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Daily Bitcoin, Ethereum, Algorithm and VeChain Price Analysis – December 6 Roundup

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  Bitcoin

The global crypto market has witnessed a positive change as it has made significant changes in losses. Recent hourly data shows that the performance of Bitcoin, Ethereum and others has improved. Capital inflows have also increased as the market has shown hope for a revival. As the market continues to improve, it is likely to increase in value.

OG Winamp audio app has added Ethereum and Polygon Music NFT support. The mp3 player from the 90s is making a comeback by entering the blockchain music scene. According to available information, the classic Windows Media Player has integrated music NFTs into its platform. The new feature allows users to play audio files embedded in their non-fungible tokens, and is called the Web3 Desktop Update. The official Twitter office of Winamp announced this news a few hours ago.

The latest version of Winamp, launched in 1997, allows music fans to connect their Metamask wallet to it. The mentioned wallet can be connected to this app through Brave, Chrome or Firefox browser. Winamp supports ERC-721 and ERC-1155 audio and video files. In addition, it is compatible with Ethereum and Polygon. NFTs prove digital ownership and provide a tamper-proof record of transactions involving digital assets.

Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum and others.

Bitcoin remains at $17,000

Bitcoin Digital Marathon’s production slowed in November as King Mountain operations shut down. The company said in a statement on Tuesday that it produced 472 bitcoins in November. The amount produced is 23% less than the amount produced in October.

BTCUSD 2022 12 07 07 16 07
Source: TradingView

Recent changes for Bitcoin indicate a significant improvement in value. The latest data shows that it fell 0.04% in the previous day. Seven-day data shows an increase of 0.78 percent.

BTC price value is currently in the range of $17057.84. Bitcoin market cap is estimated at $327,960,261,508. Bitcoin’s 24-hour trading volume is about $19,843,577,445.

Recover ETH power

Ethereum balance on exchanges has reached its lowest point due to market turmoil. According to available updates, its inventory has reached its lowest level in 4 years due to declining trust. The ongoing chaos in the market has led to a steady decline in the amount of ETH on centralized exchanges.

ETHUSDT 2022 12 07 07 16 31
Source: TradingView

Ethereum’s performance has also shown optimistic results. The latest data shows that it has increased by 0.06% in the last 24 hours. The seven-day performance shows a fall of 0.57%.

ETH price value is currently in the range of $1267.32. The market value of this coin is estimated at 155,086,652,143 dollars. The 24-hour trading volume of this coin is about $5,144,922,568.

ALGO still has losses

Despite the market improvement, Elgorand has been making losses. The latest data shows that it fell by 1.41% in the previous day. The weekly performance shows a decline of 4.99%. ALGO price value is currently in the range of $0.2338.

ALGOUSDT 2022 12 07 07 16 53
Source: TradingView

Algorand’s market value is estimated at $1,666,188,864. The 24-hour trading volume of this coin is about $43740629. The same amount in its native currency is about 187,029,131 ALGO.

Descending VET

VeChain’s performance has also shown a downward trend. The latest data shows that it has fallen by 0.58% in the last 24 hours. Seven-day data shows a rise of 1.21 percent. VET price value is currently in the range of $0.01925.

VETUSDT 2022 12 07 07 18 11
Source: TradingView

The market cap of VeChain is estimated at $1,395,652,386. The 24-hour trading volume of this coin is about $24,298,723. The circulating supply of this coin is about 72,511,146,418 VET.

Final thoughts

The global crypto market has seen positive changes in performance in recent hours. The performance of Bitcoin, Ethereum and others suggests that they have cut losses. As the market continues to improve, capital inflows have also increased. Increased capital inflows are expected to boost the weak market. The total value of the global market is estimated at 855.77 billion dollars.

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