The global crypto market has seen a positive change as the influx of capital strengthened. The recent changes for Bitcoin, Ethereum, and others show performance improvement. There had been a market trend of bearishness with small exceptions, i.e., bullish changes. The market has struggled with the current situation as the influx of capital hasn’t strengthened as expected. There were brief strong bullish waves in the past months, but they couldn’t last long to strengthen the market.
FTX CEO Sam Bankman-Fried has said that his brand is on-board with regulation. He reiterated that his brand would welcome the regulations lawmakers pushed to guide innovations in the cryptocurrency ecosystem. Sam Bankman-Fried was speaking at the Bipartisan Policy Center. He further said there had been observable friction between the industry and those wanting to introduce regulations.
He supported regulations and called it a healthy activity. Sam further said that the friction needs to end he is there to mediate if there is any need. He also said he is ready to provide any help required to bring functional regulations to the market. He also said that he had noticed non-welcome attitudes at the end of some industry leaders, but that has to end.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC trying to gain traction
Bitcoin holds steady as the market awaits pivotal inflation data. The CPI report is expected to be released tomorrow, as a result of which stocks have taken a hit but have been resilient so far. The impact is yet to be seen on Bitcoin.
The recent changes for Bitcoin show positive changes. The latest data shows that it has added 0.38% over the last day. The seven-day data shows a recession of 5.67% for Bitcoin.
The price value for BTC is currently in the $19,133.15 range. The market cap value for Bitcoin is estimated to be $367,052,672,143.
ETH turns bullish
Coin Center has sued US Treasury over the Tornado Cash ban. The federal suit could highlight conflicting statements from federal agencies regarding the national status of Ethereum. Recently, US federal agencies have issued statements about the control of Ethereum because its majority of assets are located in the US.
The recent performance of Ethereum also shows an improvement. The latest data shows that it has added 1.00% over the last 24 hours. The weekly performance shows that it has shed 5.60%.
The recent changes have brought its price value to the $1,295.70 range. The market cap value for this coin is estimated to be $159,173,614,813. The 24-hour trading volume of this coin is about $8,228,509,825.
QNT in gains
The value of Quant also improved due to the recent gains. The latest data shows that it has added 2.26% over the last day. The performance for the last seven days shows that it has added 11.71%. These changes have brought QNT price value to the $155.21 range.
The market cap value for Quant is estimated to be $1,879,008,578. The 24-hour trading volume of this coin is about $36,638,538. The same amount in its native currency is about 235,405 QNT.
LUNC changes direction
Terra Classic has also changed direction as a result of the recent changes in the market. The latest data shows that it has added 0.97% over the last 24 hours. The seven-day data shows that it has regressed by 3.62%. The price value for LUNC is currently in the $0.0002879 range.
The market cap value for Terra Classic is estimated to be $1,766,855,246. The 24-hour trading volume of this coin is about $393,075,092. The circulating supply of this coin is about $6,151,072,613,161 LUNC.
Final Thoughts
The global crypto market has seen a positive change recently. The ongoing changes show that Bitcoin, Ethereum, and others have turned bullish. The bullish trend has strengthened the overall market. If the current situation persists, the market will likely see a further value hike. The global market cap value has also seen a hike due to the bullish trend. The latest data shows that it is estimated to be $921.37 billion.
