The global crypto market has seen a reversal in the pattern; there is a dominant trend for gains. The increased influx of capital has pushed Bitcoin, Ethereum, and others. As there was a dominant trend of bearishness in the market, the changes had brought gains to a stall. As the bullish trend strengthens, it will help these coins grow in value. Like the previous bullish wave, it would take a strong push to help the market grow.
The CEO of Titanium blockchain has pleaded guilty to securities fraud. The case stretches back to 2018, when he was accused of securities fraud for the untoward handling of the ICO of his platform. Michael Allan Stollery served as the CEO of Titanium Blockchain Infrastructure Services. This week, the case reached its concluding moments when he admitted to one count of securities fraud.
According to available updates, the ICO took place during the 2017 boom in the market. A statement by the US Department of Justice says that he falsified parts of the project’s whitepaper, misleading customers in the US and abroad. He placed false information about the technology and cryptocurrency opportunities, thus, creating a false image of opportunities for investors.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and other altcoins.
BTC gains traction
Bitcoin has again slipped as Fed is about to hike rates. The changes have come to curb the difficulties the US economy faces due to rampant inflation. It slipped to its 1-week low as the investor anxiety grew in anticipation of upcoming changes.
The latest data for Bitcoin shows that it has added 0.33% in a single day. The change in the pattern has helped it turn bullish. The weekly performance of Bitcoin shows a loss of 8.98%.
The increased influx has strengthened Bitcoin’s price value to the $21,166.77 range. If we compare the market cap value for Bitcoin, it is estimated to be $404,899,927,245. The 24-hour trading volume for Bitcoin is estimated to be $27,099,809,503.
ETH resumes gains
There has been a dominant bullish trend in the market as the institutional investors continued inflow to it. They had shown reluctance in investments in Ethereum because of the constant decrease in value. It has seen a ballooning trend as it has taken control of the situation.
The value of Ethereum has seen improvement due to the influx of capital. These changes have helped it bring gains of 0.83% in a single day. In comparison, the weekly performance shows a loss of 6.93%.
The price value for ETH is in the $1,433.63 range. If we look at the market cap value for this coin, it is estimated to be $174,714,695,829. The 24-hour trading volume of this coin is about $17,252,481,103.
DOGE also reverses losses
The value of Dogecoin has also shown signs of improvement. The latest data shows an additional 0.76% in the last 24 hours. In comparison, the performance for the last seven days shows a loss of about 9.39%. The recent influx has improved its price value which is currently about $0.06228.
The market cap value for DOGE is estimated to be $8,274,005,454. The 24-hour trading volume of this coin is about $393,137,753. The same amount in its native currency is about 6,303,825,453 DOGE.
AVAX still bearish
Avalanche hasn’t yet been able to recover from losses. The latest data shows it has shed 0.40% in a single day. In comparison, the seven-day performance shows a loss of 18.34%. The price value for this coin is in the $20.42 range.
If we compare the market cap value for AVAX, it is estimated to be $5,816,337,317. The 24-hour trading volume of this coin is about $402,484,738. The circulating supply of this coin is about 283,971,717 AVAX.
Final Thoughts
The global crypto market has seen a positive change as the influx of capital changed its performance. The latest changes have brought it considerable gains. The value of Bitcoin, Ethereum, and other altcoins has shown enhancement as their gains increased. The global market cap value also saw improvement. It is currently estimated to be $973.83 billion. It would need a strong push to cross $1 trillion.
