The global crypto market has been able to regain momentum as it resumed gains. The previous hours had brought losses to the market, but it soon resumed its forward march. The performance of Bitcoin, Binance Coin, and others shows that the gains will likely increase soon. As the market has improved in value, it is likely to attract a further influx of capital. If the positive trend continues, the market can reclaim its lost value.
Brazil’s Lula De Silva has won the election, which might prove a good omen for the crypto market. Lula was able to beat his opponent, Bolsonaro, as he secured 50.90% in comparison to 49.10% secured by Bolsonaro. He earned more than 60 million votes, setting a new record in Brazil. Lula has presented various reforms, one of which is the proposal of a regulatory framework for crypto in Brazil.
According to the proposal, the Central Bank of Brazil will be in charge of this regulatory program. The program will look into the negative impacts of crypto and whether it can affect the Brazilian economy. The newly elected president sees crypto as a new field with potential. He has plans to ensure a regulatory framework that reduces fraud and other unlawful activities. Lula is also of the belief that keeping an eye on Bitcoin can prevent detrimental impacts on the economy.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin, and others.
BTC regains momentum
Author Robert Kiyosaki has said in a statement that Bitcoin can protect consumers from existing Fed hike paranoia. The leading cryptocurrency is once again part of the discussion that it can prove to be a safe asset for users.
The recent changes for Bitcoin show a significant addition to its value. The latest data shows it added 0.09% over the last 24 hours. The weekly data shows that Bitcoin has gained 7.17%.
The value growth has resulted in a hike in BTC price value which is currently in the $20,746.01 range. The market cap value for Bitcoin is estimated to be $297,542,783,028. The 24-hour trading volume of Bitcoin is about $34,862,713,551.
BNB crosses $330
Binance has established the seventh firm in Ireland, according to news from media outlets. The world’s largest media outlet on Monday expanded further in Europe. The result of the expansion was the establishment of a subsidiary company to facilitate the residents of Ireland.
The performance of Binance Coin has also shown a positive trend. The latest data shows that it has added 7.37% over the last 24 hours. The weekly data shows that it has added 21.87%.
The price value of BNB is currently in the $332.76 range. The market cap value for this coin is estimated to be $53,384,261,396. The 24-hour trading volume of the same coin is about $1,916,035,702.
AVAX on rise
Avalanche’s value has also risen due to the bullish trend. The recent data shows that it has added 6.45% over the last 24 hours. The weekly data shows that it has added 22.99%. The price value for AVAX is currently in the $19.60 range.
The market cap value for Avalanche is estimated to be $5,852,391,662. The 24-hour trading volume of this coin is about $436,913,599. The same amount in its native currency is about 22,285,453 AVAX.
UNI still fluctuating
The recent changes for Uniswap show that it has continued to fluctuate. The latest data shows that it has added 0.89% over the last day. The weekly performance shows an addition of 15.12%. The price value for UNI is currently in the $7.10 range.
The market cap value for Uniswap is estimated to be $5,386,489,489. The 24-hour trading volume of this coin is about $158,766,163. The circulating supply of this coin is about 762,209,327 UNI.
Final Thoughts
The global crypto market has seen a rise in value due to enhanced performance. The recent changes brought Bitcoin, Binance Coin, and others considerable gains. As the market is on its way to improvement, there is a considerable increase in investor gains. The global market cap value has also risen in response to bullishness. The latest data shows that it is estimated to be $1.03 trillion.
