Bitcoin, Binance Coin, Terra LUNA, and Cosmos ATOM Daily Price Analyses – 3 February Roundup

The market seems to be stabilizing after a long recessive bout. In contrast to metrics for the previous day, the data for the last 24 hours shows an overall bullish trend in the market. Bitcoin and other altcoins seem to be going in tandem for gains.

Bitcoin will become another center for NFTs, DAOs, and DeFi. Trust Machine has raised $150 million to work on this project. Muneeb Ali and J. P. Singh have already worked on similar projects, so there are chances that this one will also succeed. Once this project is underway, it will work to expand Web 3.0 to bitcoin.

There was much hype in the market about CBDCs, and recently Boston Federal Reserve Bank and MIT have published joint research about it. The research delves deeper into the impacts of this tech and its uses, taking into account real use cases. Interested readers can check the complete details by visiting the relevant websites.

The market has continued to flourish despite the previous market crash. The situation had worsened much due to the recessive status of different currencies, which didn’t see any gains. Though the situation moves towards stability, the recovery will take much time. As evident from the case of the leading coin of the market and altcoins, there is a need for much capital and time to help the market revive.

Here is a brief overview of the leading coins of the market like bitcoin, Binance Coin, and some other tokens.   

BTC returns bullish to the market

Bitcoin has remained the leading coin in the market, and the upcoming Web 3.0 projects will strengthen it further. Experts are comparing bitcoin to gold and oil for their value. The results of inflation and other changes are evident in the growth of bitcoin, and it has grown like other essential commodities. Since it has gained a crucial position, it will grow further in the upcoming times.

The data for the last 24 hours shows a gain of 0.86% for bitcoin. At the same time, the performance for the last seven days is gain of 1.30%. The current bitcoin price is in the $37,188.92 range. If we look at the market cap of this coin, it is estimated to be $704,639,858,652.

The trading volume of bitcoin for the last 24 hours is estimated to be $19,059,752,495.

BNB steadying its value

Binance Coin has turned at is 3.75% loss of the previous week to gains. The Binance coin has gained 1.34% in the last 24 hours as per the latest updates. The current price for this coin is about $370.48, while it might improve with the value growth.

The position of Binance remains the same as it hasn’t been able to re-occupy its previous rank. The current market cap for Binance coin is estimated to be $61,171,744,141. The 24-hour trading volume of the coin, as mentioned above, is in the $1,184,927,265 range.

As the growth of this coin continues, its price will also improve.

LUNA making up for losses swiftly

Terra LUNA is another gainer in the market that has gained significantly in the last 24 hours. It has added 8.42% in the last 24 hours, which is a good sign for the coin that has shown -3.54% in the last seven days.  

The current ranking of this coin is 9 in the global list, while its price is in the $50.75 range. If we look at the current market cap of this coin, it has improved with performance improvement and is estimated to be $20,382,239,927. The trading volume of this coin is estimated to be $1,707,251,816.

ATOM furthering its value through speedy gains

Cosmos ATOM is one of the growing coins that has added a significant amount to its bulk. The data for the last 24 hours shows that it has gained 13.35% in the last 24 hours. The losses for the past seven days are about 0.04% which is very low compared to the recent gains.

The current ranking of this coin is 20 on the global list, while its price is $29.30. The growth has also reinforced its market cap, estimated to be $8,390,601,122. At the same time, the 24-hour trading volume of this coin is $1,086,510,291.  

Final Thoughts

Over the past 24 hours, the market has improved as the global market cap has reached $1.72T. In contrast to previous days, the improvement in the value of the global market cap is encouraging for investors. It can add further to the bulk of the market as investors have been investing in the market despite the ongoing crisis. So, if the new capital continues to come to the market, it will regain its previous value.