Bitcoin has surged in the past 24 hours, adding 0.53% to its value.
Binance Coin remains bearish, down 0.46% in 24 hours.
Holo was bearish, down 0.81%, while Audius was bullish, up 7.30% in 24 hours.
Global cryptocurrency market shows signs of recovery, rising 0.08% in 24 hours.
After a huge recession, the global cryptocurrency market has turned bullish. The previous wave was significant because of the losses suffered in one day. Although it had tried to recover, the results were too low compared to the day before. The market needs to accelerate; Otherwise, another wave of bearishness could send its market value to an all-time low. Bitcoin remains impervious to this situation because it maintains its threshold level.
The debate over Twitter has been ongoing, with Musk offering to buy it for about $54 a share. Other giants in the market offering better prices have followed, and continue to do so. The latest is a proposal from Cardano's Charles Hoskinson to build a decentralized Twitter. The proposal was made to Musk by Hoskkinson, who was interested in buying the social media platform. Hoskinson says it will build a decentralized version of Twitter for Hoskinson. It remains to be seen what response they get from Mr Musk. If built, it will generate huge revenue.
Here is a brief overview of current market conditions using the performance of Bitcoin, Binance, etc.
BTC is on the road to recovery
Politicians are also aware that encryption can affect their politics. By the same token, they are already working on legislation that could help them later. Bitcoin has been and will continue to be one of the most influential coins around. Recent legislation in the United States shows just how much bitcoin has benefited. The recent "Bitcoin 2022" conference is a case in point.
The most recent data showed bitcoin up 0.78% in the last 24 hours. Bullish Bitcoin will try to cut its weekly losses. It is now down about 4.69 per cent in seven days, which would be much reduced if the momentum continues.
Bitcoin's current price value is in the $40,482.19 range. If we look at the market cap, it's estimated at $769,189,753,038. Bitcoin's 24-hour trading volume is estimated at $20,668,585,615.
BNB shows positive signs
As the overall market situation is better, binance coin also began to bullish. This time around, bitcoin was the first to turn bullish, as it had in the past. This time it is steadily moving towards stability and may take time.
Binance Coin has fallen 0.46% in its 24-hour performance. The aforementioned tokens are working to limit their losses and may soon join Bitcoin and Ethereum. In the past seven days, the comparison performance has been relatively stable, falling 1.89 percent.
Compared to the loss of smaller coins, Binance Coin's current price value is also stable at around $416.04. If we look at its market cap, it hasn't suffered much, estimated at $68,683,479,016. Binance Coin's trading volume indicates increased activity at about $1,193,018,045.
HOT loss reduction
Holo's performance graph shows that it has been fluctuating for a long time. The recent performance has improved slightly, but it may take a while to recover -- the token's daily loss was 0.81%. By comparison, Holo's weekly loss was about 6.56 percent.
The current bearish sentiment also weighed on prices, which fell to $0.005039. The coin has an estimated market value of $871,745,068. 24-hour trading volume was also affected by volatility, holding steady at $39,230,574.
Audio continues to grow
Audius is in relatively good condition compared to other coins. Its value continues to grow while other values decline. Its 24-hour data shows a 7.30% increase in volume. If we compare its weekly growth, it has increased by 10.20%. The price value increases with earnings and is about $1.30.
If we compare the market cap of Audio, it is estimated at $805,552,920. By comparison, about $94,849,155 was traded in the token in 24 hours. Its circulating supply remained at 173,301,808,097 HOT.
Final thoughts
The global cryptocurrency market is finally turning a corner as sentiment for various tokens turns bullish. Recent changes have also brought relief to global market values, which are currently around 1.88 tonnes. If the market remains favorable, it could get even better. For now, bitcoin and other currencies are in a stable state and the market is likely to appreciate. The biggest challenge it faces is the level of entry for its global bulk cargo.