The global crypto market has witnessed a positive change in performance over the last day. The performance of Bitcoin, Ethereum, and others shows that there has been a significant addition to their value. The market has made multiple attempts to regain value but it suffered setbacks. The ongoing crypto winter was triggered by the Russian invasion of Ukraine and other geopolitical changes. The continuation of this bearish situation has resulted in the collapse of major names like 3AC, Terra, Voyager Digital, and recently FTX exchange.
Solana NFT protocol Metaplex has announced layoffs in the wake of FTX collapse. Though there was no direct connection between Metaplex and FTX, it appears that it has suffered reputational damage. The company announced on Thursday that it has undergone a company-wide round of layoffs. The company hasn’t disclosed the number of employees that were given pink slips.
The CEO of the company said in a statement that they remain strong as the company hasn’t been affected structurally. He further added that they will have a conservative approach due to the strong impacts of the recent changes in the market. The company started a year back as it was able to raise $46 million in January. Furthermore, it was funded by names like Multicoin Capital, Jump Crypto, and Michael Jordan.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC turns bullish
Silvergate CEO has expressed strong trust in Bitcoin. He was addressing a conference where he said that there are always buyers for Bitcoin. He shared his company’s stance regarding Bitcoin, saying that there is a silver lining for the company amid the current market situation.
The recent changes for Bitcoin show that it has changed its direction. The available data shows that it has added 1.12% over the last day. The weekly performance of this coin shows that it has shed 1.47%.
The price value of BTC is currently in the $16,850.87 range. The market cap value of Bitcoin is estimated to be $323,710,133,024. The 24-hour trading volume of Bitcoin is about $29,272,727,386.
ETH still in losses
Starkware has launched a token on Ethereum, but it is not yet tradable. The company deployed its native token STRK on the mentioned network recently. While on other hand, Kraken has also added support for SOL USDC along with Ethereum.
The recent changes for Ethereum also show hope as it continues to add value. The available data shows that it has reduced losses to 0.58% over the last day. The weekly performance of this coin shows that it has shed 3.28%.
The price value of ETH is currently in the $1,210.57 range. The market cap value of this coin is estimated to be $148,142,612,013. The 24-hour trading volume of the same coin is about $9,860,858,944.
XMR resumes gains
Monero has also resumed gains due to the bullish market. The latest data shows that it has added 1.47% over the last 24 hours. The weekly performance of this coin shows an addition of 2.75%. The price value of XMR is currently in the $133.70 range.
The market cap value of Monero is estimated to be $2,433,599,777. The 24-hour trading volume of this coin is about $73,578,756. The same amount in its native currency is about 549,746 XMR.
TON continues to rise
The value of Toncoin has also continued to rise due to the bullish trend. The recent data shows that it has added 3.95% over the last 24 hours. The weekly performance shows that it has added 12.91%. The price value of TON is currently in the $1.79 range.
The market cap value of Toncoin is estimated to be $2,187,743,010. The 24-hour trading volume of this coin is about $11,418,343. The circulating supply of this coin is about 1,221,401,181 TON.
Final Thoughts
The global crypto market has seen a positive change in its performance. The recent data for Bitcoin, Ethereum, and others shows an addition of value. The ongoing changes have proved a fresh wave of air for the investors. The global market cap value has also risen in value due to the recent influx of capital. The recent data shows that it is estimated to be $837.22 billion.
