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  • Daily price analysis of Bitcoin, Ethereum, Cardano and Tron – July 7 summary

Daily price analysis of Bitcoin, Ethereum, Cardano and Tron – July 7 summary

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  Bitcoin

As the capital inflow continues, the performance of the global crypto market has shown an upward trend. Positive changes for Bitcoin, Ethereum and others have continued without impact and strengthened the market. As this influx has continued unabated, global market value has increased. The bullish wave was formed after a bearish current that did not allow it to cross the barrier of the particular range. It remains to be seen whether this wave will be a continuation of the previous trends or not.

One of the main reasons for the stagnation in the global crypto market is the fraud allegations that various companies have faced. The latest on the list is Celsius, which has been accused of fraud and called a Ponzi scheme by Jason Stone’s KeyFi company.

Layoffs have continued in the crypto market as the market conditions haven’t changed much. According to the latest updates, Bitcoin mining company Compass has reduced its staff by 15%.

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

Bitcoin crossed $22,000

The effects of the Bitcoin downturn have continued for companies, with one recent victim being Marathon Digital, whose stock has continued to fall. The reason for this loss is the decrease in Bitcoin production in the last three months. If Bitcoin is not recovered in time, the effects may continue.

BTCUSD 2022 07 08 07 13 56
Source: TradingView

The latest data for Bitcoin shows that it has increased by 7.90% in the past day. The seven-day performance in the past seven days shows that Bitcoin has risen 8.49%. The increase in profits has helped to increase its value.

The price of Bitcoin is in the range of $22,107.88. If we look at the market cap of Bitcoin, it is estimated to be $421,992,368,229. Bitcoin’s 24-hour trading volume is about $27,942,251,873.

ETH continues unabated

Ethereum has continued to expand its sphere of influence as it has decided to make a traditional bank miserable. According to information, American Bank Huntingdon Valley Bank will be connected to Ethereum DeFi protocol MakerDAO. This was the result of a historic vote on Ethereum.

ETHUSDT 2022 07 08 07 16 13
Source: TradingView

Ethereum also continues to benefit from the bull market, gaining 6.12% in the past day. Changes in the last seven days show a rise of 14.32%. These changes have helped it to partially offset the effects of the recent downturn.

The price of Ethereum is in the range of $1255.32. If we compare the market value of this coin, it is estimated at $152,876,391,083. The 24-hour trading volume of this coin is about $15,183,841,574.

ADA is trying to pick up the pace

Cardano has tried to increase its speed. The latest data shows that it has increased by 4.26% in the past day. Changes in the last seven days show a rise of 4.12%. The value of the price has also increased to $0.4869.

ADAUSDT 2022 07 08 07 22 07
Source: TradingView

The market value for ADA is estimated at $16,427,648,959. The 24-hour trading volume of this coin is about $662,017,151. The circulating supply of this coin is about 33,739,028,516 ADA.

TRX in a bullish mood

Tron was also bullish as it gained 2.74% in the previous day. These changes have resulted in an addition of 5.89% in the past seven days. The price value was also positive and reached $0.06942.

TRXUSDT 2022 07 08 07 23 55
Source: TradingView

The market cap of TRX is estimated at $6,419,920,677. The 24-hour trading volume of this coin is about 634682440 dollars. The same amount in its native currency is about 92,483,066,973 TRX.

Final thoughts

As the capital inflow continues, the global crypto market has continued its positive momentum. These changes have brought significant value to it. This has helped coins like Bitcoin, Ethereum and others to add significant value to their reserves. While if we look at the value of the total global market, it has reached 973.99 billion dollars. Moving forward means it will continue like this.