Global crypto market cap has continued to grow due to bullish swings. Recent changes for Bitcoin, Ethereum and others show that their value has increased significantly. As the market has gone through a positive trend, investors’ hopes have revived. There was a downward trend in the market for the past few days. As the FTX crash happened, there was a lingering pessimism. If the current uptrend continues, it will give investors hope.
VISA terminated its credit card program with FTX after filing for bankruptcy. A Visa spokesperson confirmed that the company has terminated its global contracts with FTX. The agreement between the two giants was made a month ago. The initial plan was to launch a debit card program in 40 countries around the world. Visa abruptly ended the deal after FTX’s bankruptcy troubles and subsequent bankruptcy.
FTX’s liquidity problems started after Binance CEO CZ’s announcement. He had announced that Binance would liquidate its entire FTT holdings. The value of the FTX token had increased significantly after the announcement of the partnership between FTX and Visa. The recent turn of events has pushed the FTT price to an all-time low.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum and others.
Bitcoin continues to rise
The Bank for International Settlements examined the main motivations for the adoption of Bitcoin by retail investors. The report says that bitcoin buyers are attracted by rising prices, not aversion to banks. Bitcoin emerged after the global financial crisis in 2008.
Recent changes in Bitcoin indicate that it has continued to strengthen. The latest data shows that it has increased by 4.22% in the last 24 hours. Bitcoin’s weekly performance shows a decline of 18.01%.
Bitcoin price value is currently in the range of $16,609.88. Bitcoin market cap is estimated at $322,876,181,642. Bitcoin’s 24-hour trading volume is about $48,269,679,982.
ETH remains positive
Ethereum has seen a huge rally, but the question is whether it will be enough to make a significant move. Ethereum buying pressure is increasing with the support of ETH whales and retail accumulation. Selling pressure on ETH gradually eased and may boost the coin.
Ethereum’s performance has also improved after the bullish wave. The latest data shows that it has increased by 6.09% in the last day. Weekly data shows a drop of 18.19 percent.
ETH price value is currently in the range of $1261.68. The market value of this coin is estimated at 154,396,068,164 dollars. The 24-hour trading volume of this coin is about $14,440,634,883.
SOL regains its momentum
Solana’s performance has also shown a positive trend. The latest data shows that it has increased by 13.27% in the last 24 hours. The performance of this coin in the last seven days showed a drop of 49.47%. The price value of SOL is currently in the range of $14.27.
Solana’s market value is estimated at $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 its upward trend
There is significant progress for Uniswap, which continues to be added. Recent data shows that it has increased by 10.04% in the past day. The weekly data of this coin shows that it has decreased by 11.38%. The price value of UNI is currently in the range of $6.07.
Uniswap’s market cap is estimated at $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 seen a rapid increase in value. Recent changes for Bitcoin, Ethereum and others show that the market is on the rise. As the market value continues to improve, new investments have increased. The continuous changes indicate the strengthening of the value of the global market value. The latest data shows that this figure is estimated at 843.84 billion dollars.