The global crypto market has changed its direction as various coins have turned bullish. The value of Bitcoin saw improvement as it reduced losses. While in comparison, Binance Coin and others have seen considerable gains. The ongoing situation shows that the market has experienced a push from the investors. As the market turns bullish, the investors will see an increase in gains. The only thing the market needs is a continuation of the same pace.
Some analysts have raised questions over the vulnerability of Ethereum to censorship after the merge. The recent changes in the market, like sanctions against Tornado Cash, suggest that there is more to come. The Ethereum community has also initiated a discussion regarding resistance to the ongoing changes. They have debated the possibility of large validators being forced to censor transactions after merge.
Ethereum founder Vitalik Buterin believes that transaction censorship would be an attack against the network. Some Ethereum projects have begun blacklisting specific addresses after the recent sanctions. Though merge will reduce the energy consumption for Ethereum by over 90%, it will pose threats to the freedom of users. The main claim which has led to sanctions is the allegation of money laundering using specific addresses.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and others.
BTC showing optimism
Bitcoin price has fallen more than 13% in the last seven days, and it poses questions about its future. All types of elements challenged the price value of Bitcoin, but it has resisted. The ongoing changes show that Bitcoin has the potential for a comeback.
The latest data for Bitcoin shows that it has added value. The 24-hour data for Bitcoin shows a reduction of losses to 0.89%. The change in the market has resulted in the weekly losses of Bitcoin to 13.01%.
The price value for Bitcoin is in the $21,294.90 range. The market cap value for Bitcoin is estimated to be $407,414,389,973. The 24-hour trading volume of Bitcoin is about $30,876,972,769.
BNB turns bullish
Binance has continued to secure permits and licenses across the globe. The latest on the list is the Money Transmitter license from the Nevada Department of Business. Recently, it has secured permits and licenses on a global level. The bearish market pushed other big exchanges backward, creating opportunities for Binance.
The value of the Binance Coin has seen a considerable increase. The latest data shows an addition of 0.94% over the last day. The weekly data shows a loss of 12.77%. The price value for the same coin is in the $287.09 range.
The market cap value for BNB is estimated to be $46,311,795,827. The 24-hour trading volume of this volume of the same coin is about $1,409,960,725.
STX still in losses
The value of Stacks has also seen improvement, but it couldn’t turn bullish. The latest data shows a loss of 2.08% over the last day. The weekly data shows a loss of 22.38%. The price value for STX is in the $0.3959 range.
The market cap value for Stacks is estimated to be $526,857,745. The 24-hour trading volume of the same coin is about $101,131,577. The same amount in its native currency is about 25,574,612 STX.
LRC gains momentum
Loopring has also been in gains due to a bullish market. The latest data shows this coin’s gain of 0.47% over the last day. The weekly data shows a loss of 20.63%. The price value for LRC has improved to the $0.3798 range due to gains.
The market cap value for LRC is estimated to be $505,879,319. The 24-hour trading volume of this coin is about $49,975,101. The circulating supply of this coin is about 1,330,119,710 LRC.
The global crypto market has seen a change in pattern. The latest data shows the trend of gains for Bitcoin, Binance Coin, and others. As the market has seen changes, the value of various tokens has enhanced. The global market cap value has also seen a positive change recently. The latest data shows that it is currently estimated to be $1.02 trillion.