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Daily price analysis of Bitcoin, Ethereum, XRP and Polkadot – December 10 roundup

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  Bitcoin

The global crypto market has seen positive changes in performance in recent hours. The performance of Bitcoin, Ethereum and others shows significant improvement. As the market continues to rise, there has been a significant change in its value. Most traders are in the market for profit and have invested more capital to take advantage of the opportunity. As the upward trend continues, the influx of capital will strengthen the market. If the market needs stability, it must rid itself of constant fluctuations.

A Supreme Court case could have lasting effects on Facebook and other social networks, allowing blockchain to replace them. If the Supreme Court overturns Section 230, it will become very difficult for centralized social media companies. The internet is broken and companies are constantly improving monitoring in the form of advertising conversions. The mentioned factor has led to fraud and other cases affecting users.

Giants like Google and Facebook have a monopoly on digital identities and their verification. The existing situation in the form of section 230 is suitable for them. Things may change if the Supreme Court decides on the matter. Gonzalez vs. Google. The aforementioned can completely remove or replace the section and affect focused social media platforms.

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

The power of BTC again

Grayscale Investments has announced in a statement that the SEC has filed its first legal report in an ongoing Bitcoin Futures ETF lawsuit. The SEC has emerged as a giant in crypto and blockchain regulation as the market has taken a sharp turn. The collapse of FTX and others has created a huge liability for the SEC and CFTC.

BTCUSD 2022 12 11 08 28 00
Source: TradingView

The performance of Bitcoin has shown a significant improvement in recent hours. The latest data shows that it has increased by 0.04% in the last 24 hours. Seven-day data shows that Bitcoin is up 1.07%.

BTC price value is currently in the range of $17159.78. Bitcoin market cap is estimated at $329,989,606,102. Bitcoin’s 24-hour trading volume is about $12,430,578,661.

ETH is bullish

With Binance transferring funds for PoR, Ethereum gas costs have increased. According to available reports, gas costs have recently increased to around 233 GWEI. Rising gas costs will impact the overall market as it continues to struggle through the turmoil.

ETHUSDT 2022 12 11 08 29 35
Source: TradingView

The value of Ethereum is likely to improve as a result of improved capital inflows. The latest data shows that it has increased by 0.42% compared to the previous day. The weekly performance shows an increase of 0.98%.

ETH price value is currently in the range of $1,270.54. The market value of this coin is estimated at $155,480,476,010. The 24-hour trading volume of this coin is about $3,168,445,066.

XRP loss reduction

XRP value is likely to recover as it has shown signs of easing losses. The latest data shows that it fell by 0.17% in the previous day. Seven-day data shows a decline of 0.78 percent. The price of XRP is currently in the range of $0.3879.

XRPUSDT 2022 12 11 08 28 40
Source: TradingView

The market cap of XRP is estimated at $19,548,017,219. The 24-hour trading volume of this coin is about $315,059,379. The same amount in its native currency is about 812211383 XRP.

DOT is still bearish

Polkadot has also been on the downside as it continues to post losses. The latest data shows that it has fallen by 0.12% in the last 24 hours. The seven-day data shows a decrease of 4.48%. DOT price value is currently in the range of $5.29.

DOTUSDT 2022 12 11 08 29 10
Source: TradingView

Polkadot’s market cap is estimated at $6,059,928,724. The 24-hour trading volume of this coin is about $94,841,605. The circulating supply of this coin is about 1,145,684,807 DOT.

Final thoughts

The global crypto market has seen positive changes in performance in recent hours. The performance of Bitcoin, Ethereum and others has shown significant improvement. As the market has recovered, capital inflows have also increased. The total global market value has also improved as it is estimated to be $855.94 billion.

disclaimer The information provided is not commercial advice. Ramzifa.ir is not responsible for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.