The performance of the global crypto market has begun to improve as the new gains have strengthened it in value. The new additions to the market have helped it sail ashore in a better state than other days. The situation of the market over the last few days saw complete deterioration as the losses increased in value while there were few gains. The situation was heading towards a crash, but the new developments have helped it stay within a safe range. The situation will improve further if the gains continue with the same momentum.
The acceptance of crypto in the Middle East is growing as various industries have grown crypto-friendly. Previously there were official announcements regarding the protection and legislation for crypto. In the latest development, a property developer has announced that they will be accepting payments in Bitcoin and Ethereum. The statement came from Damac, well-known real estate management and development company in Dubai. Other companies might also be following the suit if this venture succeeds. Dubai has attracted crypto giants because of the tremendous opportunities for growth.
Here is a brief overview of the current market situation using the performance of Bitcoin, Binance Coin, and some other names.
BTC closer to $39K
Various countries have completed their legislation process regarding the regulation of crypto. The latest on the list is Uzbekistan, where the president has issued a decree regarding cryptocurrency regulation. It is good news for Bitcoin enthusiasts looking to open new markets. It will help increase opportunities related to Bitcoin mining because of the strong energy sector in the mentioned state.
The latest data for Bitcoin shows that it has improved tremendously over the last 24 hours. The gains for this coin amount to 2.65% over the last 24 hours. If we compare the weekly performance of Bitcoin, it shows a depreciation of 0.77%. The huge addition of new capital to Bitcoin has helped it cope with the amount of weekly losses successfully.
The current price value for Bitcoin has also increased, and it is in the $38,722.23 range. In comparison, the market cap value for Bitcoin is estimated to be $736,807,045,716. While the 24-hour trading volume for Bitcoin is about $27,331,665,422.
BNB enhancing value
Binance Coin has also improved significantly as the new gains hit it. The immediate change was a rise from dips that had emaciated Binance Coin. The new additions might help it recover to the previous price value soon. The gains for this coin are speedier compared to Bitcoin.
The latest data for Binance Coin shows that it has added 3.57% over the last 24 hours. If we compare its performance for the last seven days, the losses have been reduced to 0.33%. Further improvement is expected because the gains might not stop too soon.
The price value for Binance Coin has entered a safe stage as it was dwindling previously. The current price value for Binance Coin is in the $392.11 range. If we compare the market cap value, it is estimated to be $64,022,128,955. In contrast, the 24-hour trading volume of it remained $1,559,654,931.
Dogecoin has also seen hope in the new wave of bullishness. The previous wave of bearishness had left it nowhere as it was on a continuous decline. The latest data shows that it has added 4.00% over the last 24 hours. If we compare the gains to other days, the improvement might bring strength to its various indicators.
The current price value for Dogecoin is in the $0.1337 range. In comparison, its 24-hour trading volume of it is about $969,256,990. In comparison, the market cap value for it is $17,723,499,797. The circulating supply of Dogecoin remained at 132,670,764,300 DOGE.
DOT gains momentum
Polkadot remains in a better state than other days because of the improvement over the weekend. The changes have been encouraging for its value because of the addition of 5.39% over the last 24 hours. If we compare its performance over the last seven days, the losses have been reduced to 12.66%. The price value has increased due to these gains, bringing it to the $15.56 range.
If we take a peek at the market cap value for DOT, it is estimated to be $15,344,171,742. In comparison, its 24-hour trading volume of it is about $690,081,488. If we convert this amount to the native currency of Polkadot, it is about 44,414,923 DOT.
The situation of the global crypto market is improving as Bitcoin and altcoins have attracted new gains. The enhancement in the market performance has led to the improvement of the global market cap value, which is currently estimated to be $1.75T. The said increase in a single day is a great milestone for a continuously suffering market. The mentioned change will also help relieve those investors who constantly lose capital to dips.