The global crypto market has continued to show a positive trend. The value of Bitcoin, Ethereum, and others has improved slightly. But there is a trend of decrease in losses which might affect the market in the coming hours. The market couldn’t keep the gains as sturdy as these were hours back. These changes would be evident in the form of impending bearishness, which might be there soon. If the bearish wave dominates, the market will be deprived of the gains that it made recently.
A lawsuit was filed against Elon Musk for leading investors into pouring their money into Dogecoin. According to the recent updates, more plaintiffs have joined the lawsuit of $258 billion as the value of DOGE has declined. Musk has remained vocal about Dogecoin, and his social media posts brought DOGE to the limelight. The decline in the value of Dogecoin has brought significant losses to investors, resulting in a lawsuit against Musk.
Keith Johnson, one of those investors, decided to fight Dogefather for his misleading statements. He had filed a massive $258 billion lawsuit against Musk for promoting a pyramid scheme. As new plaintiffs joined, the lawsuit was amended and filed in Manhattan Federal Court on Tuesday. There was an addition of seven new plaintiffs and six new defendants.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC stuck at $19.3K
The gains of Bitcoin miners remained almost unchanged in August compared to July. According to recent information, Sphere 3D mined 12.76 Bitcoin in August, almost the same as August. The decline in gains has continued to affect miners as well.
The recent changes for Bitcoin show a slowdown in gains. The latest data shows that it has added 0.69% over the last 24 hours. In comparison, the weekly data for Bitcoin shows a loss of 3.46%.
The price value for Bitcoin is currently in the $19,349.72 range. The market cap value for BTC is estimated to be $370,453,511,442. The 24-hour trading volume of this coin is about $31,917,099,351.
ETH grows further
Analysts have continued to predict highs for Ethereum if the merge succeeds. According to Arthur Hayes, the price value of Ethereum will reach $3,000 by the end of the year if the merge is successful. Also, it will have an impact on the overall crypto market.
The value of Ethereum has seen slow growth over recent hours. The data for the last 24 hours shows an addition of 0.86%. In comparison, the seven-day data shows a gain of 3.71%.
The price value for ETH is currently in the $1,635.37 range. The market cap value for this coin is estimated to be $199,997,047,896. The 24-hour trading volume of this coin is about $17,358,089,157.
VET gaining momentum
The performance of VeChain has shown signs of improvement. The latest data shows that it has added 2.81% over the last 24 hours. The weekly data shows a gain of 1.00% for this token. The price value for VET is currently in the $0.02439 range.
The market cap value for VeChain is estimated to be $1,768,178,359. The 24-hour trading volume of this token is about $68,312,473. The same amount in its native currency is about 2,801,423,125 VET.
EOS in losses
The value of EOS has seen a decline due to a bearish trend. The latest data shows that it has shed 3.24% over the last 24 hours. The weekly data shows a gain of 6.27%. The price value for EOS is currently in the $1.60 range.
The market cap value for EOS is estimated to be $1,600,147,289. The 24-hour trading volume of this token is about $666,225,087. The circulating supply of this token is about 1,000,093,997 EOS.
Final Thoughts
The performance of the global crypto market has shown bullishness. The change in the strength of bullish waves shows possible chances of bearishness. If the market isn’t able to retain gains, as evident from the performance of Bitcoin, Ethereum, and others, it might turn bearish. The current performance shows a continuation of the global market cap value growth. The latest data shows that it is estimated to be $984.40 billion.