Bitcoin, Ethereum, Gnosis and Optimism Daily Price Analysis – July 29 Roundup
It has been an uncertain situation in the global crypto market as different coins have shown different trends. Bitcoin is bullish as gains continue, while Ethereum has turned bearish. The changes for the following coins also show different patterns, thus causing uncertainty about the market direction. If the losses dominate, it will pull the market back into bearishness, while if the gains continue, it will help the market towards lasting lag. It remains to be seen what the outcome will be.
FTX has been given the green light to work in Dubai. According to available updates, the exchange has been approved to act as an exchange and settlement center in Dubai, UAE. FZE, FTX Europe’s subsidiary, has won the approval to enter the MVP (Minimum Viable Product program. Dubai created this program in March to facilitate exchange and digital services offering companies.
Dubai aims to become a hub for crypto and digital assets. The Dubai World Trade Center’s affiliate agency regulates crypto services. In the initial phase, the regulator aims to select responsible actors to strengthen the country’s crypto economy. FTX is the first of its kind to receive this license in Dubai.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum and others.
BTC still at $23K
Bitcoin is facing a difficult situation as it has made several attempts to cross $24K but could not continue. These changes have brought it to its goals, but the momentum could not be maintained. Whether it is a resistance test or a breakout remains to be seen.
The latest data for Bitcoin shows that it has added 0.08 in the last 24 hours. In the previous hours, it remained bullish as it has retained its gains. The increase has helped it stay in a stable range.
The Bitcoin price value is approximately 23,814.73 and may rise further. The market value of Bitcoin is estimated to be $455,033,900,433. The 24-hour trading volume for Bitcoin is approximately $35,614,151,835.
ETH is turning bearish
Ethereum has seen a massive increase in address activity, leaving experts confused. According to the available updates, the imminent merger has improved various metrics for Ethereum. The peak in address activity came last week, while chain experts are still pondering the cause.
The value of Ethereum has seen fluctuations as it could not retain its gains. The latest data for this coin shows that it has fallen 0.20% in the last 24 hours. In comparison, the weekly performance shows a gain of 9.38%.
The recent decline has brought the price value to the $1,709.78 area. If we compare the market value of this coin, it is estimated at $208,160,247,202. The 24-hour trading volume for this coin is approximately $23,023,597,478.
GNO cannot keep winnings
The value of Gnosis has continued to decline because it could not retain gains. The latest data shows that it has decreased by 0.54% in the last 24 hours. The weekly performance shows an addition of 8.09%. The price value for this coin is in the range of $162.96.
The market cap of GNO is estimated at $420,361,271. The 24-hour trading volume for the same coin is approximately $4,644,440. The same amount in its original currency is approximately 28,501 GNO.
OP continues to grow
Optimism has continued to grow even though the rest of the market has not seen much improvement. The latest data shows that it has increased by 12.91% in the last 24 hours. The weekly performance shows that it has increased 100.31%. Recent gains have brought the price value to the $1.75 range.
The market value of OP is estimated at $411,832,467. The 24-hour trading volume for this coin is approximately $909,098,719. The circulating supply of this token remained 234,748,364 OP.
Final thoughts
The global crypto market has seen a situation of uncertainty. These changes have resulted in different trends for different coins. Bitcoin is moving forward while Ethereum has seen red. There has been no major change in the global market value. It is currently estimated at $1.10 trillion. If the market remains bullish, it is expected to rise further.
