Bitcoin, Ethereum, Helium and Maker Daily Price Analysis – July 27 Roundup
The performance of the global crypto market has witnessed a rapid change in recent hours. A bullish influx has been seen in the market, which boosted Bitcoin, Ethereum and others. The rapid gains for these coins have helped offset the losses of the past few days in one fell swoop. As the bullish trend continues, it remains to be seen how far it will take the market.
Q2 of 2022 did not turn out to be good for the market as various companies continued to lose value. According to Meta officials, the metaverse division lost $2.8 billion in Q2 2022. Reality Labs, the metaverse division of Meta, has been missing revenue and earnings as the market showed a downward trend.
According to Nasdaq data, its shares fell 5% on Wednesday. The company’s reports showed that it earned $452 million in the second quarter. While earnings for the first quarter were 695 million dollars. The aforementioned division had previously claimed a loss of $2.9 billion in the first quarter. The overall performance shows that the company has not met expectations in terms of turnover.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum and other altcoins.
BTC is approaching $23K
Despite the ongoing market fluctuations, El Salvador has proven to be a staunch supporter of Bitcoin. It has plans to buy back Bitcoin bonds as the president did not make good bets. Now they want to buy back the bonds to prove that the country’s economy is in good health.
The latest data for Bitcoin shows that it has added 7.35% in the last 24 hours. Seven-day performance has also improved. The result has been a reduction of losses to 2.44%. It will improve further if gains continue.
The price value for Bitcoin is in the area of $22,772.22. If we compare the market cap for Bitcoin, it is estimated at $435,067,671,572. The 24-hour trading volume for Bitcoin is approximately $32,129,208,803.
ETH back in bullish mood
Ethereum has seen an increase in inflows after facing a long period of bearishness. It has retested the $1.5K region as the shadow fork has been deployed ahead of the merge. In the last couple of weeks, there has been an increasing trend of transactions taking place through Ethereum.
The value of Ethereum has continued to improve after the market resumed gains. The latest data shows that it has increased by 12.02% in the last 24 hours. The weekly performance shows an addition of 4.76%.
The price value for ETH has improved to the $1,612.59 area. If we compare the market value of this coin, it is estimated at $196,292,628,772. Its 24-hour trading volume of it is approximately $22,747,804,458.
HNT uses a bullish market
Helium has also taken advantage of the bullish market. The latest data shows that it has increased by 4.75% in the last 24 hours. The weekly performance has also improved as losses reached 4.76%. The price value for this coin is in the range of $9.03.
If we take a look at the market cap for HNT, it is estimated at $1,107,611,862. The 24-hour trading volume for this coin is about $10,981,866. The same amount in its native currency is about 1,218,000 HNT.
MKR seizes the opportunity
Maker has also seized the opportunity to make up for his losses. The latest data shows that it has increased by 9.40% in 24 hours. The weekly performance shows an addition of 1.36%. The positive trend has brought the price value to the $997.12 range.
If we look at the market cap for MKR, it is estimated at $974,815,461. The 24-hour trading volume for this coin is around $131,525,085. The circulating supply of this coin remained at SEK 977,631.
Final thoughts
The global crypto market has seen an improvement in capital inflows in recent hours. These changes have helped it to compensate for previous losses. The said change has brought strength to Bitcoin, Ethereum and other coins in the market. As consolidation continues, global market capitalization has also improved. It is currently estimated at $1.05 trillion.
