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Bitcoin, Ethereum, Algorand, & VeChain Daily Crypto Price Analysis
The data for the recent hours shows that there has been improvement in the performance of Bitcoin, Ethereum, and others. As the market has shown the hope of regaining momentum, there has been an increase in the influx of capital.
Himanshu S.
11:02 7th Dec, 2022
Markets

The global crypto market has witnessed a positive change as it brought a considerable change to losses. As the market continues to improve, there is a likely chance that it will rise in value.

OG audio app Winamp has added Ethereum and Polygon music NFT support. The mp3 player from 90s is making its return with a push into the blockchain music scene. According to the available information, the classic windows media player has integrated music NFTs into its platform. The new feature will allow users to play audio files embedded in their non-fungible tokens, calling it Web3 desktop update. The official Twitter handle of Winamp made this announcement on a few hours back.

Launched in 1997, Winamp’s latest version lets music fans connect their metamask wallet to it. The mentioned wallet can be connected to this app via Brave, Chrome, or Firefox Browser. Winamp supports ERC-721 and ERC-1155 audio and video files. Furthermore, it is compatible with Ethereum and Polygon. NFTs prove the digital ownership and provide a tamperproof record of transactions involving a digital asset.

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

BTC stuck at $17K

Marathon Digital Bitcoin output dropped in November as King Mountain operations curtailed. The company said in a statement on Tuesday that its produced 472 Bitcoin in November. The amount produced is 23% lower compared to those created in October.

BTCUSD 2022 12 07 07 16 07
Source: TradingView

The recent changes for Bitcoin show a considerable improvement in value. The latest data shows that it has shed 0.04% over the last day. The seven-day data shows that it has added 0.78%.

The price value of BTC is currently in the $17,057.84 range. The market cap value of Bitcoin is estimated to be $327,960,261,508. The 24-hour trading volume of Bitcoin is about $19,843,577,445.

ETH regaining strength

Ethereum balance on exchanges has reached new lows due to turbulent market. according to available updates, its balance has reached a 4-year low due to lowered trust. The constant chaos in the market has led to the amount of ETH in centralized exchanges lowering continuously.

ETHUSDT 2022 12 07 07 16 31
Source: TradingView

The performance of Ethereum has also shown optimistic results. The latest data shows that it has added 0.06% over the last 24 hours. The seven-day performance shows that it has shed 0.57%.

The price value of ETH is currently in the $1,267.32 range. The market cap value of this coin is estimated to be $155,086,652,143. The 24-hour trading volume of the same coin is about $5,144,922,568.

ALGO still in losses

Algorand has been in losses despite the improving market. the latest data shows that it has shed 1.41% over the last day. The weekly performance shows that it has shed 4.99%. The price value of ALGO is currently in the $0.2338 range.

ALGOUSDT 2022 12 07 07 16 53
Source: TradingView

The market cap value of Algorand is estimated to be $1,666,188,864. The 24-hour trading volume of this coin is about $43,740,629. The same amount in its native currency is about 187,029,131 ALGO.

VET bearish

The performance of VeChain has also shown a trend of bearishness. The latest data shows that it has shed 0.58% over the last 24 hours. The seven-day data shows that it has added 1.21%. The price value of VET is currently in the $0.01925 range.

VETUSDT 2022 12 07 07 18 11
Source: TradingView

The market cap value of VeChain is estimated to be $1,395,652,386. The 24-hour trading volume of this coin is about $24,298,723. The circulating supply of the same coin is about 72,511,146,418 VET.

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