Bitcoin, Ethereum, Mina and Ravencoin Daily Price Analysis – October 21st Roundup
The global crypto market has seen a positive trend over the past day as capital inflows continued. The recent changes for Bitcoin, Ethereum and others show a dominant trend of gains. As the market has changed direction, it has attracted gains. Investors will see a moment of respite as it is clear that the market may continue to fluctuate. There is a need for lasting stability to keep investors in profit. The persistent fluctuations have emaciated the market, depriving it of a significant amount.
Pro-crypto Rishi Sunak has become the candidate for the seat of PM after Liz Truss left the seat. Rishi Sunak has become the first leader of the UK Prime Minister to appear on the ballot. Sunak has previously served as chancellor under Prime Minister Boris Johnson. Sunak crossed the barrier to receive 100 public nominations, which is a prerequisite for running for PM.
Rishi Sunak has plans to make the UK the world’s crypto hub. Rishi Sunak previously contested this seat after Prime Minister Boris Johnson resigned, but he could not defeat Liz Truss. Still, Truss couldn’t make it for more than 45 days and finally resigned when Finance Minister Sunak had plans for legislation regarding stablecoins, DAOs and NFTs.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum and others.
BTC remains bullish
Although Bitcoin remains a target for environmental activists, its energy consumption is too low. According to newly available data, global energy consumption from Bitcoin mining is only 0.10%. Regulators have continued to crack down on Bitcoin due to its Proof of Work consensus.
The latest changes for Bitcoin show growth in value. The latest data shows that it has increased by 0.44% in the last 24 hours. The weekly data for Bitcoin shows an addition of 0.01%.
As the metrics remain positive, the Bitcoin price value has reached the $19,164.41 area. The market value of BTC is estimated to be $367,602,967,910. The 24-hour trading volume for Bitcoin is approximately $31,763,912,515.
ETH on the way up
Active Ethereum addresses have fallen to a 4-month low as the capitulation event appears to be strengthening. Since the merger, there has been a significant decrease in the number of trades on Ethereum. The new data from Santiment revealed that it has continued to see a decline.
The performance of Ethereum has also seen a decline. The latest data shows that it has increased by 1.00% in the last day. The weekly performance of this coin shows a growth of 0.21%.
The positive change has strengthened ETH’s price value which is currently in the area of $1,300.21. The market value of this coin is estimated at $158,968,324,676. The 24-hour trading volume for this coin is around $10,030,310,370.
MINE in gains
Mina has also seen gains as the market has turned bullish. The latest data shows that it has increased by 1.10% in the last 24 hours. The weekly performance of this coin shows addition of 1.37%. These changes have helped boost the price value of MINA to the $0.5371 area.
The market value of Mina is estimated at $383,912,198. The 24-hour trading volume for this coin is approximately $6,703,339. The same amount in its native currency is approximately 12,487,272 MINA.
RVN recessive
The performance of Ravencoin has shown a negative trend. The latest data shows that it has decreased by 1.21% in the last 24 hours. The weekly data for this coin shows additions of 0.99%. The price value for RVN is currently in the range of $0.03099.
The market cap of Ravencoin is estimated to be $365,834,318. The 24-hour trading volume for this coin is approximately $15,124,752. The circulating supply of this coin is approximately 11,798,388,111 RVN.
Final thoughts
The global crypto market has enjoyed a respite as losses pared. The latest data for Bitcoin, Ethereum and others shows significant growth. As the market has gained momentum, these changes have increased investors’ gains. The global market capitalization has also strengthened due to the bullish market. The latest data shows that it is estimated at 918.54 billion dollars.
