shows a considerable improvement. The latest data shows that it has added 2.44% over the last 24 hours. The weekly performance of Bitcoin shows that it has added 6.37%.
The price value of BTC is currently in the $17,878.55 range. The market cap value of Bitcoin is estimated to be $343,869,284,761. The 24-hour trading volume of Bitcoin is about $23,003,310,494.
BNB regains strength
Tron founder Justin Sun has withdrawn 100 million BUSD from Binance. Sun did so on Wednesday, and it is an indication of the fact that the FUD might be coming to an end. He had deposited this amount to support the exchange, which faced immense pressure of withdrawals.
The performance of Binance Coin has also shown improvement due to the influx of capital. The latest data shows that it has added 1.93% over the last day. The seven-day data shows that it has shed 3.85%.
The price value of BNB is currently in the $272.17 range. The market cap value of this coin is estimated to be $43,538,689,642. The 24-hour trading volume of the same coin is about $1,278,396,707.
TRX continues to rise
The value of Tron is also on the rise as the market remains favorable for it. The latest data shows that it has added 3.43% in the last 24 hours. The seven-day data shows that it has added 3.90%. The price value of TRX is currently in the $0.0552 range.
The market cap value of Tron is estimated to be $5,080,985,219. The 24-hour trading volume of this coin is about $235,398,580. The same amount in its native currency is about 4,265,730,774 TRX.
AVAX bullish
Avalanche has also stayed in a good situation because of the bullish investors. The latest data shows that it has added 5.61% over the last 24 hours. The weekly data shows that it has added 4.55%. The price value of AVAX is currently in the $13.80 range.
The market cap value of Avalanche is estimated to be $4,286,892,069. The 24-hour trading volume of this coin is about $294,719,518. The circulating supply of this coin is about 310,673,952 AVAX.
Final Thoughts
The global crypto market has seen a favorable situation over recent hours. The performance of Bitcoin, Ethereum, and others shows a bullish trend. The market has resumed its journey after the rumors of Binance’s collapse slowly died down. As a result of the current changes, there has been an improvement in the global market cap value. The latest data shows that it is estimated to be $874.96 billion.
