The global crypto market has remained bearish for the past day, but there have been attempts to turn it bullish. Various coins like Bitcoin, Ethereum, etc., have made attempts to regain momentum. They have succeeded in reducing their losses, but they need to consolidate gains to move forward. The change in pace will give the market the necessary momentum for recovery. It remains to be seen how investors will react to this situation.
Although various companies in the market have not been able to maintain their gains, the influx of newly founded companies continues. Dragonfly Capital has led the $3.5 million seed fund for Debt DAO. Debt DAO is a crypto credit protocol that will offer credit services to its customers. It provides revenue-based funding to crypto-native entities. The smart contract it uses is called Spigot.
According to the company, Spigot secures a borrower’s cash flow in the chain for automatic repayment of lenders. Other companies that participated in the funding round were GSR, Numeus, Fasanara Capital, etc. According to the participants, debt is one of the main requirements missing from DeFi. Debt DAO will attempt to fill this gap through its services.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum and some others.
BTC still at lowest level
Bitcoin miners have seen improvement in their gains as the market has taken a positive trajectory. But there are some things that can affect them as these include inflation, price corrections etc. If these continue to happen, this can result in a reverse exodus of investors.
The latest data for Bitcoin shows that it has fallen 1.47% in the last 24 hours. The weekly performance shows an addition of 5.54%. It needs to keep the flow of profits flowing to keep the investors.
The price value for Bitcoin is in the area of $23,400.50. The market value of Bitcoin is estimated at $447,158,610,123. The 24-hour trading volume for Bitcoin is around $23,412,130,130.
ETH is trying to gain momentum
Ethereum has finally been able to continue in the right direction. The delay of the merger had kept it low, as the price was in the $1.05K range last month. The news of merger and steps towards it has helped it regain value and it continues to thrive. The merger could bring it even higher.
The value of Ethereum has also seen changes as the market has continued to fluctuate. The latest data shows a loss of 0.41% in the last 24 hours. The weekly performance shows an addition of 9.80%.
The price value for ETH is currently around $1,693.92. The market value of this coin is estimated at $206,283,365,573. The 24-hour trading volume for it is approximately $14,241,280,292.
NEXO remains bearish
Nexo has performed bearishly since it could not retain its gains. 24-hour data shows it has retreated by 2.07%. By comparison, weekly data shows an addition of 6.67%. The price value for this coin is in the range of $0.7219.
If we look at the market cap of NEXO, it is estimated at $404,276,107. The 24-hour trading volume for this coin is approximately $7,958,824. The same amount in its native currency is approximately 11,024,500 NEXO.
HOT in full swing
Holo has continued to gain value as investors have continued to favor it. The latest data shows that it has increased by 2.22% in the last 24 hours. The weekly performance also shows bullishness as it increased by 12.21%. The increase has boosted the price value to the $0.0023 range.
If we take a look at the market capitalization of HOT, it is estimated to be $398,751,819. The 24-hour trading volume for this coin is approximately $37,920,110. The circulating supply of this coin is approximately 173,342,974,127 HOT.
The global crypto market has seen a continuation of market volatility. These have kept coins like Bitcoin, Ethereum, etc., bearish while some have remained bullish. The changes in the market have also had an impact on the global market value. It is currently estimated at $1.09 trillion, since that has seen little change. The ongoing hours will determine whether it goes lower or improves as market sentiment can change.