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Bitcoin, Ethereum, Elrond, & Decentraland MANA Daily Crypto Price Analyses
The global crypto market has remained stable due to gains. Bitcoin has also continued to gather stability as the influx of capital continues. Ethereum is also bullish as new capital has helped it stay afloat. The performance of Elrond Network and Decentraland MANA has also remained encouraging.
Himanshu S.
10:37 6th May, 2022

The global crypto market remains in gain as the situation remains favorable for most coins. The mentioned change has brought stability to affected coins like Bitcoin and others, thus helping them improve in value. Other tokens that haven’t had an increase in value are in a stable phase, thus helping the investors keep their capital. The feeling of security in their capital is that investors have continued to trade with the same zeal.

Dubai is taking the leading position in establishing facilities related to crypto. It has eased establishing headquarters for crypto companies and other metaverse ventures. The amendments in laws regarding crypto have proved a model for various states. The latest news is the news of the Dubai crypto assets regulator establishing headquarters in the metaverse. Thus, the investors will be able to stay in touch with the regulator using the most sophisticated technologies. On the other hand, Elon Musk has been actively working on promoting crypto. He has advised crypto investors to continue pouring their money as it will help them in the longer run.

Here is a brief overview of the current market situation using the performance of Bitcoin, Ethereum, and some altcoins.

BTC staying at $39.5K

Bitcoin is nearing close to $40K but hasn’t been able to topple this barrier. The change is the most anticipated as it has proved the turning point for Bitcoin rise. The previous data for Bitcoin shows that this threshold level has had a crucial impact on its growth. If Bitcoin can cross this level soon, it might reach new highs in no time.

BTCUSD 2022 05 05 16 26 04
Source: TradingView

The data for the last 24 hours shows that Bitcoin has added 1.63%. If we compare its performance for the last seven days, the losses have been reduced to 0.44%. The weakening bears for Bitcoin mean strengthening price value.

If we look at the price value for Bitcoin, it is in the $39,542.62 range. In comparison, the market cap value is estimated to be $752,545,216,053. If we compare the trading amount, its 24-hour trading volume remained at $34,298,904,204.

ETH still unsure about high rise

Ethereum has continued to gain value, but the gains haven’t been strong enough to help it cross $3K. Some experts predict that Ethereum might be lingering low these days, but it will take new heights soon. The predictions indicate that it might go as high as $5K, which might be a new achievement.

ETHUSDT 2022 05 05 16 26 36
Source: TradingView

The latest data for Ethereum shows that it has added 2.43% over the last 24 hours. If we compare the performance of the last seven days, its losses have been reduced to 0.20%. Thus, the increase has helped it hike the price value, which is improving further.

If we take a peek at the price value for this coin, it is in the $2,928.04 range. If we look at its market cap value, it is estimated to be $353,389,417,615. In comparison, its 24-hour trading volume of it remained at $17,187,616,624.

EGLD continues to soar

Elrond is also on the way to improving as it has gained a significant value with the new gains. The data for the last 24 hours shows that it has added 8.57%. In comparison, its past week went bearish, thus shedding 7.85%. As it has begun to gain momentum, its price value has started enhancing.

EGLDUSDT 2022 05 05 16 26 55
Source: TradingView

The price value for this coin is in the $139.07 range. If we compare the market cap value for EGLD, it is estimated to be $3,044,037,235. While if we look at the trading volume, it has seen an increase in value. It is currently about 140,983,650 and might increase further.

MANA is moving at a fast pace

Decentraland MANA is also enhancing its value at a faster pace. The change in the market wave has brought it 4.67% over the last 24 hours. If we compare the seven-day performance, its losses remain at 12.35%. The decreases affected the price value, and it is currently in the $1.61 range.

MANAUSDT 2022 05 05 16 28 15
Source: TradingView

If we look at the market cap value for MANA, it is estimated to be $2,975,432,262. If we compare the 24-hour trading volume, it is about $304,627,701. The circulating supply for it remained at 1,844,100,505 MANA.

Final Thoughts

The global crypto market has enhanced value as the new gains have helped it stay stable. The current wave of bullishness seems to last longer as it has taken the market cap value to $1.80T. The increase in value is seen as a step towards stability for the market, which has suffered longer than usual. If the current gains bring stability for a while, it will help attract tremendous gains.

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