The global crypto market has witnessed a positive trend over recent hours. The performance of Bitcoin, Ethereum, and others shows the continuation of the capital inflow. As the inflow continues, the strength of the market has grown considerably. The positive change was expected for a while and has begun to happen, making a recurring pattern. The growth in the value of the market has led to renewed confidence in the market. If the current pattern continues, the market is likely to grow considerably.
The newly formed dynamic between Twitter, Binance, and DOGE will likely give the market a new boost. Binance stated its plan to form an internal team that will leverage blockchain technology and assist Twitter in developing upgrades. The mentioned team will also look into the bot issue on Twitter. Binance has developed a vested interest in Twitter as it has invested about $500 million in the platform. As of 29 October, Binance has announced the formation of a team that will collaborate with Twitter.
The team has plans to bring on-chain solutions for the bot problem. The bot problem also became a contention for the much-talked deal as Musk tried to scrap it. The social media platform has also partnered with Rarible, Magic Eden, Dapper Labs, and Jump.trade. These NFT marketplaces will help Twitter integrate NFTs named NFT Tweet Tiles.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC stays green
Costa Rica is considering tax exemptions for Bitcoin transactions. Costa Rican lawmakers are working to make the country a Bitcoin-friendly nation and have proposed to significantly lower the taxes on Bitcoin.
The recent changes for Bitcoin show the continuation of positive changes. The latest data shows that it has added 0.30% over the last 24 hours. The weekly data shows an addition of 8.18%.
The price value for BTC is currently in the $20,782.03 range. The market cap value for Bitcoin is estimated to be $398,713,374,732. The 24-hour trading volume of Bitcoin is about $40,081,848,476.
ETH on rise
Ethereum censorship debate has heated up as the censor block hits 65%. The founder of Gnosis safe, Martin Kopplemann, took to Twitter to debate the importance of reviewing the state of censorship. There is a question of whether it is a fud or has a simple fix.
The performance of Ethereum has also shown a positive trend. The latest data shows that it has added 3.03% over the last 24 hours. The weekly data shows that it has grown 23.26%, showing a tremendous pace.
The price value of ETH is currently in the $1,617.95 range. The market cap value for this coin is estimated to be $197,994,985,140. The 24-hour trading volume of this coin is about $21,293,115,110.
The performance of Kava has also shown a positive trend. The latest data shows that it has added 0.18% over the last day. The weekly data shows an addition of 4.44%. The positive trend has hiked KAVA’s price value to the $1.51 range.
The market cap value for Kava is estimated to be $461,145,732. The 24-hour trading volume of this coin is about $15,757,486. The same amount in its native currency is about $10,478,513 KAVA.
The value of Casper has lowered due to the outflow of capital. The latest data shows that it has shed 3.89% over the last 24 hours. The weekly data shows that it has shed 7.97%. The price value for CSPR is currently in the $0.04052 range.
The market cap value for Casper is estimated to be $423,633,308. The 24-hour trading volume of this coin is about $20,562,398. The circulating supply of the same coin is about 10,470,701,848 CSPR.
The global crypto market has seen a boost in performance due to the continuing influx of capital. The ongoing changes have strengthened the market as it was in need of incoming capital. The strengthening capital has brought gains to investors who have been facing hard times for a while. The global market cap value has also grown considerably. The latest data shows that it is estimated to be $1.02 trillion.