The global crypto market has continued to recover value after the market went through excruciating pain. The losses for Bitcoin and other coins over the last few days saw new lows amid bearishness. The changes were emaciating for the market as it saw a huge value, lowering the market cap value below $1 trillion. The new bout of bullishness is slow compared to the market’s losses. It was one of the worst bearish waves happening after March 2022.
The impacts of the recent wave of bearishness have begun to appear. The latest in this regard is from crypto lender Celsius which has hired lawyers for possible restructuring. According to the available details, lawyers from Akin Gump Strauss Hauer & Feld LLP have been hired. They will consider the possibility of restructuring and how it will impact the company. Various crypto exchanges have also been considering restructuring, which resulted in lay-offs and other structural changes.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC in recovery mood
Bitcoin value saw a steep fall amid the bearish market as it was in a free-fall mood. The changes brought it even low to $20K, but the changes were reversed soon as it regained value. Some analysts went too far and began to predict what happens if it falls below $20K. Fortunately, it didn’t happen; rather, it is moving towards stability.
The latest data for Bitcoin shows that it has added 3.20% over the last 24 hours. In comparison, the losses for the last seven days are about 29.15%. Bitcoin would take time to recover from the huge losses it sustained.
The price value for Bitcoin is in the $22,008.27 range. If we compare the market cap value for Bitcoin, it is estimated to be $418,756,585,761. The 24-hour trading volume of Bitcoin is about $48,107,473,069.
Ethereum has also been one of the main victims of the ongoing market changes. According to the available updates, it has also begun to improve. Ethereum NFTs have also been subject to losses as the market remained bearish. Cool Cats were soaring in their value as their popularity grew, but then there was a sudden change. Its price is down 96% from its all-time high while its CEO has left.
The latest data for Ethereum shows that it has added 3.97% over the last 24 hours. In comparison, the seven-day losses have been reduced to 33.71%. The changes suggest that Ethereum might attempt to recover value.
The price value for ETH is in the $1,203.55 range. If we look at the market cap value, it is estimated to be $145,465,365,704. The 24-hour trading volume of this coin is about $31,778,622,681.
XTZ makes speedy gains
Tezos had also been facing problems, but it has followed a bullish trajectory. The latest data shows it has added 8.05% over the last 24 hours. In comparison, the losses for the last seven days are about 31.82%. The price value for this coin has improved to the $1.43 range.
If we take a peek at the market cap value, it is estimated to be $1,287,563,302. The 24-hour trading volume of this coin is about $96,894,223. The same amount in its native currency is about 67,595,228 XTZ.
HNT soars higher
Helium has also taken a high flight as its price value increased tremendously. The latest data shows that HNT has added 25.83% over the last 24 hours. If we compare the weekly performance, it has shed 6.62%. The price value has enhanced as it has reached $9.62.
The market cap value for HNT is estimated to be $1,149,342,856. The 24-hour trading volume of this coin is about $99,238,842. The circulating supply of this coin is about 119,775,462 HNT.
The global crypto market has begun to take a positive trajectory as its gains have increased. The latest data for this coin shows that Bitcoin and other coins have continued to add value. The global market cap value has also enhanced as the gains increased. The recent surge in value might help it recover from the previous losses, but the condition is continuing gains.