Bitcoin, Ethereum, Maker and Helium Daily Price Analysis – October 5th Roundup
The global crypto market has surprised analysts and investors as it took a turn. The recent changes in the market showed a downward trend for Bitcoin and others. There was a chance that the market would lose momentum, but the recent changes have strengthened it further. As the market has maintained momentum, it has added new gains to investors’ capital. The bullish trend looks set to continue, further strengthening as it retests new resistance levels for various coins.
Russia has continued to look for alternatives after the US sanctions following the Ukraine invasion. In a recent update, the OKX website has been blocked in Russia for an unknown reason. The trading website OKX was not available in Russia as updated by Roskomsvoboda, a platform that keeps track of censored websites. There is no clarity on why this website was blocked and when it will be online.
However, the latest changes show that there is a likely chance that Russia is after crypto-related websites. While jumping to conclusions may not be good, Russia has begun to realize the impact of cryptocurrencies while the West has continued to cripple its economy. Although there is no clarity on how Russia will avoid the sanctions, the country has plans to adopt Bitcoin and other cryptocurrencies.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum and others.
BTC resumes gains
McDonald’s is the latest name to add Bitcoin and Tether to payment options. According to the latest updates, the company has announced that they will accept the two coins in Lugana, Switzerland. There are chances that it will expand the acceptance of crypto to other areas.
The latest changes for Bitcoin show the continuation of the bullish trend. The latest data shows a 0.81% addition to this coin in the last 24 hours. The seven-day data shows that Bitcoin has added 5.17%.
The price value of Bitcoin saw an increase, which is currently around $20,386.67. The market value of BTC is estimated to be $390,822,465,184. The 24-hour trading volume for Bitcoin is approximately $34,561,665,101.
ETH is likely to cross $1.4K
Ethereum has seen an increase in regulatory scrutiny in recent months. The most recent changes came from the transition to Proof of Stake. Various regulatory authorities have continued to watch for it, and the question is whether it will give in to the pressure.
The performance of Ethereum has also shown a trend of gains. The latest data shows that it has increased by 1.78% in the last day. The weekly data shows an addition of 3.01% for this coin.
The price value for ETH is currently in the area of $1,378.70 and is likely to rise. The market value of this coin is estimated at $169,288,290,021. The 24-hour trading volume for the same coin is approximately $10,670,718,638.
MKR rises sharply
The value of Maker has also seen a rising tide as a result of the capital influx. The latest data shows that it has increased by 1.29% in 24 hours. The seven-day data shows that it has increased by 14.32%. The price value of MKR rose to the $850.15 area.
The market value of Maker is estimated at $831,922,932. The 24-hour trading volume for this coin is approximately $29,159,547. The same amount in its original currency is approximately SEK 46,018 million.
HNT on the way up
Helium’s performance has shown a rapid influx of capital. The latest data shows that it has increased by 5.74% in the last 24 hours. The seven-day data shows that it has continued to rise, adding 8.08%. These gains have followed an increase in value as the price value reached $5.60.
The market value of Helium is estimated at $715,174,509. The 24-hour trading volume for this coin is approximately $71,739,198. The circulating supply of this coin is approximately 127,664,763 HNT.
Final thoughts
The global crypto market continues to rise despite little changes over the past day. The ongoing changes have led to gains for Bitcoin, Ethereum and others. As the inflow of capital continues, there has been an increase in global market capitalization. The latest data shows that it is estimated at 974.52 billion dollars.
