The global crypto market has surprised analysts and investors as it took a turn. The recent changes in the market showed a declining trend for Bitcoin and others. There was a chance that the market would lose momentum, but the recent changes have strengthened it further. As the market has retained momentum, it has added new gains to the investors’ capital. The bullish trend seems likely to continue, strengthening it further as it is retesting new resistance levels for various coins.
Russia has continued to look for alternatives after the US sanctions after its Ukraine invasion. In a recent update, the OKX website has been blocked in Russia for an unknown reason. The trading website OKX wasn’t accessible in Russia as updated by the Roskomsvoboda, a platform that keeps track of censored websites. There is no clarity about why this website was blocked and when it will be online.
However, the recent changes show that there is a likely chance Russia is out for crypto-related websites. Though hasty conclusions might not be good, Russia has begun to realize the impact of cryptocurrencies while the West has continued to cripple its economy. Though there is no clarity on how Russia will evade the sanctions, it has plans to adopt Bitcoin and other cryptocurrencies.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC resumes gains
Mcdonald’s is the latest name to add Bitcoin and Tether to payment options. According to the latest updates, the company has announced that it will accept the two coins in Lugana, Switzerland. There are chances that it will expand the acceptance of crypto to other areas.
Source: TradingView
The recent changes for Bitcoin show the continuation of the bullish trend. The latest data shows an addition of 0.81% to this coin over the last 24 hours. The seven-day data shows that Bitcoin has added 5.17%.
The price value for Bitcoin saw a hike, which is currently about $20,386.67. The market cap value for BTC is estimated to be $390,822,465,184. The 24-hour trading volume of Bitcoin is about $34,561,665,101.
ETH likely to cross $1.4K
Ethereum has seen an increase in regulatory scrutiny in recent months. The recent changes came from its transition to Proof of Stake. Various regulatory authorities have continued to watch for it, and the question is whether it will succumb to the pressure.
Source: TradingView
The performance of Ethereum has also shown a trend of gains. The latest data shows that it has added 1.78% over the last day. The weekly data shows an addition of 3.01% for this coin.
The price value for ETH is currently in the $1,378.70 range and is likely to rise. The market cap value for this coin is estimated to be $169,288,290,021. The 24-hour trading volume of the same coin is about $10,670,718,638.
MKR rising high
The value of Maker has also seen a rising tide as the result of the influx of capital. The latest data shows that it has added gains of 1.29% in 24 hours. The seven-day data shows that it has added 14.32%. The price value of MKR rose to the $850.15 range.
Source: TradingView
The market cap value for Maker is estimated to be $831,922,932. The 24-hour trading volume of this coin is about $29,159,547. The same amount in its native currency is about 46,018 MKR.
HNT on gaining spree
The performance of Helium has shown a speedy influx of capital. The latest data shows that it has added 5.74% over the last day. The seven-day data shows that it has continued gains, adding 8.08%. These gains have accompanied a rise in value as its price value reached $5.60.
Source: TradingView
The market cap value for Helium is estimated to be $715,174,509. The 24-hour trading volume of this coin is about $71,739,198. The circulating supply of this coin is about 127,664,763 HNT.
Final Thoughts
The global crypto market has continued gains despite slight changes in the last day. The ongoing changes have brought gains to Bitcoin, Ethereum, and others. As the influx of capital continues, there has been a rise in the global market cap value. The latest data shows that it is estimated to be $974.52 billion.
