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  • Daily Price Analysis of Bitcoin, Binance Coin, Stacks and Loopring – Morning Price Prediction August 20

Daily Price Analysis of Bitcoin, Binance Coin, Stacks and Loopring – Morning Price Prediction August 20

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  Bitcoin

The global crypto market has changed course as various coins have been bullish. Bitcoin’s value recovered as losses narrowed. While in comparison, Binance Coin and others have made significant gains. The ongoing situation shows that the market is under pressure from investors. As the market goes up, investors will see increased profits. All the market needs is for the momentum to continue.

Some analysts have raised questions about Ethereum’s vulnerability to censorship after the merger. Recent changes in the market, such as sanctions against Tornado Cash, indicate that there is more to come. The Ethereum community has also started a discussion about resistance to ongoing changes. They have discussed the possibility of large validators being forced to censor transactions after the merger.

Vitalik Buterin, the founder of Ethereum, believes that censoring transactions will be an attack against the network. Some Ethereum projects have started blacklisting certain addresses after recent sanctions. Although the merger reduces Ethereum’s energy consumption by more than 90%, it threatens the freedom of users. The main allegation that led to the sanction is the allegation of money laundering with specific addresses.

Here is a brief overview of the current market situation, analysis of the performance of Bitcoin, Binance Coin and others.

BTC shows optimism

Bitcoin’s price has fallen more than 13% in the past seven days, raising questions about its future. All kinds of elements have challenged the value of Bitcoin’s price, but it has resisted. The constant changes show that Bitcoin has the potential to make a comeback.

BTCUSD 2022 08 20 19 37 02
Source: TradingView

The latest data for Bitcoin shows that it has added value. Bitcoin’s 24-hour data shows that the loss has narrowed to 0.89%. The shift in the market has resulted in Bitcoin’s weekly loss of 13.01%.

Bitcoin price is in the range of $21,294.90. Bitcoin market cap is estimated at $407,414,389,973. Bitcoin’s 24-hour trading volume is about $30,876,972,769.

BNB is bullish

Binance has continued to maintain licenses and permits around the world. Last on the list is a money transmitter license from the Nevada Department of Commerce. It has recently secured licenses and permits globally. The bear market pushed other major exchanges back and created opportunities for Binance.

BNBUSDT 2022 08 20 19 40 05
Source: TradingView

The value of Binance Coin has increased significantly. The latest data shows an increase of 0.94% in the previous day. Weekly data shows a loss of 12.77%. The price value for the same coin is in the range of $287.09.

The market cap for BNB is estimated at $46,311,795,827. The 24-hour trading volume of this coin is about $1,409,960,725.

STX is still losing money

The value of Stacks has also improved, but it cannot go up. The latest data shows a loss of 2.08% compared to the previous day. Weekly data shows a drop of 22.38%. STX price is in the range of $0.3959.

STXUSDT 2022 08 20 19 40 27
Source: TradingView

The market value of Stacks is estimated at $526,857,745. The 24-hour trading volume of this coin is about 101131577 dollars. The same amount in its native currency is about 25574612 STX.

LRC accelerates

Loopring has also benefited due to the bull market. The latest data shows a 0.47% increase of this coin in the last day. Weekly data shows a drop of 20.63%. The price value of LRC has improved due to the price increase to the range of $0.3798.

LRCUSDT 2022 08 20 19 41 54
Source: TradingView

The market cap of LRC is estimated at $505,879,319. The 24-hour trading volume of this coin is about $49,975,101. The circulating supply of this coin is about 1,330,119,710 LRC.

Final thoughts

The global crypto market has witnessed a paradigm shift. The latest data shows the profit trend of Bitcoin, Binance Coin and others. With the changes seen in the market, the value of various tokens has increased. Global market value has also seen a positive change recently. The latest data shows that it is currently estimated at $1.02 trillion.