Bitcoin, Ethereum, Litecoin and Monero Daily Price Analysis – October 11 Roundup

The global crypto market has seen a positive change due to the bullish trend. The recent changes show that the market probably has a chance to grow in value. The last day was not good for the market as the value continued to decline. The ongoing situation has led to significant changes in the value of Bitcoin, Ethereum and others. The latest bearish wave would have affected them further if the depreciation had continued. There is a need to continue the bullish trend if the market wants to regain value.

CNN shut down its NFT marketplace a year after it launched. CNN’s marketplace, The Vault, has been accused of having tough users. The aforementioned marketplace was CNN’s first foray into Web3, but it could not perform well throughout the year. Although CNN has earned half a million dollars in revenue from sales, they have decided to shut down the platform.

Fox Network also announced its entry into the NFT market shortly after the CNN announcement. Other legacy media companies had also decided to join the market, but some could not due to their limited resources. CNN used Flow Blockchain to sell its collectibles in the NFT market. The official Twitter handle for The Vault revealed the shutdown news, saying that they would no longer operate and maintain the server.

Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum and others.

BTC is regaining momentum

Bitcoin mining difficulty has continued to increase and this may have certain consequences. According to analysts, adjusting Bitcoin mining difficulty may force miners to dump their BTC. Last week, the Bitcoin hash rate reached an all-time high after a tremendous growth.

The latest changes for Bitcoin show improvement in value. The latest data shows that it has increased by 0.12% in the last 24 hours. In comparison, weekly data shows a loss of 5.63%.

The latest changes have brought BTC’s price value to the $19,080.59 area. The market value of Bitcoin is estimated to be $365,893,424,937. The 24-hour trading volume for Bitcoin is around $27,660,632,410.

ETH is turning bullish

JP Morgan has said that the impact of the Ethereum merger is yet to be seen as the full effects are not yet clear. Market analysts expected Ethereum to rise in value soon after the transition, but it failed to grow as expected.

The performance of Ethereum has also seen a positive change. The latest data shows that it has increased by 0.40% in the last 24 hours. The weekly data shows that it has decreased by 5.22%.

The latest changes have boosted ETH’s price value to the $1,284.71 area. The market value of this coin is estimated to be $157,728,824,760. The 24-hour trading volume for this coin is approximately $8,537,764,422.

LTC sees hope

Litecoin has also seen hope as a result of the bullish market. The latest changes show that it has increased by 0.71% in the last 24 hours. The weekly data shows that it has decreased 4.83%. The price value for LTC is currently in the area of ​​$52.24.

The market cap of Litecoin is estimated at $3,729,590,983. The 24-hour trading volume for this coin is approximately $322,558,618. The same amount in its original currency is approximately 71,364,856 LTC.

XMR green

The performance of Monero improved as there has been an increased inflow of capital. The latest data shows that it has increased by 2.87% in the last 24 hours. The weekly data shows that it has decreased by 1.17%. The improvement in capital inflows has brought the XMR price value to the $144.93 area.

The market value of Monero is estimated at $2,634,164,022. The 24-hour trading volume for this coin is approximately $66,266,369. The circulating supply of this coin is approximately 18,186,075 XMR.

Final thoughts

The global crypto market has witnessed a significant increase in value. Recent changes show bullishness for Bitcoin, Ethereum and others. Although the market had been bearish for the past couple of days, it has seen recovery. The latest changes have improved the global market value. The latest data shows that it is estimated at 920.01 billion dollars.