The global crypto market has finally seen a respite as it has turned bullish. The recent changes show significant improvement for Bitcoin, Ethereum, and others. As the market continues to see enhancement, investors will be attracted to it. The recent days brought the stark market bearishness, affecting its overall performance. As the trend for gains continues, the market will see increased investments. The global market cap value has also fluctuated due to the recent changes in the market. Investors expect the market to bring them gains in the following hours as it might stay bullish.
Indian crypto traders have moved to Binance, FTX, and other big exchanges. The reason for this change is the transitioning tax structure in India. Binance CEO CZ is serious about securing his exchange’s place in the shifting market to gather as much as possible. Binance currently has the edge over other investors in India because of its being unworried about taxes and difficulty in moving funds in and out.
The downloads for the Binance app have increased in the recent month. Data for August shows that Binance has been downloaded 429,000 times in India. The recent downloads have been the greatest in number, and these are triple that of the following app CoinDCX. Also, Binance is the only top exchange that has seen more downloads compared to July.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC still bearish
Bitcoin mining difficulty reached its all-time high on 14 September. Bitcoin miners have faced an uncertain situation due to increased difficulty, but they have been optimistic about the following changes. The difficulty level has increased by 3.45%, which is an ATH for Bitcoin.
The recent changes for Bitcoin show a significant improvement as it has reduced losses. The latest data shows it has shed 0.61% over the last 24 hours. The gains for the last seven days are about 5.01%.
The price value for BTC is currently in the $20,171.98 range. The market cap value for BTC is estimated to be $386,216,316,624. The 24-hour trading volume of Bitcoin is about $38,055,312,283.
ETH in gains
Ethereum is finally happening on 15 September, and the users are excited about it. While some DeFi protocols have updated the risk details about their value. MakerDAO has confirmed that the merge could cut down USDC value.
The performance of Ethereum has shown a significant change as the much-anticipated merge draws closer. The recent changes for this coin show addition of 2.75% over the last 24 hours. In comparison, the weekly performance shows a gain of 0.26%.
The price value for ETH is currently in the $1,624.19 range. The market cap value for this coin is estimated to be $198,602,489,756. The 24-hour trading volume of this coin is about $18,682,541,137.
Quant has also seen a revival in its value as there has been a considerable reduction in its losses. The latest data for this coin shows that it has shed 1.32% over the last day. The seven-day data for this coin shows a gain of 2.67%. The price value for QNT is currently in the $98.60 range.
The market cap value for Quant is estimated to be $1,190,423,685. The 24-hour trading volume of this coin is about $24,402,622. The same amount in its native currency is about 247,480 QNT.
Chiliz has also seen a recessive trend despite the market improvement. The latest data for this coin shows that it has receded 3.76% over the last 24 hours. In comparison, the weekly data shows a loss of 1.37%. The price value for CHZ is currently in the $0.1887 range.
The market cap value for Chiliz is estimated to be $1,133,572,667. The 24-hour trading volume of this coin is about $258,438,900. The circulating supply of this coin is about 6,000,386,953 CHZ.