The global crypto market saw a positive turn as the events turned favorable. The recent changes in the market show that Bitcoin and Ethereum have improved significantly. Also, the value of other coins has seen positive development. As these changes continue, the market is likely to enhance in value. There has been a continuation of a negative trend in the market for a while. The investors will likely benefit from the bullish situation if the positive trend continues.
US Treasury has asked the public to comment on curbing crypto-related crimes. The said body requested feedback to provide perspective on its approach to drafting a crypto regulatory bill as directed by the executive order. They have asked the public about the illicit transactions taking place through crypto and how the regulator can work on curtailing these risks.
President Biden issued an executive order in March 2022, asking all relevant federal agencies to draft cryptocurrency regulations. The key issues to be addressed in these regulations include consumer protection, mitigating illicit finance, and promoting US leadership in the global financial system. The Treasury said that it has worked with various government agencies to reduce the illicit activities taking place through crypto.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC at $19K
On-chain analyst Willy Woo has claimed that Bitcoin is being suppressed by political agenda. The value of Bitcoin has seen a considerable decline since March 2022. Despite several attempts to regain value, there has been little positive change.
The recent changes for Bitcoin suggest slight positive changes. The latest data shows it has shed 0.01% over the last 24 hours. In comparison, the data for the last seven days shows that Bitcoin has shed 12.46%.
The price value for Bitcoin is currently in the $19,464.03 range. The market cap value for BTC is estimated to be $372,489,312,470. The 24-hour trading volume of this coin is about $40,514,247,393.
ETH regains momentum
Ethereum merge has taken place successfully, but there has been no significant change in the market as users expected. Vitalik Buterin has some ideas about what Ethereum Layer-3 will look like. He believes that staking rollups will not effectively scale Ethereum, and that’s why have come up with other ideas.
The performance of Ethereum has also shown encouraging results. The latest data shows it has added 1.61% over the last 24 hours. In comparison, the losses for the last seven days are about 19.48%.
The price value for ETH is currently in the $1,364.57 range. The market cap value for this coin is estimated to be $166,952,031,602. The 24-hour trading volume of this coin is about $18,457,189,988.
The performance of Nexo shows that it has also rebounded after the recent losses. The latest data shows it has added 1.68% over the last 24 hours. The weekly data for this coin shows that it has receded by 6.42%. The price value for NEXO is currently in the $0.8964 range.
The market cap value for Nexo is estimated to be $501,965,862. The 24-hour trading volume of this coin is about $8,713,819. The same amount in its native currency is about 9,721,257 NEXO.
DASH trying to stay bullish
The value of Dash has also improved due to the increased gains. The latest data shows that it has added 0.59% over the last 24 hours. In comparison, the losses for the last week are about 11.35%. The price value for DASH is currently in the $40.77 range.
The market cap value for Dash is estimated to be $445,169,620. The 24-hour trading volume of this coin is about $79,787,844. The circulating supply of this coin is about 10,918,429 DASH.
The global crypto market has seen a positive change due to the influx of capital. The said changes have strengthened the value of Bitcoin, Binance Coin, and others. The result of these changes is hope seen amongst investors. The global market cap value has also been enhanced. The latest data shows that it is estimated to be $938.48 billion.