Bitcoin, Ethereum, Chainlink and Stellar Daily Price Analysis – November 1st Roundup
The global crypto market has seen a negative trend due to a bearish market. There has been a continuation of losses for Bitcoin, Ethereum and others. But it is a small change and it suggests that the market will turn bullish soon. In contrast to the start of the day, losses have reached new lows. If the situation improves further, there is a likely chance for the market to turn bullish. A turn in momentum will strengthen the investors’ position.
VISA has launched a special NFT auction ahead of the FIFA World Cup in Qatar. The giant financial and payment services company is currently the official payment partner of FIFA. VISA has announced the launch of Masters of Movement NFTs. According to the company, the NFTs are inspired by unique goals from five football legends. These include Jared Borgetti, Tim Cahill, Carli Lloyd, Michael Owen and Maxi Rodriguez.
The movements of these football stars were transferred to NFT by the award-winning SK Studio. Further details reveal that the bidding for NFTs has been opened on Crypto.com which serves as the official exchange partner for the 2022 FIFA World Cup. VISA collectors said that the collectors who throw in the winning bid will receive the NFTs will receive them in their wallet while they will also get a high quality print file.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum and others.
BTC continues recessive
Bitcoin’s hash rate has reached an all-time high as the price value remains above $20,000. According to available updates, the Bitcoin hash rate has reached 331EH/s. The data from Glassnode shows that it is the highest hash rate ever. The increase in the hash rate will have consequences for miners, as they have seen recently.
The latest changes for Bitcoin show a continuation of bearishness. The latest data shows that it has decreased by 0.07% in the last 24 hours. The weekly data shows that Bitcoin has added 1.35%.
The price value of BTC is currently in the area of $20,487.34. The market value of Bitcoin is estimated at $393,170,858,989. The 24-hour trading volume for this coin is approximately $39,566,563,452.
ETH still in loss
The price increase has put the majority of Ethereum investors in profit. Investors had a roller-coaster year in 2022 as it brought tough times. Some aspects of it brought success, while others proved floundering.
The value of Ethereum has seen fluctuations due to the bearish trend. The latest data shows that it has decreased by 0.01% in the last 24 hours. The weekly data shows that it has increased by 6.49%.
The price value of ETH is currently in the area of $1,581.51. The market value of this coin is estimated to be $193,592,433,107. The 24-hour trading volume for the same coin is approximately $1,219,170,422.
LINK is facing difficult times
Chainlink has also had problems due to the bearish move. The latest data shows that it has gone down 1.22% in the last day. The weekly data shows that it has increased by 8.92%. The fluctuations in capital inflows have resulted in bringing LINK’s price value to the $7.75 range.
The market cap of Chainlink is estimated at $3,812,554,430. The 24 hour trading volume for this coin is approximately $351,339,303. The same amount in its original currency is approximately 45,302,538 LINK.
XLM continues to decline
Stellar has also faced a downward trend as capital inflows have decreased. The latest data shows that it has gone down 1.42% in the last 24 hours. The weekly data shows that it has decreased by 2.26%. The price value of XLM is currently in the $0.1098 range.
The market cap of Stellar is estimated to be $2,813,102,953. The 24 hour trading volume for this coin is approximately $78,032,525. The circulating supply of the same coin is approximately 25,622,450,796 XLM.
Final thoughts
The global crypto market has witnessed a decline in value due to persistent bearishness. The latest data for Bitcoin, Ethereum and others shows fluctuations. As the market has seen a drop in value, investors have also been affected. The global market cap has also seen a change due to a negative trend. The latest data shows that it is estimated at 1.01 trillion dollars.
