Bitcoin, Ethereum, Chainlink and Monero Daily Price Analysis – August 24 Roundup
The global crypto market has gained traction as a result of increased capital inflows. The latest data shows the gain of a significant amount as Bitcoin and others have grown in value. The recent changes helped them gain a solid footing shortly after facing blows from bearish changes. The improved situation will also bring gains to the investors who have been facing losses for some time. A sustained and strong bullish wave is needed to strengthen the market.
Tron has been named one of the most energy-efficient blockchains in Web 3. The aforementioned blockchain has left behind many big names, including Ethereum, which has struggled for a while to go from Proof of Work to Proof of Stake. There are hundreds of blockchains in the Web3 arena, but Tron remained on top. According to a new research paper from the Crypto Carbon Ratings Institute, Tron is more environmentally friendly than its competitors.
The well-known chains, including Ethereum, Solana, Bitcoin, Avalanche, Cardano, etc., are far behind. Tron is aiming for a carbon-zero future to ensure it has the least possible environmental hazard. The report shows that Tron energy consumption is equivalent to 15 average US households, while for Bitcoin it is around 8.5 million US households.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum and others.
BTC is growing a bit
The government of Ukraine has blocked wallets that were used to support the Russian war effort in the country. According to available updates, the government of Ukraine has confirmed that these wallets were associated with the Russian war effort and financed their military campaign.
The latest data for Bitcoin shows that it has gained traction. The latest data shows that it has increased by 1.80% in the last 24 hours. The weekly data shows a loss of 7.86% for Bitcoin.
The price value for Bitcoin is currently in the area of $21,605.26. The market value of BTC is estimated to be $413,521,359,645. The 24-hour trading volume for this coin is approximately $32,122,047,058.
ETH gains momentum
Ethereum has continued to be the most attractive investment for investors. According to available updates, Ethereum has been an attraction for more than two weeks. The mentioned token attracted most of the investments in the market. The main reason is the expected merger which is likely to happen in mid-September.
Ethereum has also been in gains due to a favorable market. The latest data shows an addition of 3.80% in the last 24 hours. The seven-day data shows a loss of 9.17%.
The price value for ETH is in the area of $1,679.79. The market cap of this coin is currently around $205,231,596,128. The 24-hour trading volume for the same coin is approximately $16,475,679,281.
LINK is gaining traction
Chainlink has also been in a favorable situation due to a bullish market. The latest data shows that it has increased by 2.04% in the last 24 hours. The weekly data shows a loss of 10.27%. The latest value changes have taken the price value to the $7.27 range.
The market cap of LINK is estimated at $3,423,466,591. The 24 hour trading volume for this coin is approximately $314,789,967. The same amount in its original currency is approximately 43,271,933 LINK.
XMR adds further
Monero has also seen a positive change in value due to a bullish market. The latest data shows an increase of 1.07% in the last 24 hours. The seven-day results show a loss of 9.71%. These changes have brought the XMR price value to the $152.88 area.
The market cap of Monero is estimated at $2,777,896,923. The 24-hour trading volume for this coin is around $94,800,170. The circulating supply of this coin is approximately 18,165,358 XMR.
Final thoughts
The global crypto market has seen a positive change in value in recent hours. The latest data shows that the influx of capital has strengthened Bitcoin, Ethereum and others. As the market turned bullish, it has given investors significant gains. The global market value also saw an increase in value. The latest data shows that it is currently estimated at $1.04 trillion. The market will need a push for improvement in the coming hours.
