The global crypto market has witnessed a positive change after a lasting bearish period. The change came from an enhanced influx of capital to the market. The value of Bitcoin has shown enhancement while the performance of Ethereum has continued to show lag. As the mixed situation persists for some coins, the market might take some time to be dominantly bullish. The value of the market will enhance if it is able to attain a state of lasting bullishness.
The University of Sharjah has partnered with BSV Blockchain to create a blockchain-based metaverse. A deal has been struck between the University of Sharjah and the BSV Blockchain Association to preserve UAE’s culture and heritage. The preservation will take place in the form of NFTs. The two entities have launched a joint research and development program to move the UAE’s cultural identity to the metaverse.
The collaboration between Swiss-based blockchain company and Gulf nations will also open ways for other countries. The University of Sharjah will claim ownership of digital assets and list them in the marketplace. The relationship will also provide use cases for digital assets like NFTs and the metaverse. A university representative said it would be monumental to the history of Arabic and Islamic legacies in the Middle East.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC turns bullish
Bitcoin’s open interest and funding rates have shown hope to investors. The bullish sentiment has brought enhancements after a lasting period of fluctuations. The investors faced a hard time due to numerous dips and recoveries, but there are hopes regarding its bullishness in the upcoming days.
The recent changes for Bitcoin show encouraging stats. The latest data shows that it has added 1.27% over the last 24 hours. In comparison, the weekly data shows that Bitcoin has shed 5.98%.
The price value for Bitcoin is currently in the $20,008.55 range. The market cap value for Bitcoin is estimated to be $383,466,967,036. The 24-hour trading volume of BTC is about $30,535,451,225.
ETH still bearish
The milestone merge event of Ethereum didn’t lessen its problems. The price of Ethereum has continued to lower despite the users’ expectations. Analysts have suggested that Ethereum might risk a 55% drop against Bitcoin. If this happens, the market for Ethereum will suffer considerably.
The performance of Ethereum has continued to show a lagging trend. The recent changes for this coin shows a loss of 2.04% over the last 24 hours. In comparison, the losses for the last seven days are about 16.22%.
The price value for ETH is currently in the $1,443.67 range. The market cap value for this coin is estimated to be $44,764,834,349. The 24-hour trading volume of this coin is about $786,050,406.
NEO continues recessive
The performance of Neo has also shown a declining trend, like Ethereum. The recent changes suggest that it has shed 1.03% over the last 24 hours. In comparison, the weekly data shows a loss of 12.13%. The price value for NEO is currently in the $9.08 range.
The market cap value for Neo is estimated to be $640,513,674. The 24-hour trading volume of this coin is about $48,151,244. The same amount in its native currency is about 5,302,826 NEO.
FTM in gains
The performance of Fantom has shown a positive trend as it added considerable gains. The latest data shows it added 2.17% over the last 24 hours. The weekly data shows that there has been a loss of 12.13% for this coin. The price value for FTM is currently in the $0.2481 range.
The market cap value for Fantom is estimated to be $631,411,487. The 24-hour trading volume of this coin is about $96,385,240. The circulating supply of this coin is about 2,545,006,273 FTM.
Final Thoughts
The global crypto market has seen a positive change in value over the last 24 hours. The performance of Bitcoin saw considerable improvement, while Ethereum is still lagging in lows. The ongoing changes show that the market might overcome the hurdles. The global market cap value has also shown improvement. The latest data shows that it is estimated to be $968.04 billion.
