The global crypto market has continued to grow in value as gains continue. The value of Bitcoin has seen a considerable increase as it is eyeing $24K, seeing increased price value. While other coins like Binance and the following coins have also been bullish. The increasing trend for gains has brought the market much needed push. It is yet to be seen how long will this bullish wave continue.
The US has continued to work on strengthening crypto regulations to ensure that its citizens are secured to the maximum possible level. According to the latest updates, a bill giving CFTC crypto powers might be placed to vote this year. The bill has come as the result of a recent crash that alarmed US senators.
The mentioned bill will also bring the legal uncertainty regarding Bitcoin to decide whether it is a commodity or a security. Senator Kirsten Gillibrand talked to the Bloomberg crypto summit, saying he is co-sponsoring a bill to grant authority to CFTC over the crypto industry. Currently, the Securities and Exchange Commission is carrying these responsibilities.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and other altcoins.
BTC aiming at $24K
The recent few weeks brought the market much-needed stability. The stability in the market also brought benefits to Bitcoin miners. According to crypto analytics firm CryptoQuant, Bitcoin miners have transferred more than 14,000 over the past few weeks. The mentioned amount has been a record-high since 2021.
The latest data shows that Bitcoin has continued to grow in value. The 24-hour data for Bitcoin shows an increase of 7.71% in value. In comparison, the weekly data shows an addition of 19.59%.
As the influx has continued, the price value of Bitcoin has reached the $23,713.53 range. The market cap value for Bitcoin is also enhanced as it is currently estimated to be $451,772,850,448. The 24-hour trading volume of Bitcoin is about $49,682,859,228.
BNB soars higher
Binance has continued to enhance its value despite the various odds it has faced. It has recently announced an incentive for Dogecoin users. It will offer different rewards for Dogecoin users who use this platform. Binance has recently faced backlash from the Dutch central bank because of its operation in the Netherlands without a license.
Binance Coin has also seen a favorable influx of capital over the last few days. The 24-hour data shows that it has added 2.89%. In comparison, the seven-day data shows an addition of 18.63%.
The price value for BNB is on the rise as it has reached the $268.63 range. If we look at the market cap value for this coin, it is estimated to be $43,272,650,690. The 24-hour trading volume of the same coin is about $1,862,650,979.
LINK favored by investors
The value of Chainlink has also shown considerable improvement after the lasting bearishness. The latest data shows that it has added 4.90% over the last day. While the gains for the last seven days are about 20.17%. The increase in gains has taken its price value to the $7.33 range.
If we look at the market cap value for LINK, it is estimated to be $3,417,077,677. The 24-hour trading volume of the same coin is about $989,730,893. The same amount in its native currency is about $135,291,999 LINK.
NEAR turns bearish
Near Protocol has seen a bearish pull amid the bullish market. The data for the last 24 hours shows that it has shed 0.26%. The seven-day data shows gains of 34.93%. The price value for this coin is about $4.42.
If we look at the market cap value for Near Protocol, it is estimated to be $3,276,489,224. The 24-hour trading volume of the same coin is about $512,587,869. The circulating supply of this coin remained 741,253,161 NEAR.
The global crypto market has seen a considerable increase in value. The influx of capital has taken it past the previous threshold level. The value of Bitcoin, Binance Coin, and other leading names is rising and might improve further. The global market cap value is also increasing as it is currently about $1.07T.