The global crypto market has continued to grow in value due to bullish changes. The recent changes for Bitcoin, Ethereum, and others show that there has been a significant increase in their value. As the market has taken a positive turn, investors’ hopes have been revived. There had been a trend of decline in the market over the last few days. As the collapse of FTX took place, there had been a lasting pessimism. If the current bullish trend continues, it will give hope to the investors.
VISA has terminated its credit card program with FTX following its filing for bankruptcy. A spokesperson from Visa confirmed that the company has terminated its global agreements with FTX. The agreement between the two giants had taken place a month back. The original plan was to roll out a debit card program in 40 countries worldwide. Visa abruptly ended its agreement after FTX’s insolvency issues and the following bankruptcy.
FTX’s liquidity issues were triggered following an announcement from Binance CEO CZ. He had announced that Binance will liquidate the entirety of its FTT holdings. The value of the FTX token had risen significantly after the announcement of a partnership between FTX and Visa. The recent turn of events has brought FTT price value to new lows.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC continues to rise
The Bank of International Settlements studied the main motives behind Bitcoin adoption by retail investors. The report says that Bitcoin buyers were drawn by rising prices, not dislike for banks. Bitcoin came to the fore following the global financial crisis of 2008.
The recent changes in Bitcoin show that it has continued to strengthen. The latest data shows that it has added 4.22% over the last 24 hours. The weekly performance of Bitcoin shows a loss of 18.01%.
The price value of BTC is currently in the $16,609.88 range. The market cap value of Bitcoin is estimated to be $322,876,181,642. The 24-hour trading volume of Bitcoin is about $48,269,679,982.
ETH continues positive
Ethereum has seen a massive accumulation but there has been a question of whether it will be enough for its substantial move. The buying pressure of Ethereum is building up supported by ETH whales and retail accumulation. The ETH selling pressure gradually tapered out and might strengthen this coin.
The performance of Ethereum has also improved following the bullish wave. The latest data shows that it has added 6.09% over the last day. The weekly data shows that it has shed 18.19%.
The price value of ETH is currently in the $1,261.68 range. The market cap value of this coin is estimated to be $154,396,068,164. The 24-hour trading volume of the same coin is about $14,440,634,883.
SOL regains momentum
The performance of Solana has also shown a positive trend. The latest data shows that it has added 13.27% over the last 24 hours. The performance of this coin for the last seven days shows that it has shed 49.47%. The price value of SOL is currently in the $14.27 range.
The market cap value of Solana is estimated to be $5,168,067,396. The 24-hour trading volume of this coin is about $1,334,380,384. The same amount in its native currency is about 94,057,771 SOL.
UNI continues bullish
There has been a significant improvement for Uniswap as it continues to add. The recent data shows that it added 10.04% over the last day. The weekly data for this coin shows that it shed 11.38%. The price value of UNI is currently in the $6.07 range.
The market cap value for Uniswap is estimated to be $4,625,728,199. The 24-hour trading volume of this coin is about $215,118,969. The circulating supply of this coin is about 762,209,327 UNI.
Final Thoughts
The global crypto market has witnessed a speedy rise in value. The recent changes for Bitcoin, Ethereum, and others show that the market is gaining traction. As the value of the market has continued to improve, there has been a rise in new investments. The ongoing changes tell of the strengthening value of the global market cap value. The latest data shows that it is estimated to be $843.84 billion.
