The performance of the global crypto market has shown optimistic results as the influx of gains continues. The recent changes in the market show that the market has continued to grow in value. The changes for Bitcoin, Ethereum, and others show that the market will likely continue. If the ongoing changes continue, the market might see a continued streak of gains. The bearish wave for the market has ended, but there is a need for a strong and sustained wave of gains.
Coinbase is fighting SEC for the privacy that is currently available to users. SEC has closed on Tornado Cash, and the next target might be these exchanges. Coinbase announced on 8 September that it is bankrolling a lawsuit against US Treasury Department. Six people brought the lawsuit, which challenges sanctions on Tornado Cash.
On 9 September, Gary Gensler said he is working closely with Congress to create legislation for cryptocurrency regulations. Though these stories are not directly linked, they show how proactive governments are regarding decentralized finance (DeFi). Tornado Cash was sanctioned by OFAC back in August 2022. The regulatory authority had alleged it of laundering more than $7 billion.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC stuck at $20K
Macroeconomist Luke Gromen has said that Bitcoin can benefit the US by creating an economic boom. He said that the US is standing in a position to benefit from this situation. Various countries have ignored the benefits that Bitcoin can bring to their regional markets due to the financial ease it can create.
The recent changes for Bitcoin show a continuation of gains. The latest data shows it added 0.25% over the last 24 hours. In comparison, the weekly data for Bitcoin shows a reduction of 7.33% in value.
The price value for BTC is currently in the $20,020.33 range. The market cap value for it is estimated to be $383,461,366,105. The 24-hour trading volume of Bitcoin is about $24,183,181,553.
ETH trying to regain momentum
Some analysts have called Ethereum merge nothing more than a ‘sell-the-news-event.’ The reason is the increased vulnerability to market fluctuations and no other significant change. ETH has continued to dip in value after the merge, and it seems dark at the end of the tunnel.
The value of Ethereum has seen fluctuations after the merge took place. The recent data for this coin shows that it has added 0.84% over the last 24 hours. In comparison, the weekly data shows that it has shed 17.51%.
The price value of ETH has also been affected as it is currently about $1,455.46. The market cap value for this coin is about $177,953,474,063. The 24-hour trading volume of this coin is about $10,421,637,983.
HBAR in losses
Hedera Hashgraph has also shown a negative trend. The recent changes for this coin show that it has shed 0.70% over the last 24 hours. The weekly data for this coin shows that it has receded by 4.04%. The price value of HBAR is currently in the $0.06144 range.
The market cap value for Hedera Hashgraph is estimated to be $1,409,728,739. The 24-hour trading volume of this coin is about $33,739,942. The same amount in its native currency is about 549,711,896 HBAR.
CHZ skyrockets
The value of Chiliz has been in a bullish mood as it has added 5.41% over the last 24 hours. The weekly data shows that it has gained 12.17%. The price value for CHZ is estimated to be $0.2246.
The market cap value for Chiliz is estimated to be $1,347,941,662. The 24-hour trading volume of this coin is about $431,995,420. The circulating supply of this coin is about 6,000,386,953 CHZ.
Final Thoughts
The global crypto market has seen a change in its performance. The recent data shows that Bitcoin, Ethereum, and others showed a positive pattern. As the market continues to gain value, there has been a significant change. The global market cap value has also shown improvement. The latest data shows that it is estimated to be $972.73 billion.
