The global crypto market has continued to move forward with bullish vigor. The recent changes brought Bitcoin and Ethereum past the crucial threshold level. As the gains continue, there has been an addition of considerable value to the market. The problem that the market has continued to face is the losses that come soon after the bullish wave. The global market cap value has been unable to change as the fluctuations continue.
India has proved to be one of the major markets for crypto because of its huge population. According to the available updates, implementing a 1% tax on crypto has dealt a heavy blow to the market. The market trading volumes have decreased drastically as the market has changed. The tax came to implementation on 1 July, and exchanges have been seeing a speedy reduction in investments.
India has been unable to finalize its crypto legislation and has gone for taxation. Various crypto enthusiasts have criticized this policy for being at odds with crypto. What will be India’s final policy toward this growing market is yet to be seen.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC crosses $20K
Bitcoin mining has been affected by the changes in the global crypto market. Despite this, there has been continuous investment from companies, and the latest on the list is Intel. It has shipped Blockscale ASIC chips to some Bitcoin mining companies. These are some ultra-low-voltage, energy-efficient chips.
The latest data for Bitcoin shows that it has added 6.01% over the last day. In comparison, the past seven days show a reduction in losses, which is about 2.01%. These changes have continued for a while in the market as it has fluctuated.
The price value for Bitcoin is in the $20,348.39 range. In comparison, the market cap value for Bitcoin is estimated to be $389,143,348,445. The 24-hour trading volume of Bitcoin is about $22,410,311,322.
ETH seeing a speedy rise
Ethereum mining has been more profitable for miners over the recent few months. According to the available data, Bitcoin revenues were far more than Ethereum, but the latter has improved considerably. On the other hand, Ethereum active addresses have touched 2020 levels, and some analysts predict the same about its price levels.
Ethereum has also seen improvement, adding 7.52% over the last day. The weekly performance has also seen improvement as it has shed 3.30%. It would take more gains to change this value to bullish.
The price value for ETH is in the $1,149.78 range. In comparison, the market cap value for Ethereum is estimated to be $140,036,461,316. The 24-hour trading volume of this coin is about $14,053,996,853.
EOS continues bullish
EOS has also seen a bullish day, adding 4.74% over the last day. If we compare the weekly performance, the gains for this coin are about 0.39%. These changes have enhanced its price value which is currently in the $0.9867 range.
The market cap value for EOS is estimated to be $980,345,406. The 24-hour trading volume of this coin is about $150,479,414. The same amount in its native currency is about 152,513,346 EOS.
MKR attempting to revive the value
Maker has also attempted to revive its value as it has added 5.15% over the last day. In comparison, the losses for the last seven days are about 5.40%. The market fluctuations have brought its price value to the $948.49 range.
If we peek at its market cap value, it is estimated to be $927,276,549. The 24-hour trading volume of this coin is about $107,394,153. The circulating supply of this coin remained at 977,631 MKR.
Final Thoughts
The global crypto market has continued to change in value as the to, and fro movement between gains and losses continues. The latest bout is that of bullishness as the market has added a considerable value. The performance of Bitcoin and other coins saw a positive change. The global market cap value has also improved as it is currently about $916.02 billion.
