TL;DR Breakdown
- The global crypto market is improving, adding 0.87% in the last 24 hours.
- Bitcoin has gained 0.90% in the last twenty-four hours, nearing $51K.
- Binance Coin also sees a growth estimated at 0.83%.
- Avalanche and Polygon MATIC add 0.33% and 6.44%, respectively.
The market is improving for almost all minor and major coins. As expected, the market remained stable during the Christmas weekend and might continue ahead. The significant improvement seen during the recent days was in the case of bitcoin, which improved significantly after going through an extended period of fluctuations. The bitcoin price has improved, and it is nearing $51K, which might reach soon.
The market has remained steady, and it impacted the investments, which have improved since the last recession. As evident from the global market cap, which is estimated to be $2.39T, the market has restored investor trust. The feat lies ahead of 2022, which needs agility cost-efficiency from blockchain systems, which will define their token success. So, it will prove a bit tougher for different coins because of the evolving market.
The recent rise in the value of the market has helped with an increase in profits for investors, which means that more investments will pour in. If the pace of new capital investments continues, the market might see significant growth.
BTC flexing for $51K
Bitcoin has been a leading gainer since the dips that it experienced last time. The fluctuations impacted it badly and took it from a journey to $60K to a coin looking for its survival. The change in the situation was not unique for this coin as it was not the only one affected. Other currencies too struggled like bitcoin, but it impacted the global market because of its bulk.
The recent few days have proved exceptionally fortunate for bitcoin, and the seven-day growth for it has been estimated to be 8.61%. If we look at 24-hour performance, it has improved 0.90%. As per the latest updates, the current bitcoin price is $50,794.14, while its market cap is estimated to be $959,998,770,034.
The improvement in increased capital investment has helped growth in bitcoin’s trading volume, which is estimated to be $21,006,094,609. The same amount can be converted to 413,820 BTC. If the market remains favorable, bitcoin is expected to continue its momentum.
BNB ready to cross the $550 milestone
Binance Coin has also been amongst gainers during the latest investor rally. However, a recent update says that it has to pay the amount of fines of 8M Lira because of some infringements. The amount mentioned is the fine that the Turkish government slapped on Binance. The said coin went smoothly through the Christmas period when this sudden shock came. The Turkish government is also expected to bring a crypto law that will make the situation tighter for cryptocurrencies.
As per the latest updates, the Binance coin has gained 3.76% in the previous seven days, while the twenty-four hours gain amounts to 0.83%. The current price for the same coin is about $547.61 and might cross $550 if its progress continues. The current market cap for the mentioned coin is about $91,167,872,747, while the trading volume for the last 24 hours is $1,585,089,413.
AVAX is working hard on improving its place
Avalanche has bagged significant gains during the recessive period, and it continues to do so. If we look at its past seven-day performance, it has gained 6.70%, while the 24-hour gains amount to 0.33%. The current price for Avalanche is estimated to be $114.59. The pace with which it is improving its price shows the value this coin might have shortly.
Avalanche currently ranks 11th on the list and aims to give Polkadot the tough time that it is now following. The current market cap for Avalanche is about $27,842,235,098. For the last 24 hours, the trading volume also shows improvement, which is approximately $953,797,856. The amount for trading volume can be converted to 8,332,651 AVAX.
MATIC moving faster
Polygon is currently ranking 14th on the list, and the graph shows that it has skyrocketed during the last few days. Polygon’s number of gains in the previous seven days was about 32.00%, much more than other competitor coins. The improvements for the last 24 hours amount to 6.44%, which shows its potential to grow.
Polygon has attracted investors mainly for the reason of its resistance. The mentioned coin went through hard times during the recent recession but remained stable. For this reason, it has continued to attract investors. The current market cap for Polygon is estimated to be $20,465,493,609. The trading volume for the same coin during the last 24 hours was $3,186,928,374.
The performance of Polygon has been exceptional if compared to other coins, and it has attracted more capital investment during the Christmas weekend.
Final Thoughts
The growth in the global crypto market is evidence of improving investor trust. The Christmas period made the situation favorable because of the increase in investments. Though there have been troubles on the side of Binance, which faced fines from the Turkish government, the overall market situation is fine. As the market is about to enter 2022, it might prove more challenging because of its needs improvements. The upcoming year might prove nerve-testing for bitcoin because of the investor expectations and demand for growth.
The investor can expect the best if the market continues to stay bullish. If no significant change in the market takes place, the investor will benefit from the ongoing situation in the market.
