The global crypto market has seen a positive change after a long bearish period. The change came from an increased influx of capital into the market. Bitcoin’s value showed improvement while Ethereum’s performance continued to lag. As the mixed picture persists for some coins, it might take some time for the market to be mostly bullish. The market value will rise if it is able to reach a sustainable bullish state.
The University of Sharjah has partnered with BSV Blockchain to create a blockchain-based metaverse. An agreement has been reached between the University of Sharjah and the BSV Blockchain Association to preserve the culture and heritage of the United Arab Emirates. The conservation will be in the form of NFT. The two entities have launched a joint research and development program to move the cultural identity of the United Arab Emirates to the metaverse.
The collaboration between the Swiss-based blockchain company and the Gulf countries will also open avenues for other countries. The University of Sharjah will claim ownership of the digital assets and list them in the marketplace. The relationship will also provide use cases for digital assets such as NFTs and the Metaverse. A university representative said it would be monumental for the history of Arab and Islamic legacies in the Middle East.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum and others.
BTC goes bullish
Bitcoin’s open interest and funding rates have given investors hope. Bullish sentiment has improved after a long period of swings. Investors have had tough times due to numerous dips and rallies, but there are hopes for its uptrend in the coming days.
Recent changes for Bitcoin show encouraging statistics. The latest data shows that it added 1.27% in the past 24 hours. In comparison, weekly data shows that Bitcoin lost 5.98%.
The Bitcoin price value is currently within the range of $20,008.55. The market capitalization value of Bitcoin is estimated at $383,466,967,036. The 24-hour trading volume of BTC is approximately $30,535,451,225.
ETH still bearish
Ethereum’s landmark merger event has not alleviated its problems. Ethereum price continued to decline despite user expectations. Analysts have suggested that Ethereum could risk a 55% decline against Bitcoin. If this happens, the Ethereum market will suffer significantly.
Ethereum’s performance continued to show a lagging trend. Recent changes for this coin show a loss of 2.04% in the last 24 hours. In comparison, the losses of the last seven days are around 16.22%.
The price value of ETH is currently in the range of $1,443.67. The market cap value of this coin is estimated at $44,764,834,349. The 24-hour trading volume of this coin is around $786,050,406.
NEO continuous recessive
Neo’s performance also showed a downward trend, like Ethereum. Recent changes suggest it has lost 1.03% in the past 24 hours. In comparison, the weekly data shows a loss of 12.13%. The price value of NEO is currently in the range of $9.08.
Neo’s market cap value is estimated at $640,513,674. The 24-hour trading volume of this coin is around $48,151,244. The same amount in its original currency is approximately 5,302,826 NEO.
FTM in earnings
Fantom’s performance showed a positive trend as it added considerable gains. The latest data shows that it added 2.17% in the last 24 hours. The weekly data shows that there was a loss of 12.13% for this coin. The price value of FTM is currently within the range of $0.2481.
Fantom’s market cap value is estimated at $631,411,487. The 24-hour trading volume of this coin is around $96,385,240. The circulating supply of this coin is approximately 2,545,006,273 FTM.
The global crypto market has seen a positive change in value over the past 24 hours. Bitcoin’s performance has seen a huge improvement, while Ethereum is still lagging in the dips. The changes underway show that the market could overcome the obstacles. The value of global market capitalization also showed improvement. The latest data shows that it is estimated at $968.04 billion.