The performance of the global crypto market has seen improvement over the last day. The changes in the market this time are positive as it added a considerable amount. The recent changes show that the value of Bitcoin, Ethereum, and others has appreciated considerably. As the positive changes continue, the market will gain value. Though there has been a continuous trend of losses, the relief has come in the form of a stronger bullish wave. If the current situation persists, the market might regain value.
EU is set to launch a blockchain and NFTs-based anti-counterfeit system. The news came from the European Union Intellectual Property Office, which said it is adding finishing touches to the system. If the system goes as planned, the changes will go live in 2023, which will be a great success for the EU. EUIPO is responsible for looking after the trademarks and intellectual property in the EU.
As the system goes live, manufacturers will create NFTS for their products to ensure that their product is authentic. The accurate record of the product will be available in the distributed ledger. If the product is sold or the intellectual rights change, the ownership rights can be transferred from one person/organization to another. The step will create ease in the identification of genuine products.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC gains traction
El Salvador had taken some big steps a year ago regarding Bitcoin adoption. In a big move, it made Bitcoin the legal tender of the country. A year later, the game is not in its favor. The available information shows that it has been in losses and couldn’t benefit from Bitcoin as it had planned.
The recent changes for Bitcoin show a slight improvement in value. The latest data shows that it has added 2.52% over the last 24 hours. The seven-day data for Bitcoin shows that it has shed 4.67%.
The recent changes have strengthened Bitcoin’s price value, as it is currently in the $19,234.62 range. The market cap value for Bitcoin is estimated to be $367,759,301,586. The 24-hour trading volume of this coin is about $34,078,813,996.
ETH adds speedily
As the Ethereum merge is nearing, different crypto companies have begun to take steps. According to media outlets, Binance US has launched Ethereum staking on its platform ahead of the merge. The changes came into effect on Wednesday for the US-based users.
The performance of Ethereum has also seen improvement as the market remained favorable. The recent changes show a gain of 6.90% over the last 24 hours. The weekly data shows that it has added 3.50%.
The price value for ETH is currently in the $1,623.80 range. The market cap value for this coin is about $198,151,372,556. The 24-hour trading volume of this coin is about $18,785,581,231.
WAVES in gains
The performance of Waves has also improved as the market saw a favorable situation. The recent data for this token shows an addition of 3.72% in 24 hours. The seven-day data shows a loss of 1.97%. The price value for this token is about $4.40 and might improve further.
The market cap value for Waves is estimated to be $480,270,839. The 24-hour trading volume of this token is about $77,277,938. The same amount in its native currency is about 17,582,002 WAVES.
STX bullish
Stacks has also remained bullish as the influx of capital continues. The latest data shows it has added 4.02% over the last 24 hours. The weekly data shows that it has shed 3.48%. The price value for STX is currently in the $0.3517 range.
The market cap value for Stacks is estimated to be $468,340,117. The 24-hour trading volume of this token is estimated to be $8,602,186. The circulating supply of this token is about 1,332,605,973 STX.
Final Thoughts
The performance of the global crypto market has enhanced considerably due to gains. The recent bullish wave has brought the market to a gaining position. The value of Bitcoin, Ethereum, and others enhanced considerably. As the positive changes continue, the global market cap value has also enhanced. The recent data shows that it is currently estimated to be $974.01 billion.
