The global crypto market has seen a positive change in performance over recent hours. The data for Bitcoin, Ethereum, and others shows that there has been a considerable change. As the market has seen an improvement, there has been an increase in the influx of capital. The growth in value has resulted in an increase in investor trust, which has been affected recently. The market has made several attempts to regain momentum but has seen fluctuations.
Dutch Bitcoin exchange Bitvavo has alleged Digital Currency Group of having liquidity problems. DCG subsidiary Genesis still has a withdrawal freeze on its lending arm. In comparison, Grayscale Bitcoin is trading at record discounts. Dutch cryptocurrency exchange Bitvavo said that it has 280 million euros stuck with Digital Currency Group (DCG). The mentioned amount equals $297 million in USD. Furthermore, this amount is about 17.5% of the 1.6 billion Euro Bitvavo claims to manage.
Bitvavo assured its customers that it doesn’t have any impact on the Bitvavo platform. Bitvavo claimed in a blog post that DCG is facing liquidity problems due to the current turbulence in the market. Furthermore, DCG has suspended repayments until the liquidity issue is resolved. DCG responded to this statement that the funds are withheld by Genesis, which is an ‘independent subsidiary.’
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC resumes gains
David Puell has said in a statement that there is still a lack of on-chain signal for the BTC bull market. According to him, the Bitcoin network is underwhelming as further data affirms a textbook BTC price bottom.
Source: TradingView
The recent changes for Bitcoin show little hope as the market has seen a revival. The recent changes for Bitcoin show that it has added 0.31% over the last 24 hours. The seven-day data shows that it has receded by 2.39%.
The price value of BTC is currently in the $16,740.19 range. The market cap value of Bitcoin is estimated to be $322,025,617,467. The 24-hour trading volume of Bitcoin is about $12,851,031,632.
ETH reviving value
Ethereum OFAC-compliant blocks have dropped as validators move to affect this update. The recent data shows that there has been a significant drop in the number of these blocks. Ethereum validators are also planning to employ an update that would lower the number further.
Source: TradingView
Ethereum has also seen a trend of revival in value as the market remains favorable. The latest data shows that it has added 0.95% over the last 24 hours. The seven-day data shows that it has shed 6.57%.
The price value of ETH is currently in the $1,186.57 range. The market cap value of this coin is estimated to be $145,205,492,635. The 24-hour trading volume of the same coin is about $4,485,461,654.
DOGE on rise
The performance of Dogecoin has also seen highs as a result of a bullish market. The latest data shows that it has added 2.90% over the last day. The seven-day performance shows that it has shed 18.13%. The price value of DOGE is currently in the $0.7916 range.
Source: TradingView
The market cap value of Dogecoin is estimated to be $10,501,892,046. The 24-hour trading volume of this coin is about $408,023,312. The same amount in its native currency is about 5,151,681,730 DOGE.
SHIB super-bullish
The performance of Shiba Inu has also shown a positive trend. The latest data shows that it has added 6.61% over the last 24 hours. The seven-day data shows that it has shed 5.34%. The price value of SHIB is currently in the $0.00000872 range.
Source: TradingView
The market cap value of Shiba Inu is estimated to be $4,787,611,206. The 24-hour trading volume of this coin is about $204,280,881. The circulating supply of the same coin is about 549,063,278,876,302 SHIB.
Final Thoughts
The global crypto market has seen a positive trend over recent hours. The performance of Bitcoin, Ethereum, and others shows that there has been an enhancement in gains. As the market has turned bullish, there has been an increase in the influx of capital. The global market cap value has also seen moments of respite as it improved to $809.22 billion.
